|Fund Codes||Class A||Corporate Class|
|Managed By:||CI Investments Inc.|
|Advisors:||Epoch Investment Partners, Inc.|
|Assets Under Management*:||$267.7 million|
|Portfolio Manager:||William Priest|
|Asset Class:||Global Equity|
|Inception Date:||February 2006|
|Min. Initial Investment:||$500|
|Min. PAC Investment:||$50|
|Management Expense Ratio:||2.57%|
|Vodafone Group PLC||1.96%|
|Altria Group Inc.||1.76%|
|National Grid PLC||1.75%|
|Deutsche Telekom AG||1.74%|
|Swisscom Ag Adr||1.71%|
|Terna - Rete Elettrica Naziona||1.69%|
Based on 3-year standard deviation relative to other funds in its category, from Globe Investor.
(Class A)CI Global High Dividend Advantage Fund (Class A units) *
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.
This chart shows you the fundīs annual performance and how an investment would have changed over time.
As at September 30, 2013
Stocks advanced, touching new highs in mid-September, helped by ongoing unconventional monetary policy in the U.S. and improving sentiment on economies in Europe and Asia. Changing perceptions on the timing and magnitude of a slowdown in asset purchases by the U.S. Federal Reserve held sway over financial markets. The shifting odds of U.S. military involvement in Syria and the potential for a congressional budget stalemate leading to a shutdown of the federal government contributed to market volatility.
After spooking markets in June, the Fed adjusted its "tapering" message, stating that a reduction in asset purchases would be dependent on the performance of the economy. The market's best days subsequently occurred after the release of weak economic data in hopes that tapering would be delayed. After weeks of speculation that a reduction in bond buying would be announced at its September meeting, the Fed surprised markets by continuing the program at current levels, citing ongoing concerns about the labour market and the recent jump in long-term interest rates.
The U.S., with its many structural advantages, remains on the clearest path to sustainable growth among the world's major economies in spite of its dysfunctional government. There are, however, a number of near-term impediments to further equity market gains. Corporate earnings growth has been muted and analyst estimates and company guidance has been coming down. The prospect of higher long-term interest rates, whether they come sooner or later, reduces the present value of financial assets and may limit the further expansion of valuation multiples.
The world is growing - slowly. We believe our approach of finding companies with sustainable advantages, growing cash flows, and sound capital allocation policies is suited for this environment.
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.
|Funds mentioned at this website are available only to Canadian residents.||
© 2013 CI Financial Corp.