Toronto-based CI Investments Inc. has launched its first suite of liquid alternative (a.k.a. “liquid alt”) mutual funds. These retail mutual funds employ alternative investment strategies, such as short-selling, which more typically are associated with hedge funds. The CI funds’ strategies are based on the Canadian Securities Administrators’ proposals for National Instrument 81-102, which are set to come into effect in January. Lawrence Park Alternative Investment Grade Credit Fund invests primarily in investment-grade debt of corporations and financial services institutions in the developed world; this fund uses leverage to increase the expected yield of the portfolio while also attempting to limit volatility. Toronto-based Lawrence Park Asset Management Ltd. subadvises this fund. Marret Alternative Absolute Return Bond Fund provides investors with positive absolute returns with low volatility over any market cycle by investing in debt instruments. Toronto-based Marret Asset Management Inc. subadvises this fund. Munro Alternative Global Growth Fund is designed to generate risk-adjusted absolute returns through investments in global growth equities over the medium to long term while maintaining a capital-preservation mindset. Melbourne, Australia-based Munro Asset Management Ltd. is this fund’s subadvisor. For full fund details, including fees, visit ci.com.
(fcollie@investmentexecutive.com).