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 up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
