CI Investments announces portfolio management change

TSX Symbol: CIX

TORONTO, Nov. 4, 2016 /CNW/ - CI Investments Inc. ("CI") has announced the appointment of Fiera Capital Corporation as a portfolio sub-advisor for G5|20 Series, a family of guaranteed cash flow funds. Effective November 1, 2016, Fiera Capital assumed responsibility for the funds' risk management overlay strategy.

CI has appointed Fiera Capital to replace HRS Capital ("HRS") following a change in business model at HRS and the transfer of the key risk management overlay managers from HRS to Fiera. As a result, the team that was responsible for the G5|20 risk management overlay strategy at HRS will continue to manage the strategy at Fiera Capital. The team is led by Alexandre Hocquard, Co-Leader, Research and Quantitative Solutions and Senior Portfolio Manager at Fiera Capital, and Nicolas Papageorgiou, Co-Leader, Research and Quantitative Solutions. They have been responsible for the G5|20 risk management overlay strategy since November 2014.

G5|20 Series funds distribute for 20 years a stable annual cash flow equal to 5% of the investor's initial investment or the Guaranteed Asset Value, whichever is greater. The cash flow is guaranteed by Bank of Montreal. The risk management overlay strategy supports the objectives of the G5|20 Series through dynamic hedging that employs exchange-traded derivatives to provide protection for the portfolios from market downturns and optimize market exposure to benefit from growth in rising markets.

Mr. Hocquard has several years of experience in quantitative asset management, from practical research to product innovation and implemented strategies, in the traditional and alternative fields. Prior to joining HRS in 2014, he held positions at Pavilion Asset Management and Desjardins Global Asset Management. He holds a PhD in Quantitative Finance from HEC Montreal.

Mr. Papageorgiou, PhD, is also Professor of Finance at HEC Montreal. Prior to joining HRS in 2014, he was Senior Derivatives Strategist at the Montreal Exchange, and previously held positions at Pavilion Financial Corp. and Desjardins Global Asset Management.

Fiera Capital is a leading North American independent asset management firm with more than $112 billion in assets under management as of September 30, 2016. The firm provides institutional, retail and private wealth clients with access to full-service integrated money management solutions across traditional and alternative asset classes.

The appointment of Fiera as sub-advisor applies to all G5|20 and G5|20i funds:


  • CI G5|20 2038 Q3 Fund
  • CI G5|20 2038 Q4 Fund
  • CI G5|20 2039 Q1 Fund
  • CI G5|20 2039 Q2 Fund
  • CI G5|20 2039 Q3 Fund
  • CI G5|20 2039 Q4 Fund
  • CI G5|20 2040 Q1 Fund
  • CI G5|20 2040 Q2 Fund
  • CI G5|20 2040 Q3 Fund
  • CI G5|20 2040 Q4 Fund
  • CI G5|20 2041 Q1 Fund
  • CI G5|20 2041 Q2 Fund
  • CI G5|20i 2034 Q2 Fund
  • CI G5|20i 2034 Q3 Fund
  • CI G5|20i 2034 Q4 Fund
  • CI G5|20i 2035 Q1 Fund
  • CI G5|20i 2035 Q2 Fund
  • CI G5|20i 2035 Q3 Fund
  • CI G5|20i 2035 Q4 Fund
  • CI G5|20i 2036 Q1 Fund
  • CI G5|20i 2036 Q2 Fund

 

G5|20 funds distribute cash flow after a five-year accumulation period and G5|20i funds distribute their cash flow immediately.

About CI Investments – Canada's Investment Company

CI Investments Inc. is one of Canada's largest investment management companies. CI offers a broad range of investment products and services, 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 $149.4 billion in assets as of October 31, 2016.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Except as described below, mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Bank of Montreal guarantees that at least the original amount you paid for the fund unit will be paid back to you over a 20-year period in equal monthly instalments. This guarantee does not apply to units redeemed before the end of that period. You will receive the net asset value per unit for any unit redeemed early. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer.

®CI Investments, the CI Investments design and G5|20 Series are registered trademarks of CI Investments Inc. BMO Financial Group and Bank of Montreal are marketing names (also referred to as trade names or brand names) used by Bank of Montreal. "BMO", "BMO Financial Group", "BMO (M-bar roundel symbol) Financial Group", "Bank of Montreal" and "BMO Capital Markets" are trademarks owned by Bank of Montreal.  

SOURCE CI Financial Corp.

For further information: Murray Oxby, Director, Communications, CI Investments, (416) 681-3254, moxby@ci.com

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