TSX Symbol: CIX.UN
TORONTO, March 27 /CNW/ - The Bank of Nova Scotia and CI Investments Inc.
today announced the launch of The Bank of Nova Scotia - CI Performer(TM)
Deposit Notes, offering principal protection, monthly income and the potential
for capital growth.
"Income continues to be the main objective for many Canadian investors
and The Bank of Nova Scotia - CI Performer Deposit Notes are designed to meet
that need, with the added benefit of principal protection," said David R.
McBain, Senior Vice-President of CI Investments.
The returns of the deposit notes are linked to the performance of
Signature Income & Growth Fund, a leading income-oriented balanced fund from
CI Investments. The deposit notes are being launched with an initial 125%
exposure to the fund, and a dynamic allocation strategy allows for up to 200%
exposure to the fund. The Deposit Notes also provide for the repayment of all
of investors' principal if held until maturity, regardless of the performance
of the fund.
Signature Income & Growth Fund is managed by CI Investments' Signature
Advisors portfolio management team led by Chief Investment Officer Eric
Bushell. The fund invests in a well-diversified mix of income-generating
securities, including equities, high-yield bonds and other income securities,
and is positioned to maximize the short-term benefits of each asset class. The
fund pays monthly distributions for a targeted annual yield of approximately
The deposit notes are available in two series. The Bank of Nova Scotia -
CI Performer Deposit Notes (Yield), Series 1, are designed to add income and
growth potential to registered portfolios, while The Bank of Nova Scotia - CI
Performer Deposit Notes (Return of Capital), Series 1, are appropriate for
non-registered accounts with tax-efficient monthly payments.
Both series make monthly payments with a targeted yield of 5.76% annually
based on 125% exposure to the fund, and a potential yield of 9.21% based on
200% exposure. The Bank of Nova Scotia - CI Performer Deposit Notes (Yield),
Series 1, make monthly payments that, in the opinion of tax counsel retained
by The Bank of Nova Scotia, should be eligible to be treated as interest
income, while The Bank of Nova Scotia - CI Performer Deposit Notes (Return of
Capital), Series 1, offer monthly partial principal repayments that, in the
opinion of tax counsel retained by The Bank of Nova Scotia, should be eligible
to be treated as tax-efficient return of capital.
The Bank of Nova Scotia - CI Performer Deposit Notes are 100% eligible
for registered plans and are available through financial advisors until
May 18, 2007. The issue price is $100 per deposit note, with a minimum
investment of $5,000. The complete terms of the offering are set out in the
information statement, which can be obtained by investors from their advisors.
Further information about the deposit notes can also be found at www.ci.com.
CI Investments Inc. is a corporation controlled by CI Financial Income
Fund (TSX: CIX.UN), an independent, Canadian-owned wealth management firm with
approximately $83.4 billion in fee-earning assets as of February 28, 2007. CI
offers a broad range of investment products and services, including an
industry-leading selection of investment funds, and is on the Web at
For further information:
For further information: David R. McBain, Senior Vice-President, CI
Investments Inc., (416) 364-1145