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Mutual Funds

Fund Facts
as at July 31, 2014

Fund Codes Class A Corporate Class
ISC CIG7500 CIG510
DSC CIG7505 CIG511
LSC CIG1510 CIG1511

Managed By:CI Investments Inc.
Advisors:Epoch Investment Partners, Inc.
Assets Under Management*:N/A
Portfolio Manager:William Priest and David Pearl
Asset Class:American Equity
Inception Date:February 1977
NAV:$24.52
Min. Initial Investment:$500
Subsequent Purchase(s):$50
Min. PAC Investment:$50
Management Expense Ratio:2.45%

Top Holdings
as at July 31, 2014

Apple3.73%
Microsoft3.53%
Boeing Co.2.71%
Blackrock Inc.2.65%
Time Warner Inc.2.52%
Oracle Corp.2.42%
CVS Caremark2.16%
Danaher Corp.2.12%
Occidental Petroleum2.10%
Agilent Technologies Inc.2.10%
Total26.04%

Volatility Meter

VOLATILITY METER: 8
Low High

Based on 3-year standard deviation relative to other funds in its category, from Globe Investor.

Equity Style and Capitalization Overview

Blend Growth Value
Large
Mid
Small

(Class A)

CI American Value Fund (Class A units)
Also available: Class F & I

Objective

This fund’s objective is to achieve long-term capital growth by investing primarily in a broadly diversified portfolio of American equity securities.


Compound Returns and Quartile Rankings
as at July 31, 2014

This table shows the historical annual compound total return of the fund compared with the Globefund Group Average and the fund's quartile ranking within the Globefund Peer Group. The returns listed below are percentages. Performance of the fund versus its official benchmark can be found in the Management Report of Fund Performance (MRFP). See the related document section on this web page.
YTD 1Mo 3Mo 1Yr 3Yr 5Yr 10Yr Since Inception*
Qrtl 3 1 2 3 2 3 2 {N/A}
Return 5.15 1.11 2.77 19.79 17.25 12.86 5.44 10.13
Grp Avg 5.43 -0.22 2.37 20.15 17.02 13.85 4.06 {N/A}
*February 1, 1977

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

Compare With CI Peer
Initial Investment Amount
Time Frame Start
End

Asset Class as at July 31, 2014

Equity Sectors as at July 31, 2014

Geographic Composition as at July 31, 2014


Fund Advisor Profile

Epoch Investment Partners, Inc. employs a value-based, bottom-up approach to investing. New York-based Epoch manages over $12 billion in assets and is led by William Priest, who has more than 45 years of investment management experience.

Commentary

As at March 31, 2014

Equity markets recovered from a dip in late January, ending the period higher. Gains came despite meagre revenue growth and disappointing guidance, which investors shrugged off as weather related. Stocks also had to contend with a January lull in U.S. economic activity, further confirmation of slower economic growth in China and a geopolitical crisis in Ukraine. U.S. Treasury yields declined, with the yield on the 10-year bond dropping from 3.0% to 2.7%.

In the U.S., utilities and health care stocks had the best returns by far for the quarter. These were the only sectors with positive returns in January as investors adopted a more defensive stance but were wary of weak revenue growth in the consumer staples sector and competitive pricing pressures among telecommunications services companies. February saw a speculative rebound that favoured social media and biotech companies. The consumer discretionary sector tumbled over the quarter with a deceleration in consumer spending, even though consumer sentiment hit a six-year high. Energy stocks lagged as oil majors reported sagging production and oil service companies experienced weak pricing.

Globally, market results have been mixed so far in 2014, unlike the previous two years when quantitative easing led investors to assign higher multiples to stocks broadly across regions. The world's central banks are at different phases of their policy cycles, leaving equity valuations without the global valuation support they once enjoyed. If there is limited scope for multiples to expand, then companies will need to grow earnings to see further gains.

Despite the near-term volatility in market leadership we are still finding attractive investment ideas consistent with our free cash flow philosophy.

Source: The Globe and Mail 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. *Assets under management are as at the end of the most recent quarter ending March 31, June 30, September 30 or December 31.


Funds mentioned at this website are available only to Canadian residents. 

© 2014 CI Financial Corp.