|Fund Codes||Class A||Corporate Class|
|Managed By:||CI Investments Inc.|
|Advisors:||Signature Global Advisors
Chief Investment Officer Eric Bushell
|Assets Under Management*:||$1,917.0 million|
|Portfolio Manager:||Geof Marshall, Joe D'Angelo and Ryan Fitzgerald|
|Asset Class:||Diversified Income|
|Inception Date:||November 2009|
|Min. Initial Investment:||$500|
|Min. PAC Investment:||$50|
|Management Expense Ratio:||2.34%|
|Apartment Invt & Mgmt Co.||2.61%|
|Abertis Infraestructuras SA||1.52%|
|Spirit Realty Capital||1.48%|
|Royal Dutch Shell PLC||1.36%|
|Retail Opportunity Investments||1.27%|
|Kraft Foods Group||1.17%|
|Aeroports de Paris (ADP)||1.16%|
Based on 3-year standard deviation relative to other funds in its category, from Globe Investor.
(Class A)Signature Diversified Yield Fund (Class A units) *
This fund's objective is to achieve tax-efficient returns through exposure to a portfolio of fixed income and high-yielding equity securities throughout the world. The fund will obtain this exposure primarily by entering into derivatives, but may hold fixed income and equity securities directly from time to time. Any change to the investment objective must be approved by a majority of votes cast at a meeting of unitholders held for that reason.
This chart shows you the fundīs annual performance and how an investment would have changed over time.
As at December 31, 2013
Perhaps the most surprising aspect of the global economy as we enter 2014 is that almost every region is on a clear cyclical upswing. We are in the midst of a synchronized global economic recovery. Economic growth is accelerating and we can comfortably expect that global growth will be stronger this year than in 2013. After five years of recurring crises following the collapse of Lehman Brothers, this improvement and stability are unambiguously positive. Indeed, for the first time in several years, there is no obvious crisis looming. Last year, it was the U.S. fiscal cliff and two years ago, it was the Eurozone debt crisis.
Equity markets had a stellar 2013, as liquidity trumped fundamentals, driving valuations higher on the back of modest earnings growth. We expect 2014 to see a return to fundamentals as the primary driver of returns. In such a scenario, equities should continue to outperform other asset classes with expected returns of 8% to 12% for the year. As rates rise, we also expect to see higher volatility compared to the past year, with a couple of significant market corrections in the range of 10%, providing opportunities to add value from a tactical perspective.
For currencies, we expect the divergence in economic growth, coupled with diverging monetary policies from key central banks, to support the U.S. dollar against most major currencies, including the Canadian dollar.
In summary, our global outlook for 2014 is decidedly sunnier than in recent years. However, we do expect that several squalls will emerge to roil markets and test investors over the course of the year. While the global economy remains somewhat fragile, it has and should continue to strengthen over the coming year.
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.||
© 2014 CI Financial Corp.