CI Investments offers a tax-efficient solution for income investors
TSX SYMBOL: CIX
TORONTO, Oct 8 /CNW/ - CI Investments Inc. today announced the launch of CI Income Advantage Fund, a fund designed to provide a diversified, tax-efficient income solution in a single investment.
CI Income Advantage Fund provides exposure to a portfolio of income-generating securities, including investment-grade government and corporate bonds, as well as preferred shares, common shares and real estate investment trusts.
The fund pays a tax-efficient income stream through a sustainable monthly distribution of 3.5 cents, representing a yield of approximately 4.2%. The fund uses a forward contract that results in the distribution being characterized as capital gains, which are taxed at a lower rate than interest income.
The investment portfolio is managed primarily by Signature Global Advisors, a division of CI that manages approximately $24 billion in assets. The team's expertise and track record have been recognized through 10 Canadian Investment Awards over the past nine years. Trilogy Global Advisors, LLC of New York also manages a portion of the portfolio that is allocated to global government bonds.
"CI Income Advantage Fund is a convenient and tax-efficient option for the income portion of investors' portfolios," said Derek J. Green, CI President. "Canadians are seeking innovative solutions to generate income from their investments, and CI provides a broad range of strategies to meet these diverse needs."
CI's comprehensive income lineup ranges from traditional bond funds to diversified income funds to income-oriented balanced and equity funds. For more information, visit www.ci.com.
CI Investments Inc. is one of Canada's largest investment management companies. CI offers a broad range of investment products and services, including an industry-leading selection of investment funds, and is on the Web at www.ci.com. CI is a subsidiary of CI Financial Corp. (TSX: CIX), an independent, Canadian-owned wealth management firm with $91.5 billion in fee-earning assets as of September 30, 2010.
For further information:
Murray Oxby
Director, Communications
CI Investments Inc.
(416) 681-3254
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