TORONTO, February 27, 2025--(BUSINESS WIRE)--CI Global Asset Management ("CI GAM") today launched CI Performance Series – a ground-breaking new investment solution that emphasizes paying only for outperformance.
Instead of a fixed management fee, CI Performance Series charges a performance fee, which will be paid only when an investment pool outperforms its reference benchmark. CI Performance Series consists of new series for seven existing CI Private Pools, which are available for purchase starting today.
"We believe in the benefits of active management and have strong confidence in the skills and capabilities of our investment professionals," said Marc-André Lewis, President and Chief Investment Officer of CI GAM. "The CI Performance Series lineup, with its performance-based fee structure, is unique in the Canadian investment industry today and presents a compelling option for investors."
Mr. Lewis noted that the CI GAM team’s expertise was evident at the 2024 LSEG Lipper Fund Awards, where, for the second year in a row, CI GAM earned more individual Lipper Fund Awards than any other company in the Canadian investment fund industry. CI GAM also received 34 FundGrade A+® Awards for 2024, which recognize the "best of the best" in Canadian investment funds.
CI Performance Series is available on a diverse selection of seven CI Private Pools, which are "pure play" mandates focused on Canadian, U.S., global, international, small-cap and infrastructure equity, as well as high-yield credit.
"In modernizing our product lineup in recent years, we have developed one of the industry’s most robust selections of investment mandates, structures and purchase options, all designed to support advisors and assist their clients in reaching their financial objectives," said Jennifer Sinopoli, Executive Vice-President and Head of Distribution for CI GAM. "CI Performance Series is a highly innovative solution that exemplifies our client-focused approach. It is suitable for a wide range of investor portfolios and is a great alternative or complement to passive, market-based investments."
The performance fee will be calculated on a quarterly basis and will be 30% of the amount by which the total return of a pool’s Performance Series exceeds that of its reference benchmark. If the pool underperforms the reference benchmark, then no performance fee will be payable. Additionally, no performance fee will then be payable until the underperformance has been recovered.
CI GAM also intends to place an asset cap on the Performance Series Funds. Once the assets under management in the Performance Series of a pool reach a combined $1 billion, the Performance Series units of the pool will be closed to new investments.
CI Performance Series is available as Series AP and FP on the following CI Private Pools:
CI Canadian Equity Growth Private Pool (formerly CI Canadian Equity Private Pool)
CI Select Global Equity Private Pool (formerly CI Global Concentrated Equity Private Pool)
CI High Yield Bond Private Pool (formerly CI Global High Yield Credit Private Pool)
CI Global Infrastructure Private Pool
CI Global Small/Mid Cap Equity Private Pool (formerly CI Global Smaller Companies Private Pool)
CI International Equity Growth Private Pool
CI U.S. Equity Private Pool.
Series FP has a 0% management fee while Series AP has a management fee of up to 1.00% consisting solely of a trailing commission to be paid to the investor’s dealer. Both series have an administration fee of 0.15%.
There have been no changes to the CI Private Pools’ investment objectives, strategies or risk ratings as a result of the launch of CI Performance Series.
About CI Global Asset Management
CI Global Asset Management ("CI GAM") 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 GAM is a subsidiary of CI Financial Corp. (TSX: CIX), an integrated global asset and wealth management company with approximately $532.7 billion in assets as at November 30, 2024.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated.
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.
The LSEG 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 LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is an objective, quantitative, 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 LSEG Lipper Fund Award. For more information, see lipperfundawards.com. Although LSEG Lipper makes reasonable efforts to ensure the accuracy and reliability of the data used to calculate the awards, their accuracy is not guaranteed.
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 Asset Management is a registered business name of CI Investments Inc.
