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Fund Facts
as at July 31, 2010
| Fund Codes | Class A | |
| ISC | CIG2301 | |
| DSC | CIG3301 | |
| LSC | CIG1301 |
| Managed By: | CI Investments Inc. |
| Advisors: | Legg Mason Capital Management |
| Assets Under Management: | $247.6 million |
| Portfolio Manager: | Bill Miller, CFA |
| Asset Class: | American Equity |
| Inception Date: | December 2001 |
| NAV: | $5.96 |
| Min. Initial Investment: | $500 |
| Subsequent Purchase(s): | $50 |
| Min. PAC Investment: | $50 |
| Management Expense Ratio: | 2.63% |
Top Holdings
as at August 31, 2010
| AES Corp. | 7.02% |
| Aflac | 3.80% |
| IBM | 3.64% |
| eBay | 3.44% |
| Transocean Inc. | 3.37% |
| Genzyme | 3.35% |
| Amazon.com | 3.10% |
| Texas Instruments | 3.10% |
| Time Warner Inc. | 3.10% |
| Capital One Financial | 3.05% |
| Total | 36.97% |
Volatility Meter
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Based on 3-year standard deviation relative to other funds in its category, from Globe HySales. |
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Equity Style and Capitalization Overview
| Blend | Growth | Value | |
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| Small |
(Class A)
CI Value Trust Corporate ClassAlso available: Class F, I & T
Objective
This fund's objective is to obtain long-term capital growth. It invests primarily in equity and equity-related securities of companies in the United States. Any change to the investment objective must be approved by a majority of votes cast at a meeting of unitholders held for that reason.
Compound Returns and Quartile Rankings
as at July 31, 2010
This table shows the historical annual compound total return of the fund compared with the Globefund Group Average and Globefund's benchmark S&P 500 Composite Total Return Idx($Cdn). 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 | 4 | 2 | 4 | 4 | 4 | 4 | {N/A} | {N/A} |
| Return | -7.17 | 3.83 | -8.59 | 1.19 | -19.58 | -13.69 | {N/A} | -5.85 |
| Grp Avg | -3.19 | 4.03 | -6.91 | 6.91 | -10.29 | -5.56 | -5.12 | {N/A} |
| Ind Ret | -1.79 | 3.82 | -5.09 | 8.56 | -7.86 | -3.61 | -4.35 | {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 August 31, 2010
Equity Sectors as at August 31, 2010
Geographic Composition as at August 31, 2010
Fund Advisor Profile
Legg Mason Capital Management, under the leadership of Bill Miller, provides investment advisory services for over $60 billion US in mutual fund and other investment accounts. It is a subsidiary of Legg Mason, Inc. of Baltimore, a financial services holding company.Commentary
As at June 30, 2010
The market downdraft which began in April and turned nasty in May and June has shaken investors' confidence. It has also rekindled fears that the insanely volatile market of late 2008 and early 2009, which investors had hoped was a thing of the past, may have returned, and with it, the prospect of further declines, possibly to new lows, in the equity market. Obviously, we cannot know for certain what the future holds, but we strongly believe that further material weakness in the equity markets is unlikely. We think the market is, in fact, in the process of stabilizing at current levels, and will resume its advance, although gains from the present level could come more haltingly, with volatility likely remaining elevated. We continue to see worthwhile gains ahead for the remainder of 2010 and into 2011.
Despite the recent unwelcome spike in volatility, one thing which gives us considerable confidence that we are not seeing a replay of 2008 is the behaviour of credit spreads. Credit markets led equity markets lower in 2008. Whenever it looked like the equity market might be trying to stabilize, the clear message from the continued widening of credit spreads was that there was more pain to come. In contrast to 2008, U.S. credit markets this year have reacted relatively calmly to the euro zone sovereign debt crisis thus far.
In the portfolio, Sprint Nextel was a positive contributor as was DirecTV. Holdings detracting from portfolio performance included: Sears Holdings, AES Corporation and Cisco.
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.