The new mutual fund invests in the CI First Asset ETF launched in June
Toronto-based CI Investments Inc. is introducing a mutual fund to invest in its recently launched CI First Asset High Interest Savings ETF.
The ETF, which invests primarily in high-interest savings accounts with a yield of approximately 2.10%, started trading on the TSX in June. The management fee on the Class F mutual fund is 0.14%, the same as for the ETF, CI said in a release.
The mandate and investment objective for the two products is the same.
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