CI Investments expands lineup of liquid alternative mandates with launch of CI Marret Alternative Enhanced Yield mutual fund and ETF
TORONTO, May 19, 2020 /CNW/ - CI Investments Inc. ("CI") today announced the launch of the fourth entry in its successful lineup of liquid alternative funds – CI Marret Alternative Enhanced Yield Fund, an income mandate designed to provide an attractive yield while protecting capital.
The fund is available in both mutual fund and exchange-traded fund series, with the ETF series having closed its initial offering and commencing trading today on the Toronto Stock Exchange. As a liquid alternative mandate, CI Marret Alternative Enhanced Yield has access to non-traditional investment strategies with the potential for enhancing diversification, returns and risk management.
"We launched CI Liquid Alternatives™ with three mandates in November 2018 and our assets under management in these products has grown to over $1.6 billion*, demonstrating investors' interest in alternative investment strategies," said Roy Ratnavel, CI Executive Vice-President and Head of Distribution.
"Recent market disruptions have highlighted the value of these strategies. The new Marret fund is especially timely, with its emphasis on generating stable income no matter what happens in the broad equity and income markets."
The ETF C$ Series units and ETF US$ Hedged Series units of CI Marret Alternative Enhanced Yield Fund are trading under the tickers CMEY and CMEY.U, respectively. Mutual fund units are also available in both Canadian dollar and U.S. dollar hedged versions.
The portfolio is managed by Marret Asset Management Inc. ("Marret"), which is majority owned by CI Financial Corp. and an affiliate of CI. Marret is a Toronto-based investment firm that specializes in fixed income with a focus on corporate credit strategies. Marret is led by President and Chief Executive Officer Paul Sandhu, who has over 30 years of Canadian and global fixed-income experience. Mr. Sandhu's co-managers on the new fund are Adam Tuer, Vice-President, Portfolio Manager and Head of Research, and Adrian Prenc, Vice-President, Portfolio Manager and Chief Risk Officer.
Marret has extensive experience in managing income-focused alternative strategies, including Marret Enhanced Tactical Fixed Income Fund, and CI Marret Alternative Absolute Return Bond Fund and ETF.
The investment objective of CI Marret Alternative Enhanced Yield Fund is to provide income with low volatility over a market cycle regardless of market conditions or general market direction, while targeting low correlation to equity and traditional income.
CI continues to expand its lineup of alternative investments as part of its strategic priority of modernizing its asset management business. CI recently announced a strategic partnership with Adams Street Partners, LLC, a global leader in private markets investment management, to develop investment solutions exclusively for CI that will provide Canadian investors access to private equity and private credit investments in markets around the world.
Liquid Alternatives are mutual funds or ETFs that incorporate certain hedge-fund investment strategies such as short-selling, leverage and derivatives. "Liquid" indicates that the investment vehicle itself can be bought and sold on a daily basis, while "alternative" relates to non-traditional investment strategies.
CI's other liquid alternative funds are:
- CI Munro Alternative Global Growth Fund and CI Munro Alternative Global Growth ETF
- CI Marret Alternative Absolute Return Bond Fund and CI Marret Alternative Absolute Return Bond ETF
- CI Lawrence Park Alternative Investment Grade Credit Fund and CI Lawrence Park Alternative Investment Grade Credit ETF.
For more information, please visit the CI Liquid Alternatives website.
About CI Investments
CI Investments 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 is a subsidiary of CI Financial Corp. (TSX: CIX), an independent company offering global asset management and wealth management advisory services with $166.3 billion in fee-earning assets as of April 30, 2020.
About Marret Asset Management Inc.
Marret Asset Management is a partly owned subsidiary of CI Financial Corp. and an affiliate of CI Investments. It focuses on fixed-income investing and alternative strategies on behalf of institutional, high net worth and retail clients.
* As of May 14, 2020.
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 its 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 the TSX. If the units are purchased or sold on the TSX, 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.
SOURCE Marret Asset Management Inc.
Murray Oxby, Vice-President, Communications, CI Investments Inc., 416-681-3254, [email protected]
Share this article