TORONTO, June 1, 2020 /CNW/ - CI Investments Inc. ("CI")
today announced portfolio management changes to two investment
funds:
- Marret Asset Management Inc. ("Marret"), an affiliate of CI,
has been appointed portfolio manager of CI First Asset Active
Credit ETF (TSX: FAO), effective on or about June 30, 2020.
- Sentry Investment Management ("Sentry"), a division of CI, has
been appointed portfolio manager of a portion of CI Canadian
Small/Mid Cap Fund, effective on or about June 15, 2020.
"Sentry and Marret each have a disciplined investment approach
and extensive experience in the specializations required for these
portfolios," said Roy Ratnavel,
Executive Vice-President and Head of Distribution for CI.
"Marret's expertise as active fixed-income investors, especially
in corporate credit, make the team a natural fit for the CI First
Asset Active Credit mandate. For CI Canadian Small/Mid Cap, we
selected Sentry as part of a move to increase the fund's allocation
to U.S. stocks. The Sentry team has a strong track record in
managing portfolios focused both on North American small-cap
companies and U.S. equities."
Marret is a specialist fixed-income investment firm focused on
corporate credit strategies. The team's experience includes
investment-grade and high-yield corporate credit, short-term cash
alternatives, and opportunistic distressed debt. Lead Portfolio
Manager will be Paul Sandhu,
President and Chief Executive Officer, who has over 30 years of
Canadian and global fixed-income experience. His co-manager will be
Adrian Prenc, Vice-President,
Portfolio Manager and Chief Risk Officer, who has over 20 years of
investment experience.
CI Canadian Small/Mid Cap Fund is a multi-manager fund, with
each manager chosen to provide enhanced diversification by
investment style and other factors. Given that the fund may hold up
to 49% foreign content, CI will be increasing its allocation to
U.S. companies. CI selected Sentry due to its proven results in
managing U.S. and small and mid-cap portfolios, its strong fit with
the fund's objectives and its ability to complement the other
investment teams. Lead Portfolio Managers of the Sentry portion
will be Aubrey Hearn, Head of
Equities, Vice-President and Senior Portfolio Manager, who has over
15 years' investment experience, and Jack
Hall, who has more than eight years of investment
experience.
Picton Mahoney Asset Management and QV Investors Inc. will each
continue to manage their portion of the CI Canadian Small/Mid Cap
Fund's portfolio with Lead Portfolio Manager CI Multi-Asset
Management, a division of CI, continuing to provide oversight and
determining the allocations between investment teams. Sentry is
replacing Manulife Investment Management.
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 each
of the funds.
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 $166.3 billion in fee-earning
assets as of April 30, 2020.
Commissions, trailing commissions, management fees and
expenses all may be associated with an investment in mutual funds
and exchange traded funds (ETFs). Please read the prospectus before
investing. Important information about mutual funds and ETFs is
contained in their respective prospectus. 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 the TSX. If the
units are purchased or sold on the TSX, 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.
CI Investments and the CI Investments design are registered
trademarks of CI Investments Inc. ©CI Investments Inc. 2020. All
rights reserved.
SOURCE CI Investments Inc.
