July - Summer Edition - CI Investments

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Portfolio Snapshot Cambridge Global Equity June 30, 2011 Fund management Portfolio advisor: Cambridge Advisors Portfolio manager: (start date) Alan Radlo (January 2008 Brandon Snow (April 2011) About Cambridge • Cambridge Advisors is a Boston and Toronto-based investment management team which currently manages over $3 billion in assets. • It is led by Alan Radlo, Chief investment Officer, who has over 28 years of investment experience. • The team has a proven ability to protect investors’ capital in all markets. • Cambridge funds provide growth with downside protection. • The funds have flexible mandates, which are ideal for pursuing good buying opportunities. Fund characteristics Fund inception date: December 2007 Assets: $619 million* *Class A shares at June 30, 2011 Investment objective: The fund’s objective is to achieve long-term capital growth by investing primarily in equity securities of companies located anywhere in the world. How is the fund managed? • Although the fund tends to focus on the developed world, there are no restrictions to its geographic allocation. • The portfolio is made up of small to large-cap stocks and encompasses all industry sectors. • The manager seeks companies which are building economic value – these typically have strong earnings, solid balance sheets, excellent management and reasonable values. Why invest in this fund? • You want a core foreign equity fund for your portfolio • you are investing for the medium and/or long term • you can tolerate medium risk Holdings analysis Asset class International equity 50% US equity 38% Cash & equivalents 8% Canadian equity 4% Country breakdown United States 38% Other 14% Britain 14% Germany 12% France 5% Canada 4% Jersey Island 4% Switzerland 4% Norway 3% Denmark 2% Sector Industrials 23% Information technology 19% Energy 15% Health care 10% Cash 8% Financials 8% Materials 8% Consumer discretionary 7% Utilities 2% 14 SUMMER 2011 PERSPECTIVE AS AT JUNE 30, 2011
Portfolio Snapshot Performance YTD 1 Year 2 Years 3 Years Since inception* Cambridge Global Equity Corporate Class 0.3% 20% 12% 0% 2.4% *December 31, 2007 Holdings Top 15 holdings Country Sector Weight JPMorgan Chase & Co. United States Financials 2.6% Standard Chartered PLC Britain Financials 2.5% Roche Holdings Switzerland Health care 2.0% Novo-Nordisk Denmark Health care 2.0% Apache Corp. United States Energy 1.9% Seadrill Ltd. Bermuda Energy 1.9% Petrofac Ltd. Jersey Island Energy 1.9% Devon Energy Corp. United States Energy 1.8% Abbott Labs Inc. United States Health care 1.6% Volkswagen AG Germany Consumer discretionary 1.6% Siemens AG Germany Industrials 1.6% Brookfield Infrastructure Partners L.P. Canada Utilities 1.6% Astrazeneca Britain Health care 1.6% Tourmaline Oil Corp. Canada Energy 1.6% Schroders PLC Britain Financials 1.5% Fund codes Class A ISC DSC LL Class F PMA Cambridge Global Equity Corporate Class 2323 3323 1523 4323 5323 US$ 2518 3518 1218 4518 N/A T5 118T5 218T5 318T5 418T5 518T5 T8 618T8 718T8 818T8 918T8 018T8 SUMMER 2011 PERSPECTIVE AS AT JUNE 30, 2011 15
Page 1 and 2: www.ci.com/perspective Summer 2011
Page 3 and 4: Summer 2011 Dear Advisor, CI Invest
Page 5 and 6: Introducing Black Creek That gives
Page 7 and 8: Introducing Black Creek [Q] Why hav
Page 9 and 10: Book reviews Book reviews Settling
Page 11 and 12: Book reviews NON-FICTION: The Big S
Page 13 and 14: Book reviews Brandon Snow Principal
Page 15: Book reviews Malcolm White Vice-Pre
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Page 31 and 32: Commentary In addition to the above
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Fund Facts as at June 30, 2011 Fund
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Summary of capped funds MUTUAL/HEDG
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Portfolio Select Series LEAD MANAG
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