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Mutual Funds

Fund Facts
as at August 31, 2014

Fund Codes Class A
ISC CIG11115
DSC CIG11165
LSC CIG11465

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
NAV:$13.76
Min. Initial Investment:$500
Subsequent Purchase(s):$50
Min. PAC Investment:$50
Management Expense Ratio:2.47%

Top Holdings
as at August 31, 2014

CI Signature Corporate Bond Cl I29.12%
eBay3.30%
FTI Consulting3.21%
Oracle Corp.3.07%
Erste Group Bank AG3.00%
Wienerberger AG2.99%
HeidelbergCement AG2.98%
Gerresheimer Glas Ag Ord2.98%
Kunlun Energy Company Limited2.97%
Galp Energia SGPS2.89%
Total56.51%

Volatility Meter

VOLATILITY METER: 8
Low High

Based on 3-year standard deviation relative to other funds in its category, from Globe Investor.

Equity Style and Capitalization Overview

Blend Growth Value
Large
Mid
Small

(Class A)

Black Creek Global Balanced Fund (Class A units) *
Also available: Class A, F, & I

Objective

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.


Compound Returns and Quartile Rankings
as at August 31, 2014

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 4 4 4 3 1 1 {N/A} {N/A}
Return 3.9 0.71 -1.53 16.85 15.32 9.96 {N/A} 5.58
Grp Avg 7.17 1.54 2.38 16.74 10.72 8.54 4.94 {N/A}
*January 31, 2007

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

Compare With CI Peer
Initial Investment Amount
Time Frame Start
End

Asset Class as at August 31, 2014

Equity Sectors as at August 31, 2014

Geographic Composition as at August 31, 2014


Fund Advisor Profile

Black Creek Investment Management is an independent investment management firm led by industry veterans Bill Kanko and Richard Jenkins. Together, these award-winning managers have over 50 years of combined investment experience. The Black Creek team builds concentrated portfolios of companies that represent their unique insights and proprietary ideas.

Commentary

As at March 31, 2014

While 2013 was a year of strong equity market gains, the first quarter of 2014 saw flat equity market performance across the board. Developed markets have significantly outperformed emerging markets, with the U.S. and Japan leading the way. European equities had strong gains as the area appeared to be emerging from recession. The Asia-Pacific region, ex-Japan, and Latin America lagged significantly.

The weakness of the Canadian dollar relative to the U.S. dollar, the Euro, Sterling and other currencies during the period added significantly to returns. We judge the relative values of currencies using purchasing power parities. On this basis, the Canadian dollar is still about 12% over-valued relative to the U.S. dollar and Japanese Yen, but in line with the Euro and Sterling.

Investor views of an improving global economy have tempered, and emerging market risks and the Russian conflict have garnered the headlines for investors. Markets are still being supported by very accommodative monetary policies on the part of central banks, with promises of more support to come.

Not much has changed in our views of the global economy. The U.S. continues to recover, Europe is on the mend, China and other emerging markets are slowing and Japan hobbles along. Given the strong performance of equities, we would suggest that prospective returns for equities over the next five to 10 years would be in the mid-to-high single digit percentage range. We should certainly not count on more double-digit percentage return years. Our preference at this point is still equities over long bonds and cash, but we remain vigilant.

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. 

© 2014 CI Financial Corp.