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.