TORONTO, June 16, 2020 /CNW/ - CI Investments Inc. ("CI") today launched CI Global Longevity Economy Fund, the industry's first strategy to focus on companies benefiting from changes in consumer behaviour, technology and health care resulting from the trend towards longer, healthier lifespans. This mandate offers both mutual fund series and an exchange-traded fund ("ETF") series. The ETF series has closed its initial offering and commenced trading today on the Toronto Stock Exchange under the symbol LONG.
CI actively manages the fund using insights and research from Dr. Joseph Coughlin, a global expert on demographic change, Founder and Director of the Massachusetts Institute of Technology AgeLab, and author of The Longevity Economy: Unlocking the World's Fastest-Growing, Most Misunderstood Market.
"Given the broader trends and demographic shifts occurring around the world, we are providing investors with the opportunity to invest directly in companies that are poised to thrive in the longevity economy," said Kurt MacAlpine, Chief Executive Officer of CI Financial Corp., parent company of CI.
"Those over 50 not only account for a growing share of the population, but they have better health, more active lifestyles, greater wealth, and diverse demands. The CI Global Longevity Economy strategy exploits the trends and changes driven by this historically unique cohort of consumers."
Potential investment themes include: medical innovations; technologies that allow for aging in place; and the "silver lifestyle" – products and services that accommodate a more active retirement. Holdings will be selected based on their positive exposure to the longevity economy theme in combination with in-depth fundamental analysis.
"The advantages of an active approach include the ability to focus on the highest-quality companies within the longevity theme, along with the flexibility to quickly respond to unexpected events, such as the COVID-19 pandemic," Mr. MacAlpine said. "Additionally, CI has deep expertise in global health care and other sectors relevant to the longevity economy."
Lead Portfolio Manager is Dr. Jeff Elliott, Vice-President, Portfolio Management with Signature Global Asset Management, a division of CI. Dr. Elliott, who brings 17 years of experience as a specialist in health care investing to the role, will be supported by Signature's large team of equity sector specialists and global strategists. He holds a Bachelor of Science (Honours) degree in biochemistry, a PhD in molecular biology and biochemistry, an MBA and the CFA designation. His career includes seven years as a portfolio manager at Signature focused on the health care sector, three years at an asset manager specializing in health care, and seven years as a health care equity analyst for UBS Securities in New York and Toronto.
The fund's investment approach includes insights from Dr. Coughlin, who researches the impact of global demographic change and technology trends on consumer behaviour and business strategy, and is recognized as a leading global expert, advisor and speaker on this topic. CI Financial partnered with Dr. Coughlin in December 2019 to educate advisors and investors on retirement issues and to incorporate his expertise into longevity planning strategies and new investment solutions. CI Global Longevity Economy Fund is a result of this collaboration.
The Coughlin partnership and the new fund reflect CI Financial's strategic priorities of modernizing its asset management business and expanding its wealth management platform.
CI Global Longevity Economy Fund is offered in mutual fund units in Series A, Series F, Series I and Series P, and in ETF C$ Series. Further information is available at ci.com.
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 $172 billion in fee-earning assets as of May 31, 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 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
CI Investments and the CI Investments design are registered trademarks of CI Investments Inc. ©CI Investments Inc. 2020. All rights reserved.
SOURCE CI Investments Inc.
Murray Oxby, Vice-President, Communications, CI Investments Inc., 416-681-3254, [email protected]
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