Apr. 20, 2011 (Canada NewsWire Group) --
TSX Symbol: CIX
TORONTO, April 20 /CNW/ - CI Investments Inc. ("CI") today announced the appointment of highly regarded portfolio managers Robert Swanson and Brandon Snow to its Cambridge Advisors investment team.
"Bob Swanson and Brandon Snow are high-calibre managers with outstanding track records and we are delighted to appoint them as Portfolio Managers to the Cambridge team," said Derek J. Green, President of CI Investments.
Mr. Swanson's investment career spans 27 years, with extensive experience in managing Canadian and global equity, income and balanced portfolios. At his previous firm, he was lead portfolio manager of several mutual funds with combined assets under management exceeding $20 billion. In the past two years, his funds have won an impressive seven Lipper Fund Awards, which recognize funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers.
Mr. Snow has eight years of investment management experience. Prior to joining CI, he was portfolio manager of two Canadian-focused equity funds with a total of $1.7 billion in assets. His large-cap fund was the winner of a Lipper Fund Award in 2010.
Boston-based Cambridge Advisors was founded in January 2008 and manages approximately $2.3 billion in assets. The team is led by Chief Investment Officer Alan Radlo. As lead manager of the three existing Cambridge funds, Mr. Radlo has produced excellent returns on behalf of investors.
"With the addition of Bob and Brandon, the Cambridge team will present a powerful lineup of top-ranked investment talent," Mr. Green said. "To offer the full range of their award-winning expertise to Canadian investors, we will soon be launching additional funds under the Cambridge brand."
"We are thrilled to be reunited with Alan and to have the opportunity to build on the strong foundation he has established at Cambridge," said Mr. Swanson. "We are looking forward to expanding the resources of the Cambridge team and establishing a new group of funds with the support of CI, one of Canada's largest investment managers."
The three managers worked together as part of the Canadian investment team at their previous firm, a U.S.-based investment company. In 21 years at the firm, Mr. Radlo managed various Canadian, American and global portfolios, before leaving in December 2006.
At that company, Mr. Swanson was leader of the firm's Canadian asset allocation team and lead manager of several funds, including a Canadian asset allocation fund, a monthly income fund, an income allocation fund and a dividend fund. He also managed a number of institutional equity mandates, including a Canadian equity mandate that was noted for its risk-adjusted returns. Prior to joining that firm in 1999 as a U.S. equity portfolio manager, Mr. Swanson spent 10 years at Bank of America Investment Advisors, where was a senior portfolio manager. His experience also includes positions at ABN-Amro and Merchandise National Bank. He holds a bachelor's degree in finance from Northern Illinois University, an MBA from Northwestern University and the Chartered Financial Analyst designation.
Mr. Snow joined his previous firm in 2003 as a Canadian equity research analyst. He was later appointed manager of a large cap equity fund and a growth fund. He holds a BA in economics and financial management from Wilfrid Laurier University.
The Cambridge funds have produced strong returns relative to peers and
their benchmarks over the three years since inception (December 31,
2007). Their returns as of March 31, 2011 are as follows:
|1 year||2 years||3 years||Inception|
|Cambridge Canadian Equity Corporate Class||15.4%||24.4%||4.2%||4.1%|
|Cambridge Canadian Asset Allocation Corporate Class||17.9%||24.4%||6.8%||6.1%|
|Cambridge Global Equity Corporate Class||6.2%||16.7%||2.1%||2.6%|
CI Global Holdings Inc., a subsidiary of CI, operates in Boston, Mass., as Cambridge Advisors. CI Investments Inc. is one of Canada's largest investment management companies. It offers a broad range of investment products and services, including an industry-leading selection of investment funds, and is on the Web at www.ci.com. CI is a subsidiary of CI Financial Corp. (TSX: CIX), an independent, Canadian-owned wealth management firm with approximately $98.9 billion in assets as of March 31, 2011.
Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. The Lipper Fund Awards are part of the Thomson Reuters Awards for Excellence, a global family of awards that celebrate exceptional performance throughout the professional investment community. The Thomson Reuters Awards for Excellence recognize the world's top funds, fund management firms, sell-side firms, research analysts, and investor relations teams. For more information, visit excellence.thomsonreuters.com.
Derek J. Green, President
CI Investments Inc.