TORONTO, September 27, 2022--(BUSINESS WIRE)--CI Global Asset Management ("CI GAM") today launched three new investment options – two ESG-focused mandates offering both mutual fund and ETF series, and a commodity-focused liquid alternative ETF.
The new funds are:
CI Global Sustainable Infrastructure Fund, which is available in both mutual fund and ETF series, with the ETF series beginning trading today on the TSX under the symbols CGRN (ETF C$ Series) and CGRN.U (ETF US$ Hedged Series).
CI Global Green Bond Fund, which is available in both mutual fund and ETF series, with the ETF series beginning trading today on the TSX under the symbols CGRB (ETF C$ Series) and CGRB.U (ETF US$ Hedged Series).
CI Auspice Broad Commodity ETF, which begins trading today on the TSX under the symbol CCOM (Hedged Common Units).
"The new mandates are the latest steps in CI GAM’s ongoing initiative to modernize its investment fund lineup by introducing relevant and timely options that support investors’ interests and help them thrive in today’s challenging markets," said Geraldo Ferreira, Senior Vice-President and Head of Investment Products and Manager Oversight for CI GAM.
"Over the past 18 months, we have expanded our selection of funds and ETFs in categories that include ESG, liquid alternatives, private equity, covered call strategies, active and passive ETFs, digital assets and other emerging investment themes."
The launches of CI Global Sustainable Infrastructure Fund and CI Global Green Bond Fund broaden CI GAM’s selection of ESG-focused choices, which include CI Mosaic ESG ETF Portfolios, CI MSCI World ESG Impact Fund, CI MSCI World ESG Impact ETF, and CI Global Climate Leaders Fund.
CI Auspice Broad Commodity ETF is the eighth offering in CI GAM’s industry-leading lineup of liquid alternative funds and ETFs. These include four fixed-income and two equity mandates, as well as the CI Alternative Multi-Strategy Fund. CI GAM is the Canadian industry leader in liquid alternative funds, with approximately $3.5 billion in assets under management (as at August 31, 2022).
CI Global Sustainable Infrastructure Fund
CI Global Sustainable Infrastructure Fund’s investment objective is to provide income and long-term capital appreciation by investing primarily in companies with either direct or indirect exposure to sustainable infrastructure located anywhere in the world. It pays a monthly distribution and carries a low to medium risk rating.
"The fund is an opportunity for investors to benefit from the massive global transition to decarbonization, digitization and sustainability and to ensure their investment dollars are supporting the move to a greener planet," Mr. Ferreira said. "At the same time, it also offers the traditional benefits of infrastructure investing, including consistent income, diversification, and the potential for reduced volatility relative to other equity sectors."
The fund invests in companies in a diverse range of sectors and themes that may include: clean energy, such as wind, solar, hydropower and renewable fuels; alternative transportation with lower carbon intensity; improvements in packaging and wastewater management; and efficient data infrastructure.
The fund leverages the global sector expertise of the CI GAM investment team, with Kevin McSweeney serving as lead portfolio manager. Mr. McSweeney, who has over two decades of investing experience, is an infrastructure specialist who also manages CI Global Infrastructure Fund and other infrastructure-focused portfolios.
CI Global Green Bond Fund
CI Global Green Bond Fund’s investment objective is to provide long-term total return by focusing on sustainable and responsible issuers by primarily investing in labelled green bonds issued by government, government-related and corporate issuers, located anywhere in the world.
Green bonds are fixed-income securities in which the proceeds are applied to projects or activities that promote climate or other environmental sustainability purposes. To become a "labelled" green bond, issuers must apply for certification by a recognized third party.
"Green bonds allow investors to align their investment and retirement goals with their environmental values," Mr. Ferreira said. "The fund’s portfolio is also actively managed by the CI GAM fixed-income team to provide stability and income."
Lead Portfolio Manager James Dutkiewicz, Senior Vice-President and Head of Fixed Income for CI GAM, has 30 years’ experience in income investing and asset allocation.
CI Auspice Broad Commodity ETF ("CCOM")
CCOM seeks to replicate the performance of the Auspice Broad Commodity Excess Return Index (the "Index") by investing in financial instruments, including futures contracts and derivatives. The Index uses a quantitative methodology to track a diversified portfolio of commodity futures contracts, or components, across three sectors: agriculture, energy and metals.
The Index was developed by Auspice Capital Advisors Ltd. ("Auspice"), which has been appointed sub-advisor to CCOM. Auspice is a Calgary-based alternative asset manager that focuses on applying rules-based investment strategies across a broad range of financial and commodity markets.
"This ETF launch is especially timely, given that commodities are benefiting from supply constraints combined with heightened demand driven in part by infrastructure spending and the transition to a greener and more sustainable society," Mr. Ferreira said. "As a result, exposure to commodities holds the potential to add inflation protection to investors’ portfolios.
"CCOM provides exposure to a broad range of commodities across three sectors – energy, agriculture and metals – combined with a rules-based approach designed to participate in gains while minimizing volatility and drawdowns," Mr. Ferreira added.
"We are excited to partner with CI GAM in bringing the only broad commodity solution to the Canadian marketplace," said Tim Pickering, Auspice’s Chief Investment Officer and Founder. "The recent COVID-19 crisis and ensuing resurgence in inflation demonstrate the relevance of the strategies we manage. Auspice offers a disciplined rules-based approach that aims to help investors to take advantage of both opportunity and weather turbulent market events."
CCOM is classified as an alternative mutual fund and has a low to medium risk rating.
About Auspice Capital Advisors
Auspice is an innovative alternative asset manager that focuses on applying rules-based investment strategies across a broad range of commodity and financial markets. Auspice offers liquid alternative and commodity strategies that provide the benefits of active management and the efficiency of indexing. Auspice works with a wide range of clients and develops solutions to improve their portfolio or product suite. Auspice strategies are available directly to institutions, financial professionals and high-net-worth individual investors as well as retail investors through the Auspice brand along with sub-advisory and licensing arrangements. www.auspicecapital.com.
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 $345.9 billion in assets as of August 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.
MSCI is a trademark of MSCI Inc. The MSCI indexes have been licensed for use for certain purposes by CI Global Asset Management ("CI GAM") in connection with the CI ETFs (the "ETFs"). The ETF and the securities referred to herein are not sponsored, endorsed or promoted by MSCI Inc. or any of its affiliates (collectively, "MSCI") and MSCI bears no liability with respect to any such fund or securities or any index on which such fund or securities are based. The ETF’s prospectus contains a more detailed description of the limited relationship MSCI has with CI GAM and any related funds.
The CI Auspice Broad Commodity ETF is an alternative mutual fund. It has the ability to invest in asset classes or use investment strategies that are not permitted for conventional mutual funds. The specific strategies that differentiate this fund from conventional mutual funds include: increased use of derivatives for hedging and non-hedging purposes; increased ability to sell securities short; and the ability to borrow cash to use for investment purposes. While these strategies will be used in accordance with the fund’s investment objectives and strategies, during certain market conditions they may accelerate the pace at which your investment decreases in value.
The CI Auspice Broad Commodity ETF is not sponsored, endorsed, sold or promoted by Auspice and Auspice makes no representation regarding the advisability of investing in the CI Auspice Broad Commodity ETF.
This document is provided as a general source of information and should not be considered personal, legal, accounting, tax or investment advice, or construed as an endorsement or recommendation of any entity or security discussed. 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.
CI Global Asset Management is a registered business name of CI Investments Inc.
©CI Investments Inc. 2022. All rights reserved.
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Vice-President, Corporate Communications
CI Global Asset Management