TSX Symbol: CIX
TORONTO, Nov. 26, 2012 /CNW/ - CI Investments Inc. ("CI") today announced portfolio management changes that will introduce two alternative asset management teams to its mutual fund lineup.
Under the changes, which are effective on or about December 1, 2012, Red Sky Capital Management Ltd. has been appointed sub-advisor to a portion of CI Canadian Small/Mid Cap Fund. Toronto-based Red Sky Capital, headed by Timothy Lazaris, manages a multi-strategy hedge fund focused on North American equities.
In addition, Lawrence Park Capital Partners Ltd. has been appointed sub-advisor to a portion of the United Canadian Fixed Income Pool, which is part of CI's United Financial lineup of managed solutions. Toronto-based Lawrence Park focuses on fixed-income and credit strategies and is led by David Fry and Andrew Torres.
"We are very pleased to expand our association with these experienced portfolio management teams and to make their expertise available within CI's broader fund lineup," said Derek J. Green, CI President.
"The Red Sky partners have over 70 years of combined capital markets experience and have successfully managed the Red Sky Partners Fund through difficult market conditions," Mr. Green said.
"The Lawrence Park team, with over 65 years of combined experience in global fixed-income and credit investing, offers a unique approach to fixed-income investing aimed at enhancing yield and reducing volatility."
Picton Mahoney Asset Management will continue to manage the remainder of the CI Canadian Small/Mid Cap Fund portfolio and Signature Global Advisors will continue as co-manager of United Canadian Fixed Income.
In other changes, CI Global Managers® Corporate Class has adopted a fund-on-fund structure to provide access to different portfolio management teams with global expertise. Previously, Altrinsic Global Advisors, Epoch Investment Partners, Signature Global Advisors and Trident Investment Management directly managed portions of the portfolio. The fund now invests in units of CI Global Value Fund (Altrinsic), CI Global High Dividend Advantage Fund (Epoch) and Signature Select Global Fund (Signature), with the allocation being determined by CI Investment Consulting.
CI is one of Canada's largest investment management companies. It offers a broad 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 approximately $97 billion in assets as of October 31, 2012.
SOURCE: CI Investments Inc.
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