July 16, 2024
CI Global Asset Management Expands Lineup of Global Fixed-Income Mutual Funds and ETF Series Mandates
Highly rated CI Global Unconstrained Bond Fund now available in ETF series
TORONTO (July 16, 2024) – CI Global Asset Management (“CI GAM”) announces enhancements to its lineup of income solutions, including an expanded selection of actively managed global bond mandates.
CI GAM has:
- Renamed CI Global Unconstrained Bond Private Pool to CI Global Unconstrained Bond Fund and reduced the minimum initial investment to $500 from $5,000.
- Launched an ETF series of CI Global Unconstrained Bond Fund. The fund has now closed its initial offering of ETF C$ Series units, which begin trading today on the Toronto Stock Exchange under the ticker CUBD.
- Launched CI Global Short-Term Bond Fund in both mutual fund and ETF series. The fund has now closed its initial offering of ETF C$ Series units, which begin trading today on Cboe Canada Inc. under the ticker CGSB.
“With these new mandates, we are meeting investor demand for additional options and flexibility in fixed-income investing,” said Jennifer Sinopoli, Executive Vice-President and Head of Distribution for CI GAM.
“Investors benefit from the deep expertise of the CI GAM fixed-income team, with experience that spans multiple mandates and asset classes, including global developed and emerging market government bonds, investment-grade and high-yield corporate bonds, currencies, derivatives and private markets.”
CI GAM manages approximately $27 billion in fixed-income assets (as at June 30, 2024), making it one of Canada’s largest fixed-income investment managers.
“By reducing the minimum investment for CI Global Unconstrained Bond Fund and launching an ETF series, we are providing increased access to a fixed-income mandate with a five-star rating from Morningstar Canada and an award-winning1 track record,” said Ms. Sinopoli. “This fund’s flexible, ‘go-anywhere’ mandate and highly diversified portfolio make it a fitting core income holding for Canadian investors.
“CI Global Short-Term Bond Fund focuses on shorter-term securities globally, providing investors with diversified monthly income and the potential for higher returns compared to cash investments, without taking on exposure to long-term bonds or equities.”
CI Global Unconstrained Bond Fund
The fund's investment objective is to generate income and the potential for long-term capital appreciation by investing primarily in a diversified portfolio of fixed-income securities of any credit quality, issued by companies or governments of any size, located anywhere in the world.
This “unconstrained” mandate allows for enhanced diversification and flexibility, leveraging the CI GAM fixed-income team’s capabilities in security section, duration construction and asset allocation.
The fund has established a strong track record since its inception in October 2018, earning an Overall Morningstar Rating of five stars for both Series A and F, and winning a FundGrade A+ Award for 2023.1
CI Global Short-Term Bond Fund
The fund’s investment objective is to provide higher amounts of interest income and capital appreciation potential relative to cash while pursuing safety of capital through investments in short-duration fixed-income securities and short-term notes.
The fund’s global mandate complements CI GAM’s existing Canadian-focused short-term bond funds. It invests primarily in fixed-income securities with a duration profile of one to three years, which may include cash equivalents, government bonds, investment-grade and high-yield corporate bonds and other corporate debt instruments, securitized bonds and collateralized loans.
About CI Global Asset Management
CI Global Asset Management (“CI GAM”) 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), an integrated global asset and wealth management company with approximately $482.2 billion in assets as at May 31, 2024.
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 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.
- ©2024 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 Global Unconstrained Bond Fund was rated against the following numbers of Multi-Sector Fixed Income funds over the following time periods: 247 funds in the last three years, and 211 funds in the last five years. Past performance is no guarantee of future results. Morningstar Rating is for the A and F share classes only; other classes may have different performance characteristics.
Morningstar Ratings reflect performance as of June 30, 2024 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.
FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award. For more information, see www.FundGradeAwards.com. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.
CI Global Unconstrained Bond Fund (formerly CI Global Unconstrained Bond Private Pool) received a FundGrade A+ Award for the year 2023 in the CIFSC multi-sector fixed income category. The FundGrade A+ Award for the fund was calculated from January 31, 2019 to December 31, 2023. Performance for CI Global Unconstrained Bond Private Pool Series F for the period ended December 31, 2023 is as follows: 1 year, 8.5%; 3 years, 2.2%; five years, 3.6%; and since inception, 3.5% (2018-10-29).
Certain statements contained in this communication are based in whole or in part on information provided by third parties and CI Global Asset Management has taken reasonable steps to ensure their accuracy. Market conditions may change which may impact the information contained in this document.
The CI Exchange-Traded Funds (ETFs) are managed by CI Global Asset Management, a wholly owned subsidiary of CI Financial Corp. (TSX: CIX). CI Global Asset Management is a registered business name of CI Investments Inc.
This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase funds managed by CI Global Asset Management and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. 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. These investments may not be suitable to the circumstances of an investor.
©CI Investments Inc. 2024. All rights reserved.
Contact:
Murray Oxby
Vice-President, Corporate Communications
CI Global Asset Management
416-681-3254
moxby@ci.com
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CI Global Asset Management is a registered business name of CI Investments Inc. © CI Investments Inc. 2024. All rights reserved.