Toronto-based CI Investments Inc. has launched three liquid alternative mutual funds, the investment manager announced Wednesday.
The funds are based on the Canadian Securities Administrator’s alternative mutual funds proposals. “Liquid alts” give retail investors access to investment strategies typically only available to institutional or accredited investors.
The new funds are as follows:
Lawrence Park Alternative Investment Grade Credit Fund invests in the investment-grade debt of corporations and financial institutions in developed countries. It will use leverage to “prudently increase the expected yield of the portfolio while attempting to limit expected volatility.”
Marret Alternative Absolute Return Bond Fund will aim to provide positive absolute returns with low volatility, regardless of market conditions or general market direction. It will invest primarily in debt instruments across the credit spectrum.
Munro Alternative Global Growth Fund seeks to generate risk-adjusted, absolute returns through exposure to global growth equities over the medium-to-long term, while focusing on capital preservation.
The minimum investment for each liquid alt fund is $500.
“CI’s liquid alts lineup is designed to meet distinct investor needs through a choice of mandates – investment-grade credit, fixed income and global equities – that draw on the unique strengths of our portfolio management teams,” Roy Ratnavel, CI’s executive vice president and head of sales, says in a statement. “Lawrence Park Asset Management, Marret Asset Management and Munro Partners each have particular expertise and an established track record investing in specific alternative strategies on behalf of retail, high net worth and institutional clients.”
Lawrence Park and Marret are both based in Toronto; Munro Partners is based in Melbourne, Australia.