CI Global Asset Management Launches CI Global Investment Grade Fund
TORONTO--(BUSINESS WIRE)--CI Global Asset Management (“CI GAM”) today launched CI Global Investment Grade Fund (“the Fund”), a new option for investors seeking regular income and the expertise of an award-winning investment team.
The Fund is a mutual fund trust version of CI Global Investment Grade Class, which holds an overall five-star rating from Morningstar and was the winner of two Refinitiv Lipper Fund Awards for 2022 and a FundGrade A+ Award for 2021*. CI GAM is also introducing today U.S. Dollar Hedged Series of CI Global Investment Grade Class.
These launches further expand CI GAM’s comprehensive selection of fixed-income mandates and investment options, following the previously announced launches earlier this month of CI Global Investment Grade ETF (TSX: CGIN, CGIN.U) and CI Global Bond Currency Neutral Fund.
“CI GAM offers a full suite of actively managed fixed-income solutions to meet a broad range of portfolio needs and investor risk profiles, managed by a deep, experienced team with expertise across global fixed-income sectors, currencies and derivatives,” said Roy Ratnavel, Executive Vice-President and Head of Distribution for CI GAM.
CI GAM is one of Canada’s largest fixed-income investment managers with approximately $26 billion under management in this asset class.
CI Global Investment Grade Fund’s investment objective is to generate income and the potential for long-term capital appreciation by investing primarily in a diversified portfolio of investment grade fixed-income securities issued by companies or governments of any size, located anywhere in the world. The portfolio managers also have the flexibility to invest a portion of the portfolio in other securities such as high-yield corporate bonds, preferred shares and emerging market debt.
About CI Global Asset Management
CI Global Asset Management is one of Canada’s largest investment management companies. It offers a wide range of investment products and services and is on the Web at www.ci.com. CI Global Asset Management is a subsidiary of CI Financial Corp. (TSX: CIX, NYSE: CIXX), an integrated global asset and wealth management company with approximately $364.3 billion in assets as of October 31, 2022.
Commissions, trailing commissions, management fees and expenses all may be associated with an investment in mutual funds and exchange-traded funds (ETFs). Please read the prospectus before investing. Important information about mutual funds and ETFs is contained in their respective prospectus. Mutual funds and ETFs are not guaranteed; their values change frequently, and past performance may not be repeated. You will usually pay brokerage fees to your dealer if you purchase or sell units of an ETF on recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, investors may pay more than the current net asset value when buying units of the ETF and may receive less than the current net asset value when selling them.
* © 2022 Morningstar Research, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. CI Global Investment Grade Class was rated against the following numbers of Global Fixed Income funds over the following time periods: 400 funds in the last three years, 287 funds in the last five years, and 99 funds in the last 10 years. Past performance is no guarantee of future results. Morningstar Rating is for the Series F securities only; other series may have different performance characteristics.
Morningstar Ratings reflect performance as of October 31, 2022 and are subject to change monthly. The ratings are calculated from a fund’s 3, 5 and 10-year returns measured against 91-day Treasury bill and peer group returns. For each time period the top 10% of the funds in a category get five stars. The Overall Rating is a weighted combination of the 3, 5 and 10-year ratings. For greater detail see www.morningstar.ca.
®™2022 Morningstar and the Morningstar Rating are registered trademarks of Morningstar Research Inc. All rights reserved.
CI Global Investment Grade Class received a FundGrade A+ Award for the year 2021 in the CIFSC global fixed income category. The FundGrade A+ Award for the fund was calculated from January 31, 2017 to December 31, 2021. The performance of CI Global Investment Grade Class Series A for the period ended December 31, 2021 is as follows: 1 year: 0.4%, 3-years: 7.0%, 5-years: 4.7%, and since inception, 4.0% (2016-07-04).
About the FundGrade A+® Awards Methodology
FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award. For more information, see www.FundGradeAwards.com. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.
CI Global Investment Grade Class (Series P) was awarded the 2022 Refinitiv Lipper Fund Awards in the global fixed-income category for 3 and 5 years ending July 31, 2022, out of a classification total of 65 funds (3 years) and 46 funds (5 years). Performance for the Fund for the period ended October 31, 2022 was -13.3% (1 year), -0.4% (3 years), 1.7% (5 years) and 2.1% (since inception; 2016-07-04).
The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award. For more information, see lipperfundawards.com. Although Refinitiv Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Refinitiv Lipper.
This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase mutual funds managed by CI Global Asset Management and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Every effort has been made to ensure that the material contained in this document is accurate at the time of publication. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor.
CI Global Asset Management is a registered business name of CI Investments Inc.
©CI Investments Inc. 2022. All rights reserved.
Vice-President, Corporate Communications
CI Global Asset Management