TSX Symbol: CIX.UN
TORONTO, March 2 /CNW/ - CI Investments Inc. ("CI") today announced the
launch of Signature Global Income & Growth Fund, which offers Canadian
investors a monthly distribution, exposure to global financial markets, and
the expertise of CI's award-winning Signature Advisors investment management
CI also announced the introduction of a corporate class version of its
popular CI Global High Dividend Advantage Fund, which focuses on
dividend-paying global companies.
Signature Global Income & Growth Fund, which is also available as
Signature Global Income & Growth Corporate Class, is a balanced fund designed
to provide income and long-term growth by investing in a diversified portfolio
of global equity and income securities.
The fund has a highly flexible mandate with no restrictions on the
portfolio's asset class and geographic allocations. Lead Portfolio Manager is
Eric Bushell, Chief Investment Officer of Signature Advisors.
"Eric Bushell and the portfolio managers and analysts at Signature have
posted exceptional results in their Canadian equity and income funds, and this
new fund allows them the freedom to select their best investment opportunities
on a global basis," said Peter W. Anderson, CI Chief Executive Officer.
The fund will pay a distribution of five cents per month, for an annual
yield of 6% based on its net asset value at inception of $10 per unit. The
fund will have an initial asset allocation of approximately 60% equities and
20% in high-yield bonds, with the remainder invested in government bonds and
investment-grade corporate bonds, other income securities and cash.
The fund will take full advantage of the Signature team's expertise in
researching and selecting global securities. Signature manages more than
$21.5 billion in assets across various equity, income and balanced mandates,
of which approximately $5 billion is invested in foreign securities.
"Over the past five years, we have focused on building a global research
capability within Signature Advisors, and the end of the foreign content limit
and the continued consolidation of publicly traded Canadian companies have
confirmed that this was the right decision," Mr. Bushell said.
"Our team consists of portfolio managers and analysts who are specialists
in their global industry sectors, with consistent access to senior management
of multinational companies. Investors in the new fund will get the full
benefit of this expertise, which ensures that we are generating strong
investment ideas in sectors around the world and across the full range of
Signature Global Income & Growth is the global equivalent of Signature
Income & Growth Fund, a successful income-oriented balanced fund that invests
primarily in Canadian securities. That fund has a four-star rating from
Morningstar Canada and first-quartile performance over the three and five
years ending January 31, 2007 (Source: Morningstar Canada).
The Signature team has won several Canadian Investment Awards for its
funds, including Best Canadian Income Trust Fund in 2004 (Signature High
Income Fund), Best Dividend Fund in 2001 and 2002 (Signature Dividend Fund)
and Best Canadian Equity Fund in 2001 (Signature Select Canadian Fund).
Signature Global Income & Growth Corporate Class is part of CI's tax
efficient corporate class structure. As such, the fund does not pay a monthly
distribution, but its earnings will be retained within the fund.
CI has also launched CI Global High Dividend Advantage Corporate Class, a
version of CI Global High Dividend Advantage Fund, an income-oriented global
equity fund managed by Wall Street veteran William Priest and his team at
Epoch Investment Partners Inc. of New York. CI Global High Dividend Advantage
Fund uses a value-driven approach to invest in companies with growing cash
flow and dividends. The fund has gathered about $582 million in assets since
its launch in January 2006.
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: Peter W. Anderson, Chief Executive Officer, CI
Investments Inc., (416) 364-1145