|Fund Codes||Class A||Corporate Class|
|Managed By:||CI Investments Inc.|
|Advisors:||Tetrem Capital Management Ltd.|
|Assets Under Management*:||$998.9 million|
|Portfolio Manager:||Daniel Bubis, Aaron Clarke and Alec MacIsaac|
|Asset Class:||Canadian Equity|
|Inception Date:||July 2003|
|Min. Initial Investment:||$500|
|Min. PAC Investment:||$50|
|Management Expense Ratio:||2.37%|
|Royal Bank of Canada||4.26%|
|Bank of Nova Scotia||2.77%|
|Canadian Natural Resources||2.74%|
|Power Corp of Canada||1.89%|
Based on 3-year standard deviation relative to other funds in its category, from Globe Investor.
(Class A)CI Canadian Investment Corporate Class (Class A shares)
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.
This chart shows you the fundīs annual performance and how an investment would have changed over time.
As at December 31, 2013
The Canadian market finished the year strongly, rising 7.3% over the fourth quarter and contributing over half of the full year's 13.0% return. Eight of 10 industry sectors rose during the quarter.
Commodities had a mixed year. Natural gas prices rose 26% as storage volumes declined to normal levels. Gold stocks continued to be notable laggards, pressured by a weak bullion price and year-end tax-loss selling. Agricultural commodities, such as corn, were down due to pending oversupply from abundant crops.
Upward pressure on interest rates persisted. Yields on the 10-Year Government of Canada bond rose to 2.76% from 2.54% at the start of the quarter and from 1.79% at the start of 2013.
It was a good year for our portfolios, not because we made dramatic changes, but rather because we stuck with our convictions. Portfolio holdings that had previously lagged regained favour in 2013 as investor skepticism gave way to cautious optimism.
In our Canadian equity portfolio, companies as diverse as Air Canada, Thomson Reuters and Open Text contributed to the good performance. We are reminded that one of the necessary conditions for successful investing is patience. 2013 was a year in which seeds planted in recent years bore fruit.
In our Canadian dividend portfolio, dividend growers such as Johnson & Johnson, Mullen Group and Thomson Reuters contributed to the good performance. Of the portfolio's 30 holdings at year-end, 24 paid a higher dividend, and during the fourth quarter, four of these companies announced dividend increases averaging 6.9%.
Equities have a habit of discounting future economic events. If equity market performance is to be taken as a leading economic indicator (and it should) 2014 will be characterized by accelerating economic activity.
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.