CI Global Asset Management Announces Launch of CI Global Climate Leaders and CI Alternative North American Opportunities mutual funds and ETFs

New North American equity mandate builds on CI’s leadership in liquid alternatives category.

 

TORONTO (July 13, 2021) – CI Global Asset Management (“CI GAM”) today announced the launch of two new equity mandates – CI Global Climate Leaders Fund, which focuses on firms leading the global campaign against climate change, and CI Alternative North American Opportunities Fund, which uses alternative strategies to invest in innovative high-growth companies.

 

Both funds are offered in mutual fund and exchange-traded fund series. The ETF Series begin trading today on the Toronto Stock Exchange (“TSX”), with CI Global Climate Leaders Fund using the tickers CLML (C$ Series units) and CLML.U (US$ Hedged Series units) and CI Alternative North American Opportunities Fund using CNAO (C$ Series units) and CNAO.U (US$ Hedged Series units).

 

“These timely new investment solutions are designed to meet investors’ evolving needs and preferences and reflect the continuing modernization of our product lineup and asset management business,” said Roy Ratnavel, CI GAM’s Executive Vice-President and Head of Distribution.

 

“CI Global Climate Leaders Fund allows Canadians to focus on one of the most important economic and societal trends today and to invest in support of the drive to a zero-carbon economy,” Mr. Ratnavel said.

 

“We believe that climate change represents the biggest investment opportunity since the internet,” said Nick Griffin, Chief Investment Officer of Munro Partners (“Munro”), portfolio sub-advisor of CI Global Climate Leaders Fund. “We are just at the beginning of the next big S-curve, a massive and sustainable decades-long growth trend. We aim to find those companies that are best positioned to win during this great global transition of decarbonization.”

 

CI Alternative North American Opportunities Fund is the latest entry in CI GAM’s industry-leading suite of liquid alternative funds, which access investment strategies beyond those typically used by traditional mutual funds and ETFs – providing the potential for enhanced diversification, enhanced returns and reduced volatility.

 

“The expanded toolbox available to liquid alts can provide valuable benefits in today’s challenging investment environment, and our alternative lineup has attracted significant investor interest,” Mr. Ratnavel said. “CI Alternative North American Opportunities Fund uses these sophisticated strategies to provide investors with exposure to a well-diversified, high-quality portfolio of North American growth companies, coupled with the downside protection not available to traditional long-only funds.”

 

CI GAM managed $4.0 billion in liquid alternative mutual funds and ETFs (as at June 30, 2021), the most of any firm in the Canadian industry.

 

CI Global Climate Leaders Fund

• The fund’s investment objective is to provide long-term capital growth, by investing primarily in a concentrated long-only portfolio of companies focused on decarbonization and climate change located anywhere in the world.
• Munro is a Melbourne-based global investment manager specializing in growth equities. The firm uses a proven investment process that has identified and invests in over 20 key structural growth trends, including climate, which is currently one of the largest themes in its portfolios.
• Munro has identified an initial cohort of companies that are well positioned to benefit from structural change related to climate change, largely drawn from four sub-sectors: clean energy; electric transportation and batteries; buildings and efficiency; packaging and waste and water management.
• The fund has a concentrated portfolio, which will typically range from 15 to 25 listed equities.
• Munro also manages CI Munro Alternative Global Growth Fund and CI Munro Global Growth Equity Fund.

 

CI Alternative North American Opportunities Fund

• The fund’s investment objective is to seek to generate high absolute returns over the long-term, balanced with a capital preservation mindset, by primarily investing in growth-oriented North American equities.
• The portfolio is managed by a CI GAM team led by Senior Portfolio Manager Peter Hofstra, who has over 19 years of investment management experience.
• The team uses thematic work to identify areas of the economy expected to grow rapidly along with company-specific analysis to build a concentrated portfolio of 25 to 75 high-quality holdings. The team also identifies weak firms or companies in declining industries as potential short sales.
• Mr. Hofstra is also Lead Portfolio Manager of several other CI funds, including CI North American Dividend Fund, which outperformed 99% of its peer funds in each of the three, five and 10-year periods ending June 30, 2021.*

 

Fund merger update

 

CI GAM also announced that shareholders of Cambridge Monthly Income Corporate Class and the regulators have approved the previously announced merger of the fund into Cambridge Global High Income Fund. This merger, along with the merger of Cambridge Monthly Income Fund into Cambridge Global High Income Fund (each, a “Merger”, and collectively, the “Mergers”), will be implemented after the close of business on or about July 23, 2021.

 

The Mergers will result in the termination of Cambridge Monthly Income Fund and Cambridge Monthly Income Corporate Class. Securityholders of these two terminating funds will receive the equivalent dollar value of securities in the corresponding series of Cambridge Global High Income Fund. The merger of Cambridge Monthly Income Fund into Cambridge Global High Income Fund will be effected on a tax-deferred basis. The Merger of Cambridge Monthly Income Corporate Class into Cambridge Global High Income Fund will be effected on a taxable basis, and the terminating fund also may pay a distribution when the Merger takes place. Please note that Cambridge Global High Income Fund is being renamed CI Global Equity & Income Fund effective July 29, 2021.

About CI Global Asset Management

 

CI Global Asset Management 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 GAM is a subsidiary of CI Financial Corp. (TSX: CIX, NYSE: CIXX), an independent company offering global asset management and wealth management advisory services with approximately $288.3 billion in total assets as at May 31, 2021.

 

*Performance as at June 30, 2021 (%)	1 year	3 years	5 years	10 years
CI North American Dividend Fund (Series F)	32.95	13.21	11.16	10.13
Canada Fund Canadian Dividend & Income Equity Category	34.09	7.95	8.01	6.87
Number of funds in the category	530	476	419	188

Source: Morningstar Research Inc., as at June 30, 2021.

 

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund and exchange-traded fund (ETF) investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compound total returns net of fees and expenses payable by the fund (except for figures of one year or less, which are simple total returns) including changes in security value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds and ETFs are not guaranteed, their values change frequently, and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them.

 

This document is provided as a general source of information and should not be considered personal, legal, accounting, tax or investment advice, or construed as an endorsement or recommendation of any entity or security discussed. Every effort has been made to ensure that the material contained in this document is accurate at the time of publication.  Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies.

 

Certain statements in this document are forward-looking. Forward-looking statements (“FLS”) are statements that are predictive in nature, depend upon or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “intend,” “plan,” “believe,” or “estimate,” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions. Although the FLS contained herein are based upon what CI Global Asset Management believes to be reasonable assumptions, CI Global Asset Management cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.

 

© 2021 Morningstar Research, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

 

CI Global Asset Management is a registered business name of CI Investments Inc. ©CI Investments Inc. 2021. All rights reserved.

 

Munro Partners is the portfolio subadvisor to certain funds offered and managed by CI Global Asset Management.

 

Contact

Murray Oxby
Vice-President, Corporate Communications
CI Global Asset Management
416-681-3254
moxby@ci.com