TSX SYMBOL: CIX.UN
TORONTO, Dec. 1 /CNW/ - KBSH Capital Management Inc. ("KBSH") and CI
Investments Inc. ("CI") today announced that the investment teams of KBSH and
Signature Global Advisors are being combined for the purpose of managing KBSH
institutional mandates.
Signature Global Advisors is an award-winning investment management team
and a division of CI. Signature consists of 22 investment professionals
managing approximately $18 billion in a broad range of Canadian and global
equity, balanced and fixed-income portfolios.
The combination will enhance the research efforts that support all
mandates offered by KBSH, which manages over $2 billion for a variety of
institutional clients. KBSH and CI are wholly owned subsidiaries of CI
Financial Income Fund.
"This change provides KBSH mandates with the support of one of the
largest and best-resourced investment teams in Canada," said Bill Vieira,
Chief Executive Officer of KBSH. "Signature's scale provides us with a much
deeper research capability, including industry-leading access to information
and to the senior management of the largest global issuers.
"There will be no changes to the core KBSH mandates and they will
continue to be run by their current portfolio managers," Mr. Vieira said. The
portfolio managers remain fully committed to their growth-oriented investment
approach and all mandates will continue to be run in accordance with their
stated investment policies.
"This move demonstrates our commitment to KBSH, and is an important step
in growing our institutional investment management business," said Peter
Anderson, Chief Executive Officer of CI Investments.
These changes are effective immediately. Mr. Vieira will continue to
oversee all KBSH equity accounts as the firm's Chief Investment Officer, and
will be supported by Stephen Carlin on the Canadian mandates. Rui Cardoso will
remain portfolio manager of the KBSH U.S. strategies, while contributing to
the Signature funds as a health care specialist. Drummond Brodeur, who joined
Signature in July 2007 as an EAFE strategist, will be portfolio manager of
KBSH's EAFE accounts. Prior to joining Signature, Mr. Brodeur spent 11 years
at KBSH as portfolio manager specializing in EAFE mandates. Geoff Hollands
will remain portfolio manager of the KBSH fixed-income strategies, while Craig
Auwaerter will continue as head of sales and client service.
As part of these changes, several people, including President Doug
MacDonald, will be leaving KBSH.
CI Investments Inc. is one of Canada's largest investment managers,
offering an industry-leading selection of investment funds. CI is controlled
by CI Financial Income Fund (TSX: CIX.UN), an independent, Canadian-owned
wealth management firm with approximately $78.9 billion in fee-earning assets
as of November 30, 2008. CI is on the Web at www.ci.com.
For further information: Murray Oxby, Director, Communications, CI
Investments Inc., (416) 364-1145
