|Fund Codes||Class A||Corporate Class|
|Managed By:||CI Investments Inc.|
|Advisors:||Tetrem Capital Management Ltd.|
|Assets Under Management*:||$938.0 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||4.48%|
|Bank of Nova Scotia||2.83%|
|Canadian Natural Resources||2.36%|
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 September 30, 2013
Led by strong performance in the financials and energy sectors, the S&P/TSX reversed its negative trend this quarter, posting an impressive gain of 6.25%. The Canadian banks reported robust earnings, quelling investor fears of a housing downturn and were characterized by lower credit losses.
In our Canadian equity portfolio, airline stocks, WestJet and Air Canada, continue to perform strongly. Good things continue to happen at Suncor, the portfolio's largest energy holding. The company is operating its massive oil sands assets more efficiently and, as expected, is returning cash to shareholders. The big news in the quarter was that Warren Buffett's Berkshire Hathaway has taken a stake in the stock, which was seen as a positive affirmation of both the company and the oil sands' outlook in general.
In or dividend portfolio, we believe that the rotation out of bonds and into equities is still in the very early stages and is likely to be a multi-year process, which has important implications for dividend investors. Within the dividend paying universe of stocks, we are finding better value among companies that can grow their dividend, as opposed to stocks that have a high yield, but limited growth. These companies are in diverse sectors, including financials, energy and consumer discretionary to name a few. Companies such as Teck Resources and Baytex Energy are two examples of economically-sensitive dividend growers that contributed positively to performance during the quarter.
We continue to have a constructive outlook for equities over our investment horizon of three to five years. We see good prospects for continued economic expansion in the key markets of the U.S. and China. This sets a positive backdrop for corporate earnings generally, and for global energy demand from Canadian producers.
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.||
© 2013 CI Financial Corp.