CI Global Asset Management and Invesco Ltd. have announced the completion of CI GAM's acquisition of the management agreements for Invesco Canada's fund business. The transaction involves approximately CAD 27 billion in combined assets under management, elevating CI GAM's total AUM to around CAD 175 billion.

Under the terms of the deal, effective immediately, CI GAM, the Canadian asset management subsidiary of CI Financial Corp., has become the manager for 98 mutual funds and exchange-traded funds previously provided by Invesco Canada Ltd. This transaction was initially announced on January 13, 2026, when the parties agreed for CI GAM to acquire the management agreements for the business, involving roughly CAD 26 billion in AUM. The change of manager was approved by fund unitholders at meetings held in April 2026.

As part of the agreement, Invesco and CI GAM have also established a long-term strategic partnership. Under a sub-advisory arrangement covering approximately CAD 13 billion, affiliates of Invesco will continue to provide portfolio management services for 61 funds, ensuring a consistent investment experience for unitholders.

Kurt MacAlpine, CEO of CI, stated, "This transaction solidifies our position as a leader in the Canadian investment fund industry, significantly increases our assets under management, and broadens our capabilities. We have enhanced our fund lineup with a wide range of new strategies, creating one of the most comprehensive and diverse product offerings in the industry."

Andrew Schlossberg, CEO of Invesco, noted, "Invesco remains committed to serving Canadian investors through a broad set of global investment strategies and looks forward to continued growth through our partnership with CI GAM, one of Canada's leading wealth and investment management firms."

Due to the change in portfolio manager, CI GAM will rename 37 funds under the CI brand, effective on or about July 31, 2026. Further details will be disclosed in a separate news release later this week.