CI Investments funds win Lipper Fund Awards
TSX Symbol: CIX
TORONTO, Nov. 10, 2016 /CNW/ - CI Investments Inc. ("CI") announced today that its portfolio management teams have been honoured with two 2016 Thomson Reuters Lipper Fund Awards. The awards recognize funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers.
CI's winning funds are Cambridge Canadian Dividend Fund, managed by Cambridge Global Asset Management, and Portfolio Series Income Fund, managed by CI Multi-Asset Management. The 2016 Lipper Fund Awards for Canada were announced last night in Toronto.
Cambridge Canadian Dividend Fund was the winner in the Canadian dividend and income equity category over three years. The lead portfolio manager of the fund is Stephen Groff. Cambridge, a division of CI with offices in Toronto and Boston, manages over $18 billion across several Canadian and global equity, income and balanced portfolios. The Cambridge team has earned seven Lipper Fund Awards since 2012.
"We are pleased to see the Cambridge team receive continued recognition for delivering excellent risk-adjusted results to investors," said Neal Kerr, Executive Vice-President, Investment Management, at CI Investments. "The team's strong performance across its lineup reflects an approach that emphasizes active management and downside protection, resulting in differentiated portfolios with high active share."
Mr. Groff was also named co-winner of the Morningstar Award for Breakout Fund Manager of the Year in 2015, along with Cambridge Portfolio Manager Greg Dean.
Portfolio Series Income Fund was the Lipper Fund Award winner in the global fixed income balanced category over 10 years. The fund, which is part of CI's award-winning Portfolio Series program, is managed by CI Multi-Asset Management, an in-house team of asset allocation experts led by Portfolio Manager Alfred Lam.
"CI Multi-Asset Management is a highly skilled and experienced portfolio management team responsible for the asset allocation, currency strategies and risk management of our managed solutions," Mr. Kerr said. "The recognition accorded to Portfolio Series Income Fund is a testament to the success of the team's active, multi-asset-class approach."
Overall, CI funds have been the recipients of 57 Lipper Fund Awards since the start of the program in Canada in 2007. The Lipper Fund Awards are part of the Thomson Reuters Awards for Excellence, a global family of awards that celebrates exceptional performance throughout the professional investment community.
About CI Investments – Canada's Investment Company
CI Investments Inc. is one of Canada's largest investment management companies. CI offers a broad range of investment products and services, and is on the Web at www.ci.com. CI is a subsidiary of CI Financial Corp. (TSX: CIX), an independent, Canadian-owned wealth management firm with $149.4 billion in assets as of October 31, 2016.
The Lipper Fund Awards, granted annually, are part of the Thomson Reuters Awards for Excellence and highlight funds that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Lipper Fund Awards are based on the Lipper Ratings for Consistent Return, which is a risk-adjusted performance measure calculated over 36, 60 and 120 month periods. The highest 20% of funds in each category are named Lipper Leaders for Consistent Return and receive a score of 5, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2 and the lowest 20% are scored 1. The highest Lipper Leader for Consistent Return in each category wins the Lipper Fund Award. Lipper Leader ratings change monthly. For more information, see www.lipperweb.com. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. Cambridge Canadian Dividend Fund (Class D) was named Best Canadian Dividend and Equity Income Fund over three years ending July 31, 2016, out of a category total of 78 funds. Performance for the fund for the period ended October 31, 2016 was 9.4% (1 year), 13.0% (3 years), 11.1% (5 years) and 6.5% (10 years). The corresponding Lipper Leader ratings of the fund for the same period were: N/A (1 year), 5 (3 years), 5 (5 years) and 4 (10 years). Portfolio Series Income Fund (Class A) was named Best Global Fixed Income Balanced Fund for the 10-year period ending July 31, 2016, out of a category total of 11 funds. Performance for the fund for the period ended October 31, 2016 was 4.6% (1 year), 5.8% (3 years), 6.4% (5 years) and 5.0% (10 years). The corresponding Lipper Leader ratings of the fund for the same period were: N/A (1 year), 3 (3 years), 3 (5 years) and 4 (10 years).
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SOURCE CI Financial Corp.