On January 25, CI Financial Corp. announced that they entered into an agreement to acquire Segall Bryant & Hamill (SBH). SBH is the sub-advisor to our iMGP SBH Focused Small Value Fund.
Following the announcement, we spoke with the fund’s co-managers Shaun Nicholson and Mark Dickherber. As a result of our conversations, we remain confident that the team will remain autonomous and continue to effectively execute their investment process. The pending acquisition will not disrupt their investment process or result in changes to the investment team. The acquisition is expected to close in the second quarter of this year. We will continue to monitor the situation during our ongoing due diligence with the managers.