Toronto-based CI Investments Inc. introduced ETF versions of three liquid alternative mutual funds on Tuesday.
The ETFs mirror the strategies of CI’s liquid alt mutual funds, launched in November 2018, by incorporating hedge fund strategies such as short-selling, leverage and derivatives, CI said it a release.
The CI Lawrence Park Alternative Investment Grade Credit ETF, managed by Lawrence Park Asset Management Ltd., invests primarily in widely traded securities and investment-grade debt of institutions in the developed world. It seeks to offer a consistent return and low correlation to equity and fixed income markets.
The CI Marret Alternative Absolute Return Bond ETF invests primarily in debt instruments and other income-producing securities throughout the world. Managed by Marret Asset Management Inc., it uses a “combination of top-down macroeconomic analysis involving the assessment of economic, political and market trends, complemented by a bottom-up company and security-level analysis.”
The CI Munro Alternative Global Growth ETF, managed by Munro Partners, invests primarily in international equities, using a long/short equity strategy with a long bias. It focuses on uncovering sustainable growth trends that have been mispriced or underappreciated and the resulting “winning and losing” stocks.
All three liquid alternative ETFs are trading on the Toronto Stock Exchange.