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Fund Facts
as at June 30, 2010
| Fund Codes | Class A | Corporate Class |
| ISC | CIG7420 | CIG2307 |
| DSC | CIG7425 | CIG3307 |
| LSC | CIG1425 | CIG1307 |
| Managed By: | CI Investments Inc. |
| Advisors: | Tetrem Capital Management Ltd. |
| Assets Under Management: | $3,641.4 million |
| Portfolio Manager: | Daniel Bubis |
| Asset Class: | Canadian Equity |
| Inception Date: | November 1932 |
| NAV: | $21.42 |
| Min. Initial Investment: | $500 |
| Subsequent Purchase(s): | $50 |
| Min. PAC Investment: | $50 |
| Management Expense Ratio: | 2.26% |
Top Holdings
as at June 30, 2010
| TD Bank | 4.20% |
| Royal Bank of Canada | 3.98% |
| Suncor Energy | 3.83% |
| Power Corp of Canada | 3.73% |
| Potash Corp. of Saskatchewan | 3.13% |
| Barrick Gold Corp. | 3.05% |
| Talisman Energy | 2.91% |
| Imperial Oil | 2.63% |
| Manulife Financial | 2.43% |
| EnCana Corp. | 2.30% |
| Total | 32.19% |
Volatility Meter
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Based on 3-year standard deviation relative to other funds in its category, from Globe HySales. |
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Equity Style and Capitalization Overview
| Blend | Growth | Value | |
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(Class A)
CI Canadian Investment FundAlso available: Class F & I
Objective
This fund's objective is to achieve long-term capital growth by investing primarily in shares of major Canadian corporations. Any change to the investment objective must be approved by a majority of votes cast at a meeting of unitholders held for that reason.
Compound Returns and Quartile Rankings
as at June 30, 2010
This table shows the historical annual compound total return of the fund compared with the Globefund Group Average and Globefund's benchmark S&P/TSX Total Return. The returns listed below are percentages.
| YTD | 1Mo | 3Mo | 1Yr | 3Yr | 5Yr | 10Yr | Since Inception* | |
| Qrtl | 2 | 2 | 2 | 2 | 1 | 2 | 1 | {N/A} |
| Return | -5.05 | -3.64 | -7.55 | 6.09 | -4.98 | 2.77 | 7.32 | 9.59 |
| Grp Avg | -5.46 | -3.9 | -7.72 | 6.66 | -7.54 | 1.29 | 3.22 | {N/A} |
| Ind Ret | -2.55 | -3.71 | -5.51 | 11.95 | -3.88 | 5.45 | 3.27 | {N/A} |
Performance Data
This chart shows you the fundīs annual performance and how an investment would have changed over time.
Current Value of a $10,000 Investment
Asset Class as at June 30, 2010
Equity Sectors as at June 30, 2010
Geographic Composition as at June 30, 2010
Fund Advisor Profile
Tetrem Capital Management is an independent investment management firm based in Winnipeg and led by Daniel Bubis and his associates. The Tetrem team has worked together for many years and achieved strong long-term results using a disciplined value approach that combines quantitative models with fundamental analysis. The firm manages about $5 billion on behalf of CI Investments and other clients.Commentary
As at June 30, 2010
Despite a strong earnings season in April and May, a spate of negative headlines caused global equity markets to fall during the quarter. European politicians and bankers grappled with the Greek debt crisis, which they desperately want to contain. The Chinese economy, a standout over the past two years, is showing signs it may be slowing down. U.S. investors struggled with the uncertainty associated with regulatory change: as if the health care and financial sectors weren't enough, the spectre of new restrictions and costs for the energy sector - particularly as it relates to offshore drilling in the now-greasy Gulf of Mexico - have cast a pall on sentiment.
The fund posted negative results for the quarter, driven by relatively poor performance in our U.S. equity holdings, and stock selection within the Canadian financial sector. Our position in Power Corp. fell on concerns over its exposure to European debt and weak equity markets, both of which we see as manageable and temporary. On the positive side, two of the fund's holdings rose on the news of proposed corporate actions. Gerdau Ameristeel received a takeover offer from its Brazilian parent at a 53% premium: we sold the shares after they rose on the news. Magna International proposed a deal to buy back its multi-voting shares, which would eliminate Frank Stronach's control position. The shares were up as much as 23%, and ended the quarter up more than 11%. A vote on the controversial proposal has been delayed, but deal or no deal, we believe the company is well-positioned to benefit from a return to a normalized rate of auto production in North America, and we continue to hold the shares.
Markets await a catalyst, which could come in different forms: passage of the U.S. financial reform bill; stabilization in Europe's credit markets; a better-than-expected earnings season. Headlines are negative, but there are bullish counterarguments. Corporations have cut their costs, shored up their balance sheets, and should continue to generate strong free cash flow thanks to operating leverage. On top of this, low bond yields support continued economic expansion by making equities seem attractive in comparison.
Source: CTVglobemedia Publishing Inc.
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 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 securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.