TSX Symbol: CIX
TORONTO, Dec. 12, 2014 /CNW/ - CI Investments Inc. ("CI") today announced portfolio management changes to CI Canadian Small/Mid Cap Fund and Red Sky Canadian Equity Corporate Class, effective January 9, 2015.
CI Canadian Small/Mid Cap Fund
Manulife Asset Management and QV Investors Inc. have been named sub-advisors to this multi-manager fund that focuses on small and mid-capitalization North American companies. The portfolio manager of the Manulife portion of the portfolio will be Ted Whitehead, Senior Managing Director and Senior Portfolio Manager at Manulife. Manulife is also sub-advisor to CI Alpine Growth Equity Fund. Portfolio managers of the QV portion of the portfolio will be Joe Jugovic, QV's Chief Investment Officer, President and Chief Executive Officer, and Ian Cooke, Vice-President and Portfolio Manager. QV is also sub-advisor to CI Can-Am Small Cap Corporate Class.
Picton Mahoney Asset Management will continue as a sub-advisor to the fund, with David Picton, President and Portfolio Manager, and James Lawson, Portfolio Manager, continuing as portfolio managers.
Red Sky Canadian Equity Corporate Class
Cambridge Global Asset Management, a division of CI, has been named portfolio advisor to Red Sky Canadian Equity Corporate Class, with Brandon Snow as lead portfolio manager. Mr. Snow is also portfolio manager of Cambridge Canadian Equity Corporate Class. In addition, Red Sky Canadian Equity Corporate Class is being closed to all purchases as of December 31, 2014.
The appointments are being made to replace Red Sky Capital Management Ltd., which has resigned as sub-advisor to the two funds following a decision by Timothy Lazaris, the firm's President and Chief Executive Officer, to no longer manage mutual funds. Mr. Lazaris will be focusing on private family office investing.
About CI Investments – Canada's Investment Company
CI Investments is one of Canada's largest investment management companies. It offers a wide 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 $133 billion in assets as of November 30, 2014.
SOURCE: CI Investments Inc.
For further information: Derek J. Green, President, CI Investments, (416) 364-1145