TORONTO, May 24, 2017 /CNW/ - CI Investments Inc.
("CI") is pleased to announce the addition of highly experienced
and successful portfolio manager Peter
Hofstra to its Harbour Advisors investment team. CI is also
announcing portfolio management changes to a number of funds.
Mr. Hofstra, who will begin his position as Senior
Vice-President and Senior Portfolio Manager on July 3, 2017, has over 15 years of experience
investing in Canadian and U.S. equities. Most recently, he was
Chief Investment Officer, Lead Portfolio Manager and Securities
Analyst at Manitou Investments, a well-regarded investment
counselling firm. Prior to that, he was a portfolio manager at
another diversified Canadian asset manager. Mr. Hofstra holds a
bachelor's degree in chemistry, a PhD in engineering physics and
the Chartered Financial Analyst designation. He will join
award-winning Senior Portfolio Managers Ryan Fitzgerald and Roger Mortimer as the third lead manager at
Harbour Advisors.
"Under Peter's investment leadership, Manitou has achieved consistently strong
investment results across a variety of strategies, including
Canadian equity, U.S. equity and North American equity," said
Neal Kerr, Executive Vice-President,
Investment Management, CI Investments. "His appointment speaks to
CI's continued commitment to the Harbour team and its investment
funds. Harbour offers its investors deep expertise and extensive
experience in conservative value investing, with three senior
portfolio managers leading a group of nine additional investment
professionals."
CI also announced that Harbour Advisors is being named portfolio
advisor to all funds currently sub-advised by Tetrem Capital
Management, on or about July 15,
2017. Daniel Bubis, Tetrem's
Founder and Chief Investment Officer, has decided to close his
business and cease managing money for external investors. As a
result, Tetrem is resigning from its CI mandates.
The Harbour approach is closely aligned with Tetrem's investment
style and this change will ensure that these portfolios remain
suitable for clients seeking a conservative, value-based approach
to equity investing.
Below is a list of the affected CI funds, along with each fund's
new lead portfolio manager:
• CI Canadian Dividend Fund
|
(Roger
Mortimer)
|
• CI Canadian Investment Fund
|
(Ryan
Fitzgerald)
|
• CI Canadian Investment Corporate
Class
|
(Ryan
Fitzgerald)
|
• Portion of Select Canadian Equity Managed
Corporate Class
|
(Ryan
Fitzgerald)
|
• Portion of Select Canadian Equity Managed
Fund
|
(Ryan
Fitzgerald)
|
• Portion of Synergy Tactical Asset Allocation
Fund
|
(Ryan
Fitzgerald)
|
• United Canadian Equity Value Pool
|
(Peter
Hofstra)
|
• United Canadian Equity Value Corporate
Class
|
(Peter
Hofstra).
|
Harbour is also replacing Altrinsic Global Advisors as manager
of the international portions of CI Canadian Investment Fund and CI
Canadian Investment Corporate Class.
Mr. Fitzgerald is also Lead Portfolio Manager of Harbour Fund,
Harbour Corporate Class and Harbour Global Equity Corporate Class.
Mr. Mortimer is Lead Portfolio Manager of Harbour Growth &
Income Fund, Harbour Growth & Income Corporate Class and
Harbour Global Growth & Income Corporate Class, a Morningstar
five-star rated fund.*
About CI Investments – Canada's Investment Company
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
$163.6 billion in assets as of
April 30, 2017.
*© 2017 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. Morningstar Ratings reflect performance as of
April 30, 2017 and are subject to
change monthly. The ratings are calculated from a fund's 3, 5, and
10-year returns measured against 91-day Treasury bill and peer
group returns. For each time period the top 10% of the funds in a
category get five stars. The Overall Rating is a weighted
combination of the 3, 5 and 10-year ratings. For greater detail
see www.morningstar.ca. For Harbour Global
Growth & Income Corporate Class (Class F), the star rating and
number of Global Equity Balanced funds for each period are as
follows: overall – 5 stars; 3 years – 5 stars, 683 funds; 5 years –
5 stars, 481 funds; 10 years – 4 stars, 204 funds. As of
April 30, 2017, returns for the fund
are: 14.8% (1 yr); 9.4% (3 yrs); 12.2% (5 yrs) and 5.7% (10
yrs).
Commissions, trailing commissions, management fees and
expenses 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 including
changes in unit value and reinvestment of all distributions and do
not take into account sales, redemption, distribution or optional
charges or income taxes payable by any unitholder that would have
reduced returns. Mutual funds are not guaranteed, their values
change frequently and past performance may not be repeated.
Harbour Advisors is a division of CI Investments Inc. Certain
funds associated with Harbour Advisors are sub-advised by CI Global
Investment Inc., a firm registered with the U.S. Securities and
Exchange Commission and an affiliate of CI Investments Inc.
Roger Mortimer is associated
with CI Global Investments Inc.
SOURCE CI Financial Corp.