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.
