TORONTO, May 12, 2020 /CNW/ - CI Investments Inc.
("CI") today announced the launch of the CI DoubleLine Funds –
three new income mandates to be sub-advised by DoubleLine Capital
LP ("DoubleLine") and the legendary "Bond King" Jeffrey Gundlach. The three mandates are
available in both mutual fund and exchange-traded fund series, with
the ETF series commencing trading today on the Toronto Stock
Exchange.
Mr. Gundlach and the DoubleLine team have established a global
reputation as outstanding income investors due to their consistent
long-term performance. In partnership with CI, DoubleLine is now
offering three of its income strategies to the Canadian market,
including its flagship Total Return Bond strategy.
The new funds, the TSX tickers for the ETF Series, and their
investment objectives are:
- CI DoubleLine Total Return Bond US$ Fund (ETF C$
Hedged Series, CDLB; ETF US$ Series, CDLB.U; ETF C$ Unhedged
Series, CDLB.B) – to seek to maximize total return by primarily
investing in securitized investments and other fixed-income
securities issued by the U.S. government or other issuers.
- CI DoubleLine Core Plus Fixed Income US$ Fund (ETF
C$ Hedged Series, CCOR; ETF US$ Series, CCOR.U; ETF C$ Unhedged
Series, CCOR.B) – to seek to maximize current income and total
return by primarily investing in a portfolio of fixed-income
securities of any maturity across the global fixed-income
spectrum.
- CI DoubleLine Income US$ Fund (ETF C$ Hedged Series,
CINC; ETF US$ Series, CINC.U; ETF C$ Unhedged Series, CINC.B) – to
seek to maximize total return by primarily investing in a
combination of securitized assets and other income-producing
securities of varying characteristics, selected for their potential
to provide a high level of current income, capital appreciation or
both.
Mutual fund units are offered in U.S. dollar, Canadian dollar
unhedged, and Canadian dollar hedged versions in each of Series A,
F, P and I.
"We're excited to offer Canadians access to the deep expertise
and proven strategies of one of the world's most influential and
successful asset managers," said Kurt
MacAlpine, Chief Executive Officer of CI Financial, CI's
parent company. "The CI DoubleLine funds are especially timely
today, as many investors are looking for less-volatile options to
put money to work. These mandates, actively managed by a seasoned
team of fixed-income experts, are excellent choices as core income
holdings."
Offering these mandates as both mutual funds and ETFs is part of
CI's approach to making its investment capabilities available in a
variety of structures, providing additional choices to clients. The
new funds expand CI's extensive fixed-income lineup, where the
company is already a Canadian market leader with approximately
$40 billion under management in this
asset class.
"With the CI DoubleLine funds, we are adding new capabilities to
our wide choice of income mandates while providing compelling
options to investors uncomfortable with the volatility in equity
markets," Mr. MacAlpine said. "We are also continuing to address
the need for high-quality income solutions as increasing numbers of
Canadians prepare for and begin retirement."
Mr. Gundlach is Chief Executive Officer and Chief Investment
Officer of Los Angeles-based
DoubleLine. His success in fixed-income investing over several
decades has earned him the media nickname "The Bond King." He
founded Los Angeles-based
DoubleLine in 2009. Just more than 10 years later, the firm manages
over US$150 billion in assets. Mr.
Gundlach's accolades include being inducted into the FIASI Fixed
Income Hall of Fame in 2017, named to Bloomberg Markets
Magazine's "50 Most Influential" in 2012, 2015 and 2016, and
named Institutional Investor's "Money Manager of
the Year" in 2013, among others.
DoubleLine has been recognized as: Chief Investment
Officer Magazine's "Asset Management and Servicing Winner,
Fixed Income – Core Plus Fixed Income" in
20181; Risk Magazine's "Institutional
Investor of the Year" for Shiller Enhanced CAPE® in
20162; and Institutional Investor's "U.S.
Fixed Income – Mortgage Backed Securities" award in 2013, 2014 and
20163.
About DoubleLine Capital
DoubleLine is an independent, employee-owned money management
firm with over US$150 billion in
combined assets under management invested across a wide array of
investment strategies (as of December 31,
2019). The firm's fixed-income portfolio management team
averages 23 years of industry experience and 17 years of working
together.
About CI Investments
CI Investments is one of Canada's largest investment management
companies. It offers a wide range of investment products and
services and is on the Web at www.ci.com. CI is a subsidiary of CI
Financial Corp. (TSX: CIX), an independent company offering global
asset management and wealth management advisory services with
$166.3 billion in fee-earning assets
as of April 30, 2020.
1. Chief Investment Officer Magazine,
Asset Management and Servicing Winner – Fixed Income/Credit – CIO
Magazine seeks nominations through its website from other CIOs. The
staff researches the nominee by, among other things, reaching out
to "asset owners in the community." The magazine chose a list of
finalists and then chose a winner based on recommendations from the
CIOs.
2. Risk Magazine Institutional
Investor of the Year – Banks and other service providers are
encouraged to nominate investors that have made significant gains
through their use of structured derivatives, who can demonstrate
best practices in risk management using innovative structures, or
who have executed an innovative trade.
3. Institutional investor U.S. Fixed
Income – Mortgage Backed Securities award winners are chosen by the
editorial staff of Institutional Investor magazine based on their
market intelligence, performance data and additional information
received from the industry following a public call for
nominations.
Commissions, trailing commissions, management fees and
expenses all may be associated with an investment in mutual funds
and exchange traded funds (ETFs). Please read the prospectus before
investing. Important information about mutual funds and ETFs is
contained in its respective prospectus. Mutual funds and ETFs are
not guaranteed; their values change frequently and past performance
may not be repeated. You will usually pay brokerage fees to your
dealer if you purchase or sell units of an ETF on the TSX. If the
units are purchased or sold on the TSX, investors may pay more than
the current net asset value when buying units of the ETF and may
receive less than the current net asset value when selling
them.
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SOURCE CI Investments Inc.