TORONTO, June 22, 2020 /CNW/ - CI Investments Inc. ("CI") today announced portfolio management changes to Select U.S. Equity Managed Fund and Select U.S. Equity Managed Corporate Class, effective on or about July 13, 2020.
Select U.S. Equity Managed is a multi-manager strategy with each investment team representing a distinct investment style. The mandate is part of CI's Portfolio Select Series program, which offers a selection of well-diversified portfolios designed to meet a wide range of investment objectives.
The following teams have been appointed portfolio sub-advisors to manage a portion of the funds' portfolios:
- Wellington Management Canada ULC's Disciplined U.S. Growth team has achieved strong results using a growth approach to investing in U.S. companies. The team, led by Portfolio Manager Mammen Chally, also manages U.S. Equity Growth Pool and U.S. Equity Growth Corporate Class on behalf of CI.
- Harbour Advisors ("Harbour"), a division of CI, uses a proprietary Quality Optimized Returns ("QOR") process that combines deep dive analytical stock picking research with a systematic portfolio construction discipline to create concentrated, quality-oriented portfolios. Chief Investment Officer Peter Hofstra has over 18 years' experience investing in North American stocks and the Harbour team currently manages several other North American equity mandates within CI.
"Wellington and Harbour are both experienced and proven U.S. equity managers," said Roy Ratnavel, Executive Vice-President and Head of Distribution for CI. "We believe these changes will result in a better balance of the style factors across the funds and improve their performance potential. CI is continually enhancing and modernizing the Portfolio Select Series program and our entire product lineup to ensure our solutions remain relevant to the changing needs of Canadian investors."
Portfolio Select Series is overseen by CI Multi-Asset Management, which is responsible for the overall asset allocation, risk management and manager selection for the portfolios. Epoch Investment Partners, Inc., Picton Mahoney Asset Management, and Sentry Investment Management, a division of CI, continue to manage portions of the Select U.S. Equity Managed portfolios.
The Independent Review Committee of the funds has reviewed the portfolio management changes with respect to potential conflict of interest matters and provided its positive recommendation, having determined that they achieve a fair and reasonable result for each of the funds.
About CI Investments
CI Investments is one of Canada's largest investment management companies. It offers a wide 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 company offering global asset management and wealth management advisory services with approximately $172 billion in fee-earning assets as of May 31, 2020.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
CI Investments and the CI Investments design are registered trademarks of CI Investments Inc.
©CI Investments Inc. 2020. All rights reserved.
SOURCE CI Investments Inc.
For further information: Murray Oxby, Vice-President, Communications, CI Investments Inc., 416-681-3254, [email protected]