CI Investments Inc. announced on Tuesday that it has appointed Daniel Bubis, president and chief investment officer of Tetrem Capital Partners Ltd., as lead portfolio manager of CI Canadian Investment Fund and CI Canadian Investment Corporate Class.

“Daniel Bubis is a well-known, top-ranked manager who meets the high expectations of CI Canadian Investment Fund’s investors,” said Peter W. Anderson, CEO of CI. “His long-term track record is exceptional and is one of the best in Canada.

“Furthermore, Danny and his team at Tetrem use a disciplined value approach to investing that is a perfect fit for the fund’s position as a leading Canadian value fund.”

Bubis is widely respected in the investment community for his success as portfolio manager of United Financial Corp.’s Canadian Equity Value Pool since March 1993. During his tenure, he has produced stellar results. Over the 10 years ending Aug. 31, the pool has achieved an average annual return of 17.2%, net of fees, placing it at the top of the Canadian equity fund category. Over the same period, the S&P/TSX Composite Index had an average annual return of 10.8%.

“We are thrilled with this opportunity to manage the largest and the oldest Canadian equity mutual fund in Canada,” said Bubis.

“Advisors and investors can feel comfortable with our philosophy and our approach. They have invested in CI Canadian Investment Fund because of its consistent returns and downside protection — and that’s what we have delivered to our investors over the past 13 years. We will be applying the same successful and proven value-oriented investment discipline to CI Canadian Investment Fund.”

Bubis has performed exceptionally well in both rising and declining markets. He has outperformed the Canadian equity market in five of the last six calendar years. His record of preserving investors’ capital during difficult periods, such as the bear market of 2000-2002, is even more impressive. In 2002, Canadian Equity Value Pool gained 8.2%, while the index lost 12.4%, and in 2001, the pool rose 14.8%, while the index fell 12.6%.

Winnipeg-based Tetrem is an independent firm founded by the in-house investment management team of United Financial (formerly Assante Asset Management Ltd.). Bubis was the chief investment officer, responsible for the oversight of United’s asset management operations, with $7 billion in assets, as well as the management of the Canadian Equity Value Pool. His team at Tetrem includes other members of his United team: portfolio manager Sam Pellettieri, investment analyst Murray Hanstead and trader/analyst Eileen Mueller. At Tetrem, the team has continued as portfolio managers of the Canadian Equity Value Pool and other United mandates. The firm also manages money for other institutional clients.

CI also said today that it expects to make a decision on the portfolio management of CI Canadian Small/Cap Fund and CI Canadian Asset Allocation Fund in the coming weeks.