|Fund Codes||Class A|
|Managed By:||CI Investments Inc.|
|Advisors:||Black Creek Investment Management Inc.|
|Assets Under Management*:||N/A|
|Portfolio Manager:||Richard Jenkins|
|Asset Class:||Global Balanced|
|Inception Date:||January 2007|
|Min. Initial Investment:||$500|
|Min. PAC Investment:||$50|
|Management Expense Ratio:||2.59%|
|CI Signature Corporate Bond Cl I||31.89%|
|Accor Sa Adr||3.46%|
|Kunlun Energy Company Limited||3.21%|
|Galp Energia SGPS||3.05%|
|Archer Daniels Midland||3.03%|
Based on 3-year standard deviation relative to other funds in its category, from Globe Investor.
(Class A)Black Creek Global Balanced Fund (Class A units) *
The fundamental investment objective of Black Creek Global Balanced Fund is to seek the growth of long term total return by investing primarily in a balanced portfolio of equities, convertible and fixed income securities issued by governments, supra-national agencies or corporations anywhere in the world.
This chart shows you the fundīs annual performance and how an investment would have changed over time.
As at September 30, 2013
There appears to be a major shift occurring in regional asset allocation at this time. A little over three years ago, we found many new businesses at deeply undervalued prices in Europe. This was a consequence of the global financial crisis and its follow on effects to the European financial system. However, over the past 12 months this has changed in the European stock markets which have dramatically outperformed almost all of their global peers. As a consequence, and coupled with the downgraded growth prospects in Asia and South America, we have begun to find some interesting opportunities outside of Europe and Japan. We have also started to build a small cash position to take advantage of any opportunities which may arise.
During the third quarter, our global equity fund had favourable returns, resulting in year-to-date performance being slightly ahead of the markets. Positive contributors included Wienerberger, Dialog Semiconductor, Randstad, ElringKlinger and WuXi Pharmatech. During the quarter, we bought new positions in Accor SA, Christian Dior SA, and Haemonetics Corp., and sold the remaining holding in Invensys.
In our international equity fund, we also achieved favourable performance. Positive contributors included Basilea Pharmaceutical, ANTA Sports Products, Wienerberger, Dialog Semiconductor, Randstad and WuXi Pharmatech. During the quarter, we increased/initiated investments in Accor SA, Christian Dior SA, Pfeiffer Vacuum and Kunlun Energy. We added to the holdings of Grupo Televisa, Erste Bank, and Oracle while we reduced the positions in Makita, Randstad and Wienerberger.
On the economic front, the U.S. continues its slow recovery. There is light at the end of the tunnel for Europe, where most countries have already reached the bottom. China continues to slowly redirect its economy towards domestic consumption. Other emerging markets are slowing and are still quite dependent on China
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.
* Formerly Castlerock Global Balanced Fund (Series A)
|Funds mentioned at this website are available only to Canadian residents.||
© 2013 CI Financial Corp.