CI replaces Legg Mason, Trilogy

CI Investments announced several portfolio management changes late on Friday, affecting a number of global equity, balanced and income mutual funds.

With the changes announced today, CI is ending its portfolio management relationships with Legg Mason Capital Management and Trilogy Global Advisors. The portfolio management changes will indirectly affect a number of segregated funds that invest in the affected mutual funds.

Effective June 6, 2011, Cambridge will become portfolio manager of CI American Equity Fund, CI American Equity Corporate Class, CI Value Trust Corporate Class and a portion of the portfolio of CI American Managers Corporate Class.

At the same time, the names of CI American Equity mandates will change to Cambridge American Equity.

On the same date, Signature Global Advisors will assume the portfolio management of 22 funds, including:

• CI Emerging Markets Fund
• CI Emerging Markets Corporate Class
• CI European Fund
• CI European Corporate Class
• CI Global Bond Fund
• CI Global Bond Corporate Class
• CI Global Fund
• CI Global Corporate Class
• CI Global Science & Technology Corporate Class
• CI International Fund
• CI International Corporate Class
• CI International Balanced Fund
• CI International Balanced Corporate Class

And will take over portions of the following multi-manager funds:

• CI Income Advantage Fund
• Select Income Advantage Managed Corporate Class
• Select International Equity Managed Fund
• Select International Equity Managed Corporate Class and
• CI Global Managers Corporate Class.

“With these changes, we are streamlining the lineup of portfolio management groups offered by CI and moving funds to two of our strongest investment teams,” said Derek J. Green, CI president. “We have full confidence that investors will be well served by the Cambridge and Signature groups.”

Signature will no longer manage a portion of the portfolio of CI American Managers Corporate Class and these assets will be assigned to the other portfolio managers of the fund.

In addition, Signature is being appointed portfolio manager of the following funds that are offered under the United Financial brand: United Global Fixed Income Pool, United Global Fixed Income Corporate Class, United Emerging Markets Equity Pool, and United Emerging Markets Equity Corporate Class.

“These funds are a natural fit with Signature’s existing mandates and proven expertise,” said Mr. Green. “Signature has spent the past decade building in-depth global investment capabilities and today manages approximately $11 billion in foreign securities. Its sector specialists have travelled extensively and have well-developed relationships with analysts and companies around the world, including those operating in emerging markets.”

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