TSX Symbol: CIX
TORONTO, Nov. 27, 2013 /CNW/ - CI Investments Inc. (''CI'') today
announced several enhancements to CI Canadian Dividend Growth Fund and
CI U.S. Dividend Growth Fund, including the appointment of Cambridge
Global Asset Management as portfolio advisor, the introduction of
monthly distributions, and name changes for the funds.
The award-winning Cambridge team manages over $8 billion in assets, has
offices in Boston and Toronto, and is led by Chief Investment Officer
Alan Radlo and Portfolio Managers Brandon Snow and Robert Swanson. The
group has achieved strong results in managing its funds, which include
equity, income and dividend funds.
"Investors in these funds will benefit from Cambridge's proven expertise
across a broad range of equity and income mandates," said Derek J.
Green, CI President. "The dividend strategies fit well with Cambridge's
focus on risk-adjusted returns and downside protection."
CI Canadian Dividend Growth Fund will be renamed Cambridge Canadian
Dividend Fund and CI U.S. Dividend Growth Fund will be renamed
Cambridge U.S. Dividend Fund. Both funds will begin paying a regular
monthly distribution to their investors starting in January 2014. The
U.S. dollar version of Cambridge U.S. Dividend Fund will pay its
monthly distribution in U.S. dollars. In addition, the requirement to
invest in concentrated portfolios has been lifted for both funds,
giving the portfolio managers the option of increasing the number of
holdings and allowing for increased diversification.
Furthermore, the two funds will be made available in CI Private
Investment Management, CI's program for higher net worth investors. The
various changes to the funds are expected to be effective from December
16 to December 31, 2013.
"Investors are increasingly responding to low interest rates by relying
on equity investments to provide income," said Mr. Green. "These funds,
with the experience of the Cambridge team, a focus on stable
dividend-paying firms and the new monthly distribution payouts, will be
a solid option for these investors."
Mr. Radlo and Mr. Swanson will be named Portfolio Managers of Cambridge
U.S. Dividend Fund and Mr. Snow and Mr. Swanson will be named Portfolio
Managers of Cambridge Canadian Dividend Fund. Mr. Radlo has over 30
years of investment experience and joined CI in 2008 to found the
Cambridge team. Prior to that, he was a portfolio manager at Fidelity
Investments, where he was responsible for approximately $10 billion in
assets. Mr. Radlo focuses on Cambridge's U.S. and global equity funds.
Mr. Swanson's investment career spans three decades. Prior to joining
Cambridge in 2011, he worked at Fidelity Investments, where he was lead
portfolio manager of several mutual funds with combined assets under
management exceeding $20 billion. At CI, Mr. Swanson oversees
Cambridge's diversified income, dividend and balanced mandates.
Mr. Snow has 10 years of investment management experience. Prior to
joining CI in 2011, he was an analyst and portfolio manager of two
Canadian-focused equity mandates at Fidelity Investments with a total
of $1.7 billion in assets. He specializes in North American equities
and is lead manager of Cambridge's Canadian equity mandates.
Cambridge Global Asset Management is a business name of CI, used in
connection with its subsidiary, CI Global Investments Inc. Certain
portfolio managers of Cambridge Global Asset Management are registered
with CI Investments Inc.
About CI Investments - Canada's Investment Company
CI is one of Canada's largest investment management companies. It 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 approximately $115 billion
in assets as October 31, 2013.
SOURCE: CI Investments Inc.
For further information:
Derek J. Green