TORONTO, Aug. 25, 2020 /CNW/ - CI Investments Inc. ("CI")
today announced asset allocation and portfolio manager changes for
CI Income Fund ("the Fund"), a diversified, multi-manager income
solution. The changes will be effective on or about September 14, 2020.
CI Multi-Asset Management, which manages the Fund, recently made
the decision to reduce the overall allocation to global
infrastructure securities within CI Income Fund and to reallocate
those assets toward global real estate and other asset classes. As
a result, Signature Global Asset Management ("Signature"), already
a portfolio manager of the Fund, will manage a larger portion of CI
Income Fund's assets. Signature Portfolio Managers Kate MacDonald and Lee
Goldman, both part of the Signature global real estate
investment team, will be added as portfolio managers of the
Fund.
CI Income Fund is a multi-manager solution that invests
primarily in investment-grade fixed-income securities issued by
governments and corporations in Canada and globally. The Fund may also invest
up to 50% of its assets in other income-generating securities such
as preferred shares, common shares and real estate investment
trusts.
The Fund is managed utilizing a multi-asset framework that
allows investors to benefit from the expertise and specialization
of different management teams within a single fund as well as
significant diversification benefits by asset class, geography and
manager style.
CI Multi-Asset Management actively manages the mandate with a goal
to generating incremental excess returns and managing risk,
including concentration risk.
Kate MacDonald joined Signature
in 2018 as a portfolio manager responsible for a number of
dedicated real estate funds as well as real estate allocations
across various strategies. Prior to joining Signature, she
co-managed real estate portfolios at CI First
Asset1 since 2013. Lee
Goldman has a successful long-term track record of managing
real estate assets, having joined Signature in 2018 following 12
years as a lead manager at CI First Asset.1
Ms. MacDonald and Mr. Goldman join Signature Portfolio Managers
Geofrey Marshall, John Shaw, Alexandra
Gorewicz, Fernanda Fenton and
Kevin McSweeney as portfolio
managers of CI Income Fund. Other portfolio managers on the Fund
are Robert Swanson2,
Brandon Snow and Stephen Groff of Cambridge Global Asset
Management, Jon Case of Sentry
Investment Management and Adrian
Prenc of Marret Asset Management Inc.
As part of this asset mix change, 1832 Asset Management L.P.,
which had managed a portion of the mandate's global infrastructure
sleeve, will no longer be a sub-advisor to the Fund.
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 the
Fund.
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 $187
billion in total assets as at July
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 Multi-Asset Management, CI First Asset, Signature
Global Asset Management and Cambridge Global Asset Management are
divisions of CI Investments Inc. Certain funds associated with
Signature Global Asset Management and Cambridge Global Asset
Management are sub-advised by CI Global Investments Inc., a firm
registered with the U.S. Securities and Exchange Commission and an
affiliate of CI Investments Inc. Marret Asset Management Inc., is a
majority owned subsidiary of CI Financial Corp. and an affiliate of
CI Investments Inc.
CI Investments and the CI Investments design are registered
trademarks of CI Investments Inc.
©CI Investments Inc. 2020. All rights reserved.
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1
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First Asset Capital
Corp., prior to its acquisition by CI Financial Corp., an affiliate
of CI Investments Inc.
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2
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Associated with CI
Global Investments Inc., a firm registered with the U.S. Securities
and Exchange Commission and an affiliate of CI Investments
Inc.
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SOURCE CI Investments Inc.