CI Investments has launched the fourth fund in its lineup of liquid alternative offerings, the CI Marret Alternative Enhanced Yield Fund, an income mandate designed to provide an attractive yield while protecting capital.
The fund is available in both mutual fund and exchange-traded fund series, with the ETF series having closed its initial offering and commencing trading today on the Toronto Stock Exchange. As a liquid alternative mandate, CI Marret Alternative Enhanced Yield has access to non-traditional investment strategies with the potential for enhancing diversification, returns and risk management.
“We launched CI Liquid Alternatives™ with three mandates in November 2018 and our assets under management in these products has grown to over $1.6 billion, demonstrating investors’ interest in alternative investment strategies,” says Roy Ratnavel, CI Executive Vice-President and Head of Distribution.
“Recent market disruptions have highlighted the value of these strategies. The new Marret fund is especially timely, with its emphasis on generating stable income no matter what happens in the broad equity and income markets.”
The ETF C$ Series units and ETF US$ Hedged Series units of CI Marret Alternative Enhanced Yield Fund are trading under the tickers CMEY and CMEY.U, respectively. Mutual fund units are also available in both Canadian dollar and US dollar hedged versions.
The portfolio is managed by Marret Asset Management (Marret), which is majority owned by CI Financial Corp. and an affiliate of CI. Marret is a Toronto-based investment firm that specialises in fixed income with a focus on corporate credit strategies. Marret is led by President and Chief Executive Officer Paul Sandhu, who has over 30 years of Canadian and global fixed-income experience. Sandhu’s co-managers on the new fund are Adam Tuer, Vice-President, Portfolio Manager and Head of Research, and Adrian Prenc, Vice-President, Portfolio Manager and Chief Risk Officer.
Marret has extensive experience in managing income-focused alternative strategies, including Marret Enhanced Tactical Fixed Income Fund, and CI Marret Alternative Absolute Return Bond Fund and ETF.
The investment objective of CI Marret Alternative Enhanced Yield Fund is to provide income with low volatility over a market cycle regardless of market conditions or general market direction, while targeting low correlation to equity and traditional income.
CI continues to expand its lineup of alternative investments as part of its strategic priority of modernising its asset management business. CI recently announced a strategic partnership with Adams Street Partners, LLC, a global leader in private markets investment management, to develop investment solutions exclusively for CI that will provide Canadian investors access to private equity and private credit investments in markets around the world.
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