Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Financial Planning > Behavioral Finance

Hartford to Sell Canadian Fund Unit

By staff Writer

X
Your article was successfully shared with the contacts you provided.

CI Financial Corp. has agreed to acquire the Canadian mutual fund operations of Hartford Financial Services Group Inc.

CI Financial, Toronto (TSX:CI), hopes to complete the deal, for Hartford Financial’s Hartford Investments unit, by Dec. 31, according to Hartford Financial, Hartford (NYSE:HIG).

The companies are not saying how much CI Financial is paying for Hartford Investments.

Hartford Investments manages 18 Canadian mutual funds, and those funds hold the equivalent of about $1.8 billion in assets and U.S. currency.

Hartford Financial is selling the unit to focus on core U.S. operations, the company says.

CI Financial says it is buying because it wants to increase its size and strengthen its ability to sell through a wide variety of distribution channels.

- Allison Bell

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.