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Fund Facts
as at May 31, 2013
| Fund Codes | Class A | Corporate Class |
| ISC | CIG2810 | CIG2311 |
| DSC | CIG3810 | CIG3311 |
| LSC | CIG1610 | CIG1311 |
| Managed By: | CI Investments Inc. |
| Advisors: | Epoch Investment Partners, Inc. |
| Assets Under Management*: | $269.6 million |
| Portfolio Manager: | William Priest |
| Asset Class: | Global Equity |
| Inception Date: | February 2006 |
| NAV: | $7.07 |
| Min. Initial Investment: | $500 |
| Subsequent Purchase(s): | $50 |
| Min. PAC Investment: | $50 |
| Management Expense Ratio: | 2.54% |
Top Holdings
as at May 31, 2013
| BCE Inc. | 1.82% |
| Vodafone Group PLC | 1.76% |
| Daimler Ag | 1.73% |
| GlaxoSmithKline PLC | 1.67% |
| National Grid PLC | 1.65% |
| Imperial Tobacco Group PLC | 1.65% |
| PPL Corp. | 1.63% |
| Lockheed Martin | 1.61% |
| Royal Dutch Shell PLC | 1.61% |
| Swisscom Ag Adr | 1.60% |
| Total | 16.73% |
Volatility Meter
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Based on 3-year standard deviation relative to other funds in its category, from Globe Investor. |
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Equity Style and Capitalization Overview
| Blend | Growth | Value | |
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| Small |
(Class A)
CI Global High Dividend Advantage Fund (Class A units) *Also available: Class F & I
Objective
This fund's objective is to achieve tax-efficient returns through exposure primarily to dividend-paying common and preferred shares, debentures, income trusts, equity-related securities and convertible securities of issuers anywhere in the world that are expected to generate a consistently high level of dividends and interest income. The fund may achieve such exposure through the use of derivatives and investments in other mutual funds. Any change to the investment objective must be approved by a majority of the votes cast by shareholders at a meeting called to consider the change.
Compound Returns and Quartile Rankings
as at May 31, 2013
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 | 1 | 4 | 1 | 3 | 1 | 1 | {N/A} | {N/A} |
| Return | 14.06 | -0.21 | 6.39 | 21.71 | 13.8 | 3.17 | {N/A} | 2.58 |
| Grp Avg | 11.98 | 2.15 | 4.87 | 22.6 | 9.42 | 0.7 | 4.12 | {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 May 31, 2013
Equity Sectors as at May 31, 2013
Geographic Composition as at May 31, 2013
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, 2013
Stocks advanced sharply amid improved economic news in the U.S., shrugging off concerns about the potential for tighter monetary and fiscal policies. Losses imposed on Cypriot bank deposits, which investors feared could set a precedent for the euro zone, caused markets to pause only briefly. Corporate revenues were better than expected, although that was tempered in many cases by cautious guidance.
Equity markets have provided substantial price gains over the past 18 months, largely because of expanding valuation multiples engendered by quantitative easing. But now that central banks have tested the limits of monetary accommodation, we do not expect stocks in some markets to have expanding valuations as a tailwind for much longer.
If rising valuations lose steam as a source of return (they have been a wash over the long term), future gains will have to come from fundamental improvements in the ability of companies to grow their free cash flow. That may be difficult for some in the current environment, where global economic growth is lackluster. Most developed markets outside the U.S. remain mired in recession. Government debt will be a drag on growth for some time, as will the austerity measures designed to rein it in. We anticipate that equity markets will average only mid-single-digit returns for as long as this environment persists.
Despite this, some companies have proven they can grow free cash flow and allocate it effectively, and we believe they will provide attractive returns. Companies with cash will use it to create value by reinvesting in the growth of their business, making accretive acquisitions or returning it to shareholders through dividends, stock buybacks or deleveraging.
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.
* In light of the recent federal budget announcement, this fund is currently closed to new purchases as of April 15, 2013.