CI Mutual Funds Inc. has retained Bill Miller as sub-advisor to several mutual funds.

Miller, CEO of Legg Mason Funds Management, Inc., will manage a new U.S. equity fund called the C.I. Value Trust Fund, to be launched later this month. He will also assume the management of the Clarica Premier American Fund on September 1, and the Clarica U.S. Growth Equity Fund, effective late October.

“We are pleased to add an extraordinary and talented manager such as Bill Miller to the CI family of funds,” said Peter Anderson, president of CI Mutual Funds Inc.

“We’re looking forward to this collaboration with CI, a partner that we believe shares our ‘best-in-class’ approach,” Miller said.

As manager of the Legg Mason Value Trust, Miller has beaten the S&P 500 Index every calendar year for the last 11 years. Morningstar.com named him “Fund Manager of the Decade” in 1999. For the 10-year period ending June 30, Miller’s fund has posted an average annual total return of 16.0%, versus 11.4% for the S&P. The fund had US$7.9 billion in assets at June 30.