TORONTO, Sept. 30, 2019 /CNW/ - CI Investments Inc. ("CI") announced today that assets under management in its liquid alternative funds have exceeded $1 billion, just 10 months after launch.
"Our strong lineup of focused mandates and portfolio managers with demonstrated experience and success in alternative strategies have resonated with advisors and investors alike," said Roy Ratnavel, Executive Vice-President and Head of Sales for CI. "CI's liquid alternatives provide the best of both worlds – specialized boutique managers backed by the financial strength and integrity of a large investment company."
Liquid alternatives are a new category of mutual funds that incorporate investment strategies, such as short selling, leverage and derivatives, that in the past have typically been available only to hedge funds. "Liquid" refers to the investment vehicle itself – a mutual fund that can be bought and sold on a daily basis – while "alternative" relates to the non-traditional investment strategies available to the portfolio manager.
"Advisors are increasingly turning to liquid alternatives as a tool in building well-rounded investment portfolios for their clients," said Kurt MacAlpine, Chief Executive Officer of CI Financial, parent company of CI. "We are pleased with the early leadership position we have established and will continue to make investments to expand our offering in this fast-growing segment of the market."
The CI Liquid Alternatives lineup includes:
- CI Lawrence Park Alternative Investment Grade Credit Fund – a corporate bond mandate with an investment grade bias, seeking to profit from inefficiencies and mispricings through alternative credit trading strategies.
- CI Marret Alternative Absolute Return Bond Fund and CI Marret Alternative Absolute Return Bond Fund (USD Hedged) – a flexible, "go-anywhere" fixed-income mandate seeking to profit through all phases of a market cycle.
- CI Munro Alternative Global Growth Fund – a global growth mandate identifying and profiting from companies primed to be the winners and losers from structural and thematic changes in the world today.
CI Liquid Alternatives are based on the Canadian Securities Administrators' "alternative mutual funds" rules under National Instrument 81-102 Investment Funds. For more information about CI Liquid Alternatives, visit liquidalts.ci.com.
About CI Investments – Trusted Partner in Wealth™
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, Canadian-owned wealth management firm with $176.1 billion in assets as of August 31, 2019.
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. "Trusted Partner in Wealth™" and CI Liquid Alternatives™ are trademarks of CI Investments Inc.
SOURCE CI Financial Corp.
For further information: Murray Oxby, Vice-President, Communications, CI Investments Inc., 416-681-3254, [email protected]