Castlerock Investments, a new name in Canadian investment management, offers experience and expertise

TORONTO, Feb. 14 /CNW/ - A new name in Canadian investment management was launched today - Castlerock Investments Inc.

Castlerock, formerly Hartford Investments Canada Corp., was acquired by CI Financial Corp. in December 2010. With its rebranding today, Castlerock is also announcing a series of enhancements to its lineup, including the launch of four new funds and several portfolio management changes.

"Castlerock may be a new name in Canadian investments, but it represents a wealth of experience and expertise," said Derek J. Green, Castlerock President. "Castlerock provides investors with access to some of the country's best and brightest money managers through a focused lineup of core mutual funds."

Investors in the Castlerock funds can also draw peace of mind from the backing of parent company CI Financial, a large and diversified wealth management firm listed on the TSX (symbol: CIX). "The Castlerock name conveys the strength and experience of the firm and its portfolio management teams," said Mr. Green.

Through Castlerock, investors will continue to benefit from the expertise of award-winning portfolio managers Black Creek Investment Management Inc. and Greystone Managed Investments Inc. At the 2011 Lipper Fund Awards, Black Creek was the recipient of awards in the global equity and global equity balanced categories, while Greystone received an award in the dividend and equity income category. Black Creek and Greystone are available to retail mutual fund investors exclusively through Castlerock.

In addition, under the changes announced today, investors in the Castlerock funds will also have access to highly regarded portfolio management teams Cambridge Advisors, Signature Global Advisors and Tetrem Capital Management Ltd.

"Castlerock is moving ahead with a strong lineup of 21 funds representing a well-diversified selection of mandates and a choice of leading investment managers," Mr. Green said. "They are high-quality funds that can serve as excellent core holdings for an investor's portfolio."

Mr. Green said the company is experiencing strong momentum, with positive net sales and growth in assets of approximately 8.6% to $1.9 billion since CI Financial announced the acquisition of the company on October 21, 2010.

Fund name changes

With the adoption of the company name Castlerock, all of the fund names have changed, with "Castlerock" replacing "Hartford" in each name. For example, Hartford Global Leaders Fund has been changed to Castlerock Global Leaders Fund.

New funds

Effective today, the following funds have been added to the Castlerock lineup, and are available for purchase:

  • Castlerock Enhanced Yield Fund. Portfolio manager: Signature Global Advisors. The fund seeks to generate a high level of income through exposure to a portfolio of fixed-income and high-yielding equity securities throughout the world. Equity securities may include common shares, preferred shares, real estate investment trusts and royalty trusts.
  • Castlerock Total Return Fund. Portfolio manager: Signature Global Advisors. The fund seeks to generate long-term capital growth and income by investing, directly or indirectly, in a combination of equity and fixed-income securities of primarily Canadian companies.
  • Castlerock Canadian Growth Companies Fund. Portfolio manager: Cambridge Advisors (the business name of CI Global Holdings Inc). The fund seeks to provide long-term capital growth by investing primarily in common shares of Canadian companies. It will focus on small and medium-size companies and may invest up to approximately 49% of its assets in foreign securities.
  • Castlerock Pure Canadian Equity Fund. Portfolio manager: Cambridge Advisors. The fund's objective is to achieve long-term capital growth by investing, directly or indirectly, primarily in equity securities of Canadian companies. Foreign content is limited to a maximum of approximately 10%.

Portfolio management changes

The portfolio management of 11 existing funds has been changed, effective today:

Fund New portfolio manager
Castlerock Global High Income Fund Signature Global Advisors
Castlerock Canadian Bond Fund Signature Global Advisors
Castlerock Canadian Money Market Fund               Signature Global Advisors
Castlerock Global Balanced Fund
(fixed-income portion only)
Signature Global Advisors
Castlerock Canadian Dividend Fund Tetrem Capital Management Ltd.             
Castlerock Canadian Value Fund Tetrem Capital Management Ltd.  
Castlerock Capital Appreciation Fund Tetrem Capital Management Ltd. 
Castlerock Conservative Portfolio CI Investment Consulting
Castlerock Balanced Portfolio CI Investment Consulting
Castlerock Balanced Growth Portfolio CI Investment Consulting
Castlerock Growth Portfolio CI Investment Consulting

Signature Global Advisors and CI Investment Consulting are divisions of CI Investments Inc.

There is no change to the portfolio management of the following funds:

Fund Portfolio manager
Castlerock Global Leaders Fund Black Creek Investment Management Inc.
Castlerock International Equity Fund Black Creek Investment Management Inc. 
Castlerock Global Balanced Fund (equity portion)   Black Creek Investment Management Inc.
Castlerock Canadian Dividend Growth Fund Greystone Managed Investments Inc.
Castlerock Canadian Balanced Fund Greystone Managed Investments Inc.
Castlerock Canadian Stock Fund Greystone Managed Investments Inc.
Castlerock U.S. Dividend Growth Fund Greystone Managed Investments Inc.

For more information about Castlerock Investments and its funds, investors may contact their financial advisor or visit www.castlerockinvestments.ca.

SOURCE Castlerock Investments Inc.

For further information:

Derek J. Green
President
Castlerock Investments
(416) 364-1145

Profil de l'entreprise

Castlerock Investments Inc.

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CI FINANCIAL CORP.

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