March - CI Investments

Fund Factsas at March 31, 2010Fund Codes Class A Corporate ClassISC CIG681 CIG205DSC CIG881 CIG705LSC CIG1881 CIG1705CI International Value FundAlso available: Class F & IMutual Funds(Class A)Managed By: CI Investments Inc.Advisors: Altrinsic Global Advisors, LLCAssets Under Management: $130.3 millionPortfolio Manager: John HockAsset Class: International EquityInception Date: June 1996NAV: $9.85Min. Initial Investment: $500Subsequent Purchase(s): $50Min. PAC Investment: $50Management Expense Ratio: 2.33%Top Holdingsas at March 31, 2010Nintendo Co. 2.82%GlaxoSmithKline PLC 2.58%BP PLC 2.31%Sanofi−Aventis 2.23%Covidien 2.21%Diageo PLC 2.20%Seven & I Holdings Co. 2.13%Heineken NV 2.10%Carrefour SA 2.06%Nokia 1.94%Total 22.58%OBJECTIVEThis fund’s objective is to obtain maximum long−term capital growth. It invests primarily in equity and equity−related securities ofcompanies whose primary operations are outside of North America. The fund may make significant investments in any country includingemerging markets and emerging industries of any market. Any change to the investment objective must be approved by a majority ofvotes cast at a meeting of unitholders held for that reason.Compound Returns and Quartile Rankings (as at March 31, 2010)This table shows the historical annual compound total return of the fund compared with the Globefund Group Average and Globefund’sbenchmark MSCI EAFE ($ Cdn). The returns listed below are percentages.YTD 1Mo 3Mo 1Yr 3Yr 5Yr 10YrSinceInception*Qrtl 1 3 1 4 1 2 1 {N/A}Return −0.3 2.6 −0.3 18.71 −9.63 −0.98 −1.47 0.56Grp Avg −1.57 3.34 −1.57 27.7 −12.06 −1.46 −3.23 {N/A}Ind Ret −2.05 2.57 −2.05 25.08 −10.42 0.65 −1.9 {N/A}*June 12, 1996Performance DataThis chart shows you the fund´s annual performance and how an investment would have changed over time. Volatility MeterAsset ClassCurrent Value of a $10,000 InvestmentLowHighBased on 3−year standard deviation relative to other fundsin its category, from Globe HySales.Equity Style and Capitalization OverviewLargeMidSmallBlend Growth ValueEquity SectorsInternational Equity 91.5%Cash 1.4%Canadian Equity 5.5%United States Equity 1.6%Cash 1.4%Information Technology 12.5%Industrials 13.5%Financials 18.0%Consumer Staples 19.1%Other 17.2%Health Care 9.3%Energy 9.0% Geographic CompositionSource: CI Investments and CTVglobemedia Publishing Inc.Ireland 2.2%Germany 11.1%France 9.7%Other 20.6%Japan 28.6%United Kingdom 17.0%Canada 5.5%Switzerland 5.2%PAGE 66 • SPRING 2010 PERSPECTIVE AS AT MARCH 31, 2010