CI Investments makes top-performing global growth fund available to retail investors, reduces minimum investments for CI Private Pools™
TORONTO (August 11, 2020) – CI Investments Inc. (“CI”) announced today that CI Munro Global Growth Equity Fund, a concentrated global equity mandate aimed at identifying and benefiting from sustainable global growth trends, has been launched in three new series for retail investors. The portfolio is managed by Munro Partners (“Munro”), an experienced and accomplished global investment team based in Melbourne, Australia.
In addition, CI announced that is has reduced the minimum investment level for its family of CI Private Pools™ to $25,000 per pool, making this versatile and compelling investment opportunity available to a wider range of Canadian investors.
CI Munro Global Growth Equity Fund
CI Munro Global Growth Equity Fund invests in a portfolio of 20-40 global companies expected to benefit from important structural changes occurring in the world today that are underappreciated and mispriced by the market. The Series I version of the fund, available only to institutional investors since January 2019, has strongly outperformed its benchmark since inception with an average annual return of 30.6% versus the MSCI ACWI Index return of 12.6%, as at July 31, 2020.* The newly launched series of the fund for retail investors are Series A, Series F, and Series P.
“Munro has an impressive track record of recognizing and capitalizing on key areas of growth in the global economy for the benefit of investors,” said Roy Ratnavel, Executive Vice-President and Head of Distribution for CI. “This fund is a strong solution for longer-term investors seeking exposure to a global, growth-oriented equity portfolio.”
Munro is an independent investment manager with a core focus on global growth equities. With more than $2 billion in assets under management, the firm gives investors access to institutional-quality management. Lead Portfolio Manager of CI Munro Global Growth Equity Fund is Munro’s Chief Investment Officer Nick Griffin, who has over 14 years in managing global equity mandates. He is supported by portfolio managers Jeremy Gibson, James Tsinidis and Kieran Moore.
While lower interest rates have supported the performance of growth stocks in recent years, that doesn’t tell the whole story, Mr. Griffin points out. In many cases, technology and innovation are allowing companies to take advantage of disruptive trends and become clear structural winners.
“Like every generation before us, we are experiencing large structural changes in the way we live ‒ whether it be in digital transformation, health care innovation or climate change,” Mr. Griffin said. “At Munro, we seek to identify these changes and the key corporate beneficiaries in a concentrated portfolio to achieve superior investment returns for our clients.”
Munro is also portfolio sub-advisor to CI Munro Alternative Global Growth Fund, a long/short global growth mandate that is part of the CI Liquid Alternatives lineup of funds. The fund has achieved impressive performance in the recent challenging market conditions, returning 31.8% for the 12 months ending July 31, 2020.* Liquid alternative funds have access to non-traditional investment strategies with the potential for enhancing diversification, returns and risk management.
CI Private Pools
CI also announced that the minimum investment for its 21 CI Private Pools mandates has been reduced from $100,000 to $25,000 per pool. Introduced in October 2018, the flat-fee private pools span a broad range of asset classes, geographic regions and investment styles.
With highly focused investment mandates, CI’s private pools leverage the capabilities of CI’s experienced portfolio management teams. They are designed as convenient “building blocks” that can be used to construct tailored investor portfolios. The lineup was recently expanded with the launch of three mandates aimed at meeting the growing investor demand for real assets. For more information, please visit the CI Private Pools website.
The changes announced today are part of CI’s ongoing strategy of modernizing its asset management business. Other recent enhancements include the launch of the CI DoubleLine income mandates, the CI Global Longevity Economy Fund, and CI Marret Alternative Enhanced Yield Fund, the fourth entry in CI’s successful lineup of liquid alternative – or “liquid alt” – 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 approximately $187 billion in total assets as at July 31, 2020.
|*Performance in %||YTD||
|CI Munro Global Growth Equity Fund Series 1||28.9||34.5||-||-||-||30.6|
|CI Munro Alternative Global Growth Fund Series F||26.7||31.8||-||-||-||18.9|
|MSCI ACWI Index CAD||2.3||9.9||10.1||8.6||12.4||N/A|
Source: Morningstar Direct as at July 21, 2020.
*Inception date for CI Munro Alternative Global Growth Class F is November 7, 2018; inception date for CI Munro Global Growth Equity Class I is January 25, 2019.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded 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 dividends/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 are not guaranteed, their values change frequently and past performance may not be repeated.
This press release contains forward-looking statements concerning anticipated future events, results, circumstances, performance or expectations with respect to CI Financial Corp. (“CI”) and its products and services, including its business operations, strategy and financial performance and condition. Forward-looking statements are typically identified by words such as “believe”, “expect”, “foresee”, “forecast”, “anticipate”, “intend”, “estimate”, “goal”, “plan” and “project” and similar references to future periods, or conditional verbs such as “will”, “may”, “should”, “could” or “would”. These statements are not historical facts but instead represent management beliefs regarding future events, many of which by their nature are inherently uncertain and beyond management’s control. Although management believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements involve risks and uncertainties. The material factors and assumptions applied in reaching the conclusions contained in these forward-looking statements include that the investment fund industry will remain stable and that interest rates will remain relatively stable. Factors that could cause actual results to differ materially from expectations include, among other things, general economic and market conditions, including interest and foreign exchange rates, global financial markets, changes in government regulations or in tax laws, industry competition, technological developments and other factors described or discussed in CI’s disclosure materials filed with applicable securities regulatory authorities from time to time. The foregoing list is not exhaustive and the reader is cautioned to consider these and other factors carefully and not to place undue reliance on forward-looking statements. Other than as specifically required by applicable law, CI undertakes no obligation to update or alter any forward-looking statement after the date on which it is made, whether to reflect new information, future events or otherwise.
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©2020 Morningstar Research Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (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 Investments and the CI Investments design are registered trademarks of CI Investments Inc. CI Liquid Alternatives and CI Private Pools are trademarks of CI Investments Inc. ©CI Investments Inc. 2020. All rights reserved.
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