|Fund Codes||Class A||Corporate Class|
|Managed By:||CI Investments Inc.|
|Advisors:||Signature Global Advisors
Chief Investment Officer Eric Bushell
|Assets Under Management*:||$367.1 million|
|Portfolio Manager:||Geof Marshall and Eric Bushell|
|Asset Class:||Global Balanced|
|Inception Date:||February 2007|
|Min. Initial Investment:||$500|
|Min. PAC Investment:||$50|
|Management Expense Ratio:||2.47%|
|The Howard Hughes Corp., 6.88%, October 1, 2021||1.74%|
|U.S. Treasury, 1.63%, November 15, 2022||0.96%|
|JP Morgan Chase & Co.||0.95%|
|MEG Energy Corp., 7.00%, March 31, 2024||0.87%|
Based on 3-year standard deviation relative to other funds in its category, from Globe Investor.
(Class A)Signature Global Income & Growth Fund (Class A units)
This fund's objective is to generate income and long term capital growth by investing, directly or indirectly, in a combination of equity and fixed income securities of companies located anywhere in the world. Indirect investments may include convertible securities, derivatives, equity-related securities and securities of other mutual funds. Any change to the investment objective must be approved by a majority of the votes cast by unitholders 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
The U.S. Federal Reserve's suggestion that it would scale back its economic stimulus program, made mid-way through the second quarter, dampened prices for yield-oriented securities throughout most of the third quarter. Investors concluding that the end of the ultra-low interest rate era was nigh, pushing bond yields up abruptly. Yield-oriented securities such as infrastructure, real estate investment trusts and utilities sold off sharply through the summer. Although the Fed ultimately did not change course as expected, yields softened only slightly into quarter-end.
Stock markets, by contrast, reacted better to the news that the Fed would not taper immediately, with the S&P 500 Index in the U.S. reaching a record high and other global bourses also gaining for the period. As a result, we began to see the start of the long-awaited "great rotation" from fixed-income and yield products to equities during the quarter.
Meanwhile, geopolitical tensions in the Middle East rose with the accusation of a Syrian chemical weapons attack and the prospect of a U.S.-led strike. When coupled with genuine production shortfalls from other OPEC producers, this led to a spike in oil prices and interest rates globally, both of which had a negative effect on consumer spending. Against this backdrop we continued to raise cash in our equity portfolios, a process we had started in the second quarter, expecting opportunities as these pressures cause further market disruptions.
The Fed will likely begin tapering its quantitative easing program in 2014, and the prospect of higher rates will continue to create headwinds for yield-oriented securities. Having said that, we expect rates to remain structurally low for a long time as governments and consumers continue to reduce debt, which means that higher-yielding investments will remain in demand.
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.