CI Mutual Funds Inc. announced portfolio management changes to four Clarica-branded mutual funds on Friday. The changes are effective immediately.

Eric Bushell, chief investment officer of CI’s Signature Funds group, has been appointed lead portfolio manager of Clarica Equifund and Clarica Canadian Blue Chip Fund. Previously, the portfolios were managed by Natcan Investment Management Inc. As a result of these changes, Bushell also becomes lead portfolio manager of Clarica SF Canadian Blue Chip Fund, a segregated fund.

Bushell is lead manager of several Canadian equity funds, including the $1.1 billion Signature Select Canadian Fund, which has first-quartile performance over the one, two and three-year periods ending January 31, 2003. The Signature group overall is responsible for investments of $6 billion.

Meanwhile, Jeffrey Herold of J. Zechner Associates Inc. has been named lead manager of Clarica Income Fund and Clarica Premier Bond Fund. The previous portfolio manager was Perigee Investment Counsel Inc. As a result of these changes, Herold also becomes portfolio manager of Clarica SF Income and Clarica SF Premier Bond segregated funds.

Herold, vice president and director at J. Zechner Associates, is lead manager of CI Canadian Bond Fund and other CI fixed-income funds with a total of $1.7 billion in assets.

“These changes are part of our ongoing plan to streamline our lineup of portfolio management teams following the acquisition of the Clarica funds last summer,” said Peter Anderson, CI President, in a news release.