CI Investments announces portfolio management changes for the Cambridge funds

TSX Symbol: CIX

TORONTO, July 30, 2015 /CNW/ - CI Investments Inc. ("CI") today announced new portfolio management assignments at Cambridge Global Asset Management to reflect the changing responsibilities within the team. The changes were effective July 29.

Co-Chief Investment Officer Brandon Snow has been added as Portfolio Manager of Cambridge Global Equity Corporate Class, joining Lead Portfolio Manager and Co-Chief Investment Officer Alan Radlo on the fund. As co-manager, Mr. Snow will direct the continued enhancement of the team's global research coverage. Mr. Snow is also Lead Portfolio Manager of Cambridge Canadian Equity Corporate Class and Cambridge Asset Allocation Corporate Class.

Stephen Groff, CFA, has been named Lead Portfolio Manager of Cambridge Canadian Dividend Fund, Cambridge Global Dividend Fund, and Cambridge Global Dividend Corporate Class. The change consolidates responsibility for Cambridge's dividend mandates with Mr. Groff, who is also Lead Portfolio Manager of Cambridge U.S. Dividend Fund, Cambridge U.S. Dividend Registered Fund, Cambridge U.S. Dividend US$ Fund, Cambridge American Equity Fund and Cambridge American Equity Corporate Class.

Gregory Dean, CFA, has been named Lead Portfolio Manager of Cambridge Canadian Growth Companies Fund. He is also Lead Portfolio Manager of Cambridge Growth Companies Corporate Class, which has a global mandate, and Co-Lead Portfolio Manager of Cambridge Pure Canadian Equity Fund, with Mr. Groff. With the change, Mr. Dean has the primary role in managing Cambridge's growth-oriented equity funds.

"Having built out the Cambridge lineup of mandates and grown our team of analysts, the next step was to streamline portfolio management responsibilities," said Mr. Snow. "These changes recognize Greg's focus on our suite of growth funds and Steve's responsibility for our lineup of dividend equity funds. And as co-manager of our global equity fund, I am working with our analysts to continue to expand our research coverage globally, in our search for investments that fit with the Cambridge approach and philosophy."

Chief Market Strategist Robert Swanson, CFA, continues to focus on the Cambridge income mandates and on providing guidance on macro-economic trends and market and asset allocation strategies to the team. He is Lead Portfolio Manager of Cambridge High Income Fund and co-manager of Cambridge Asset Allocation Corporate Class.

Cambridge was founded in 2008 with three funds under the leadership of Mr. Radlo. In 2011, CI expanded the team with the addition of Mr. Swanson, Mr. Snow, Mr. Dean, and Mr. Groff. Today, the team manages over $15 billion, oversees a diverse lineup of funds and operates from offices in Boston and Toronto.

Cambridge's success has been driven by its strong performance, which has been recognized through various industry awards. These include Lipper Fund Awards for 2014 for Cambridge Pure Canadian Equity Fund, Cambridge Canadian Growth Companies Fund and Cambridge Asset Allocation Corporate Class.* In addition, Mr. Snow was selected one of the top 10 TopGun Investment Minds in the 2014 Brendan Wood International Canadian investment rankings, while Mr. Dean has achieved TopGun status from 2012 to 2014.

In other changes announced today, Cambridge Canadian Asset Allocation Corporate Class has been renamed Cambridge Asset Allocation Corporate Class, to reflect the flexibility of the fund's mandate, which allows for foreign content of as much as 49%.

Cambridge Global Asset Management is a business name of CI used in connection with its subsidiary, CI Global Investments Inc. Certain portfolio managers of Cambridge are registered with CI Investments Inc.

The portfolio management changes noted above and other changes concerning Cambridge are summarized in the following table:

Fund Name	Portfolio advisors prior to change	Portfolio advisors after change
Cambridge American Equity Fund	CI Global Investments Inc. and CI Investments Inc.	CI Investments Inc.
Cambridge American Equity Corporate Class	CI Global Investments Inc. and CI Investments Inc.	CI Investments Inc.
Cambridge Canadian Dividend Fund	CI Global Investments Inc. and CI Investments Inc.	CI Investments Inc.
Cambridge Global Dividend Fund	CI Global Investments Inc.	CI Investments Inc.
Cambridge Global Dividend Corporate Class	CI Global Investments Inc.	CI Investments Inc.
Cambridge Global Equity Corporate Class	CI Global Investments Inc.	CI Investments Inc. and CI Global Investments Inc.
Cambridge U.S. Dividend Fund	CI Global Investments Inc. and CI Investments Inc.	CI Investments Inc.
Cambridge U.S. Dividend Registered Fund	CI Global Investments Inc. and CI Investments Inc.	CI Investments Inc.
Cambridge U.S. Dividend US$ Fund	CI Global Investments Inc. and CI Investments Inc.	CI Investments Inc.
A portion of Select Canadian Equity Managed Corporate Class	CI Investments Inc., QV Investors Inc., Tetrem Capital Management Ltd.	CI Investments Inc., CI Global Investments Inc., QV Investors Inc. and Tetrem Capital Management Ltd.
Canadian Equity Growth Pool	CI Investments Inc. and CI Global Investments Inc.	CI Investments Inc.
Canadian Equity Growth Corporate Class	CI Investments Inc. and CI Global Investments Inc.	CI Investments Inc.

About CI – 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 $140 billion in assets as of June 30, 2015.

* The Lipper Fund Awards, granted annually, are part of the Thomson Reuters Awards for Excellence awarded by Lipper, Inc. 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 Pure Canadian Equity Fund (Class A) was the winner in the Canadian small/mid-cap equity category for the three-year period ending July 31, 2014 out of a total of 53 funds. Performance for the fund for the period ended June 30, 2015 was 2.7% (1 year), 28.8% (3 years) and 22.4% (since inception on Feb. 15, 2011). The corresponding Lipper Leader ratings of the fund for the same period were: N/A (1 year), 5 (3 years). Cambridge Canadian Growth Companies Fund was the winner in the Canadian focused small/mid-cap equity category for the three-year period ending July 31, 2014 out of a total of 22 funds. Performance for the fund for the period ended June 30, 2015 was 3.0% (1 year), 25.4% (3 years) and 22.5% (since inception on Feb. 15, 2011). The corresponding Lipper Leader ratings of the fund for the same period were: N/A (1 year), 5 (3 years). Cambridge Asset Allocation Corporate Class (Class A) was the winner in the mixed assets (tactical balanced) category for the five-year period ending July 31, 2014 out of a total of 20 funds. Performance for the fund for the period ended June 30, 2015 was 6.9% (1 year), 11.8% (3 years), 10.4% (5 years) and 6.1% (since inception on Dec. 31, 2007). The corresponding Lipper Leader ratings of the fund for the same period were: N/A (1 year), 5 (3 years), and 5 (5 years).

SOURCE CI Financial Corp.

Murray Oxby, Director, Communications, CI Investments, [phone], [email protected]