TSX Symbol: CIX
TORONTO, July 20, 2016 /CNW/ - CI Investments Inc. ("CI") today announced that Cambridge Canadian Growth Companies Fund has been re-opened to new investors. CI also announced portfolio management changes concerning Cambridge Global Asset Management and the Cambridge funds.
Cambridge Canadian Growth Companies Fund invests primarily in growth-oriented Canadian small and mid-cap firms and has achieved strong performance since its inception in February 2011. The fund had been closed to new investors in March 2014 after experiencing significant asset growth.
Since then, the Cambridge investment team has doubled in size, and has extended the range of its research in U.S. and international industry sectors. The fund, which has assets under management of $450 million, may invest up to 49% of its portfolio in foreign securities.
"The Cambridge team is well equipped to manage a much larger portfolio of small and mid-cap companies while maintaining the disciplined investment approach and stock selection process that has led to such exceptional performance," said Derek J. Green, CI President.
Lead Portfolio Manager of the fund is Greg Dean, who was co-winner of the 2015 Morningstar Award for Breakout Fund Manager of the Year. Mr. Dean is also Lead Portfolio Manager of Cambridge Growth Companies Corporate Class and Co-Lead Portfolio Manager of Cambridge Pure Canadian Equity Fund.
CI also announced that Brandon Snow has been named Chief Investment Officer of Cambridge, effective immediately. Previously, he was Co-Chief Investment Officer with Alan Radlo, who continues as Senior Portfolio Manager and Principal with Cambridge. Mr. Radlo joined CI in 2008 to found the Cambridge funds, delivering strong asset growth and solid performance over the years.
Mr. Snow joined Cambridge in 2011, and has guided the team through significant growth in personnel, assets and fund mandates. The other leaders of the team are Chief Market Strategist and Lead Portfolio Manager Robert Swanson and Lead Portfolio Managers Mr. Dean and Stephen Groff. Today, the Cambridge team manages over $15 billion in a diverse suite of Canadian and global equity, balanced and income funds from offices in Toronto and Boston. Since 2008, funds managed by Cambridge have received 37 awards for quality and category-leading risk-adjusted performance.
"After 33 tireless years in the business, Alan is stepping back from the co-CIO role. The Cambridge team and our investors will continue to benefit from his extensive investment knowledge and passion for the industry," said Mr. Snow.
Mr. Radlo is focusing his portfolio management efforts on the international equity portfolios within the Cambridge lineup, and he has relinquished his duties as co-portfolio manager of Cambridge Global Equity Corporate Class. Mr. Snow continues as lead portfolio manager.
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 are registered with CI Investments Inc.
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About CI – 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 $145 billion in assets as of June 30, 2016.
SOURCE CI Financial Corp.
For further information: Derek J. Green, President, CI Investments, (416) 364-1145