Toronto-based CI Investments Inc. (CI) announced on Wednesday that Peter Hofstra will take over the role of senior vice president and senior portfolio manager in its Harbour Advisors investment team in early July.

Hofstra will be joining Harbour Advisors senior portfolio managers Ryan Fitzgerald and Roger Mortimer as a third lead manager.

Previously, Hofstra held the position of chief investment officer, lead portfolio manager and securities analyst with Toronto-based investment-counselling firm Manitou Investment Management Ltd.

“[Hofstra’s] appointment speaks to CI’s continued commitment to the Harbour team and its investment funds,” says Neal Kerr, executive vice president of investment management at CI, in a statement. “Harbour offers its investors deep expertise and extensive experience in conservative value investing, with three senior portfolio managers leading a group of nine additional investment professionals.”

CI also announced that Harbour Advisors will also take over as portfolio advisor to the CI funds that Tetrem Capital Management Ltd. subadvises on or about July 15.

Daniel Bubis, Tetrem’s founder and chief investment officer, is closing his practice and will no longer be managing finances for external investors.

According to CI, Harbour Advisors and Tetrem Capital Management share similar investment styles, so portfolios will remain a good match for clients “seeking a conservative, value-based approach to equity investing.”

Harbour Advisors is also replacing Altrinsic Global Advisors as portfolio manager of the international portions of CI Canadian Investment Fund and CI Canadian Investment Corporate Class.

(A list of the affected CI funds, along with each fund’s new lead portfolio manager, is available in the company’s announcement.)

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