TORONTO, June 16, 2020 /CNW/ – CI Investments Inc. (“CI”) today launched CI Global Longevity Economy Fund, the industry’s first strategy to focus on companies benefiting from changes in consumer behaviour, technology and health care resulting from the trend towards longer, healthier lifespans. This mandate offers both mutual fund series and an exchange-traded fund (“ETF”) series. The ETF series has closed its initial offering and commenced trading today on the Toronto Stock Exchange under the symbol LONG.
CI actively manages the fund using insights and research from Dr. Joseph Coughlin, a global expert on demographic change, Founder and Director of the Massachusetts Institute of Technology AgeLab, and author of The Longevity Economy: Unlocking the World’s Fastest-Growing, Most Misunderstood Market.
“Given the broader trends and demographic shifts occurring around the world, we are providing investors with the opportunity to invest directly in companies that are poised to thrive in the longevity economy,” said Kurt MacAlpine, Chief Executive Officer of CI Financial Corp., parent company of CI.
“Those over 50 not only account for a growing share of the population, but they have better health, more active lifestyles, greater wealth, and diverse demands. The CI Global Longevity Economy strategy exploits the trends and changes driven by this historically unique cohort of consumers.”
Potential investment themes include: medical innovations; technologies that allow for aging in place; and the “silver lifestyle” – products and services that accommodate a more active retirement. Holdings will be selected based on their positive exposure to the longevity economy theme in combination with in-depth fundamental analysis.
“The advantages of an active approach include the ability to focus on the highest-quality companies within the longevity theme, along with the flexibility to quickly respond to unexpected events, such as the COVID-19 pandemic,” Mr. MacAlpine said. “Additionally, CI has deep expertise in global health care and other sectors relevant to the longevity economy.”
Lead Portfolio Manager is Dr. Jeff Elliott, Vice-President, Portfolio Management with Signature Global Asset Management, a division of CI. Dr. Elliott, who brings 17 years of experience as a specialist in health care investing to the role, will be supported by Signature’s large team of equity sector specialists and global strategists. He holds a Bachelor of Science (Honours) degree in biochemistry, a PhD in molecular biology and biochemistry, an MBA and the CFA designation. His career includes seven years as a portfolio manager at Signature focused on the health care sector, three years at an asset manager specializing in health care, and seven years as a health care equity analyst for UBS Securities in New York and Toronto.
The fund’s investment approach includes insights from Dr. Coughlin, who researches the impact of global demographic change and technology trends on consumer behaviour and business strategy, and is recognized as a leading global expert, advisor and speaker on this topic. CI Financial partnered with Dr. Coughlin in December 2019 to educate advisors and investors on retirement issues and to incorporate his expertise into longevity planning strategies and new investment solutions. CI Global Longevity Economy Fund is a result of this collaboration.
The Coughlin partnership and the new fund reflect CI Financial’s strategic priorities of modernizing its asset management business and expanding its wealth management platform.
CI Global Longevity Economy Fund is offered in mutual fund units in Series A, Series F, Series I and Series P, and in ETF C$ Series. Further information is available at ci.com.
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 $172 billion in fee-earning assets as of May 31, 2020.
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 recognized Canadian exchanges. If the units are purchased or sold on these Canadian exchanges, 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
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
