(July 12 – 12:30 ET) – C.I. Mutual Funds Inc. today announced portfolio management changes affecting 17 funds and investment pools.
In the first series of changes, Trident Investment Management, LLC of New York has been appointed portfolio advisor to C.I. Latin American Fund, C.I. Emerging Markets Fund, C.I. Pacific Fund, C.I. Japanese Sector Shares and, indirectly, to C.I. Latin American Sector Shares, C.I. Emerging Markets Sector Shares, C.I. Emerging Markets RSP Fund, C.I. Pacific Sector Shares, C.I. Pacific RSP Fund and C.I. Japanese RSP Fund.
Previously, the advisor to these funds was Credit Suisse Asset Management, LLC of New York. These changes were effective July 1.
Trident has also been appointed portfolio advisor to Hansberger European Fund and, indirectly, to Hansberger European Sector Shares. In addition, the names of these funds have been changed to C.I. European Fund and C.I. European Sector Shares, respectively. These changes were effective July 8.
Previously, the advisor was Hansberger Global Investors, Inc. of Ft. Lauderdale.
The lead portfolio manager of these 12 funds is Nandu Narayanan, chief investment officer of Trident. Narayanan is an experienced portfolio manager whose career also includes positions at Caxton Corp. and Tiger Management. He holds a PhD in economics with concentrations in finance and international economics from the Massachusetts Institute of Technology and a master’s degree in management from MIT’s Sloan School of Management.
Narayanan has been lead manager of C.I. Emerging Markets Fund for more than three years, and lead manager of C.I. Pacific Fund for about two years.
“Nandu Narayanan is a top-ranked portfolio manager and we are pleased to expand his role at C.I.,” said Peter W. Anderson, president of C.I. “This is another stage in our strategy of offering Canadian investors a choice of leading portfolio management teams.”
In other changes, C.I. Global Advisors LLP of New York has been appointed portfolio advisor to the Insight Global Fixed Income Pool, C.I. World Bond Fund and, indirectly, to C.I. Global Bond RSP Fund, effective July 1. The previous advisor to these three portfolios was Credit Suisse Asset Management.
The lead portfolio managers are now William Sterling, chief investment officer of C.I. Global, and Kent Osband. Osband recently joined C.I. Global from CrossBorder Capital in London, where he was managing director. His career includes positions at Credit Suisse First Boston, Goldman Sachs, the World Bank and the International Monetary Fund. Osband holds a PhD in economics from the University of California at Berkeley.
In addition, C.I. has assumed the role of portfolio advisor to the Insight U.S. Value Pool and the Insight International Value Pool, effective July 8. Previously, the advisor was Hansberger Global Investors. The lead portfolio manager is now John Hock, CFA, who has 12 years of investment industry experience focused on the analysis and selection of international securities.
Hansberger continues to advise C.I. funds with $400 million in assets as of July 11.
-IE Staff