CI Financial has entered into an agreement to acquire The Hartford’s Canadian mutual fund business, Hartford Investments Canada Corp., which has C$1.75 billion in assets under management. Terms of the deal were not disclosed.
The Hartford’s Canadian fund business is comprised of 18 mutual funds. The deal is expected to close in December, boosting CI’s total retail assets under management to C$68.4 billion.
“Hartford Investments has been one of Canada’s fastest-growing mutual fund companies over the past five years, having developed a strong lineup of portfolio managers and excellent relationships with dealers and advisers,” said CI President and CEO Stephen A. MacPhail. “We are pleased to acquire Hartford’s high-quality suite of funds.”
CI plans to continue to grow organically and through acquisitions, MacPhail added.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access