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Press release from CNW Group

CI Investments announces portfolio management and other changes to the Lakeview mutual funds

Friday, November 30, 2012

CI Investments announces portfolio management and other changes to the Lakeview mutual funds14:00 EST Friday, November 30, 2012TSX Symbol: CIXTORONTO, Nov. 30, 2012 /CNW/ - CI Investments Inc. ("CI") today announced a series of changes to its Lakeview mutual funds, including the appointment of a new portfolio manager.Effective on or about December 14, 2012, Cambridge Advisors will become portfolio advisor to Lakeview Disciplined Leadership High Income Fund and Lakeview Disciplined Leadership Canadian Equity Fund. The funds will be renamed Cambridge High Income Fund and Cambridge Canadian Stock Fund, respectively.In addition, the funds will be re-opened to new purchases after having been closed since November 2011. Although the funds' simplified prospectus allows for performance fees, CI will no longer charge performance fees. Furthermore, CI is reducing the management fees of the High Income fund to align them with other CI funds in this category. The management fees will be reduced to 1.90% from 1.95% for Class A units and to 0.90% from 0.95% for Class F units.Cambridge Advisors manages over $4 billion in assets and has offices in Boston and Toronto. The team, a division of CI Investments, is led by Chief Investment Officer Alan Radlo and Portfolio Managers Bob Swanson and Brandon Snow."The exceptional talent and experience of the Cambridge portfolio managers make them an excellent choice for these funds," said Derek J. Green, CI President. "They have proven themselves with award-winning results in managing similar mandates."Mr. Swanson has been appointed lead portfolio manager of Cambridge High Income Fund. He is portfolio manager of Cambridge Income Fund and Cambridge Canadian Asset Allocation Corporate Class. He has an investment career spanning 29 years that includes extensive experience in managing income, equity and balanced portfolios. Prior to joining Cambridge, Mr. Swanson was portfolio manager of funds that won seven Lipper Fund Awards in 2010 and 2011.Mr. Snow has been appointed lead portfolio manager of Cambridge Canadian Stock Fund. He is portfolio manager of Cambridge Canadian Equity Corporate Class, Cambridge Pure Canadian Equity Fund and Cambridge Canadian Growth Companies Fund. His 10 years of investment experience include guiding a large-cap Canadian equity fund to award-winning performance.Cambridge is replacing Barometer Capital Management, which has resigned as sub-advisor to the funds. CI has been manager of the Lakeview funds since May 2007 when CI acquired Lakeview Asset Management. With the changes announced today, CI will no longer be using the Lakeview brand name.About CI Investments - Canada's Investment CompanyCI 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 CI is a subsidiary of CI Financial Corp. (TSX: CIX), an independent, Canadian-owned wealth management firm with approximately $97 billion in assets as of October 31, 2012.Cambridge Advisors is the business name of CI Global Investments Inc. Certain portfolio managers of Cambridge Advisors are registered with CI Investments Inc. Lipper Fund Awards are given by Lipper, Inc. to recognize funds that have provided superior consistency and risk-adjusted returns when compared to a group of similar funds. Awards are given to the fund with the highest value within its category for the time periods of one, three five and 10 years according to the Lipper Leader ratings for Consistent Return, which reflect funds' historic returns, adjusted for volatility, relative to peers. Lipper Leader ratings change monthly. For more information, see The Lipper Fund Awards are part of the Thomson Reuters Awards for Excellence. For more information, visit SOURCE: CI Investments Inc.For further information: Derek J. Green President CI Investments (416) 364-1145