|
Fund Facts
as at June 30, 2010
| Fund Codes | Class A | |
| ISC | CIG2321 | |
| DSC | CIG3321 | |
| LSC | CIG1521 |
| Managed By: | CI Investments Inc. |
| Advisors: | Cambridge Advisors |
| Assets Under Management: | $328.7 million |
| Portfolio Manager: | Alan Radlo, MBA, BA |
| Asset Class: | Canadian Equity |
| Inception Date: | December 2007 |
| NAV: | $8.93 |
| Min. Initial Investment: | $500 |
| Subsequent Purchase(s): | $50 |
| Min. PAC Investment: | $50 |
| Management Expense Ratio: | 2.31% |
Top Holdings
as at June 30, 2010
| Canadian Natural Resources | 4.30% |
| Suncor Energy | 4.29% |
| TD Bank | 4.20% |
| Royal Bank of Canada | 3.86% |
| National Bank of Canada | 3.31% |
| Barrick Gold Corp. | 2.94% |
| Canadian National Railway | 2.78% |
| Cenovus Energy | 2.50% |
| Research In Motion | 2.39% |
| Computer Sciences | 2.20% |
| Total | 32.77% |
Volatility Meter
|
|
| Low | High |
|
Based on 3-year standard deviation relative to other funds in its category, from Globe HySales. |
|
Equity Style and Capitalization Overview
| Blend | Growth | Value | |
| Large | |||
| Mid | |||
| Small |
(Class A)
Cambridge Canadian Equity Corp ClassAlso available: Class F, W, I & T
Objective
This fund's objective is to achieve long-term capital growth by investing, directly or indirectly, primarily in equity securities of Canadian companies. 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 shareholders at a meeting called to consider the change.
Compound Returns and Quartile Rankings
as at June 30, 2010
This table shows the historical annual compound total return of the fund compared with the Globefund Group Average and Globefund's benchmark S&P/TSX Total Return. The returns listed below are percentages.
| YTD | 1Mo | 3Mo | 1Yr | 3Yr | 5Yr | 10Yr | Since Inception* | |
| Qrtl | 2 | 3 | 4 | 2 | {N/A} | {N/A} | {N/A} | {N/A} |
| Return | -5.2 | -4.39 | -9.25 | 7.21 | {N/A} | {N/A} | {N/A} | -4.29 |
| Grp Avg | -5.46 | -3.9 | -7.72 | 6.66 | -7.54 | 1.29 | 3.22 | {N/A} |
| Ind Ret | -2.55 | -3.71 | -5.51 | 11.95 | -3.88 | 5.45 | 3.27 | {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 June 30, 2010
Equity Sectors as at June 30, 2010
Geographic Composition as at June 30, 2010
Fund Advisor Profile
Cambridge Advisors is led by Alan Radlo, who has more than 25 years of investing experience and a successful track record of strong performance. Cambridge Advisors as a division of CI Investments, benefits from CI's financial strength, its administrative support and investments in technology that support Cambridge's research, portfolio management and trading operations. (Cambridge Advisors is the business name of CI Global Holdings Inc.)Commentary
As at June 30, 2010
Worries about European government deficits and sustainability of the U.S. economic recovery hurt global equity markets during the second quarter of 2010. Major stock markets suffered their biggest three-month loss since the 2008 credit crisis.
We retained our strategy of holding companies with strong balance sheets and good long-term growth prospects. Indeed, many of the holdings in the portfolio produced their best earnings statements ever. Yet, global worries, compounded by the impact of sudden price swings created by derivatives trading, perpetrated the dislocation between market fundamentals and prices that have existed for several years.
While the market's rebound in 2009 and into 2010 showed that fundamentals were again moving to the forefront of equity investing, losses in May and June suggested the dislocation had returned. In fact, it appeared to be more pronounced since there has been a healthy number of share repurchases, dividend increases and corporate takeovers this year. Those factors are a strong indication of share value, but unfortunately this exists against a backdrop of negative market sentiment.
In Cambridge Canadian Equity Corporate Class, we maintained our positions in energy stocks, such as Canadian Natural Resources and Suncor, and in transportation stocks Canadian National Railways, WestJet, Bombardier and trucking firm TransForce.The biggest contributors to performance to both Cambridge Canadian Equity and Cambridge Canadian Asset Allocation funds were Barrick Gold, Goldcorp and Macdonald Dettwiler, while Research In Motion and Royal Bank were the largest detractors.
In Cambridge Global Equity Fund, we reduced or exited several European bank holdings amid the European sovereign debt crisis, although we retained positions in British financials such as Schroders Investment Management and Standard Chartered Bank, and in healthy U.S. banks such as State Street and JP Morgan.
We expect solid second-quarter earnings from companies in Canada and the U.S., and that this strength will continue, based on strong balance sheets and earnings.
Source: CTVglobemedia Publishing 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.