CI Investments Inc. today announced the launch of CIBC CI M.A.X. Deposit Notes, Series 9, ROC (Return of Capital), which offer investors exposure to the global diversification of CI Global High Dividend Advantage Fund.

The portfolio of CI Global High Dividend Advantage Fund is managed by Epoch Investment Partners, Inc. of New York, led by chief investment officer William Priest, a 35-year veteran of Wall Street. The fund invests in a well-diversified mix of global dividend-paying companies that enhance shareholder yield through cash dividends, stock buybacks and debt reduction.

The dynamic allocation strategy of the notes provides the potential for up to 200% exposure to CI Global High Dividend Advantage Fund and offers potential distributions as tax-efficient returns of capital of up to 8.33% per year.

Initial exposure to the fund will be 125% and indicative monthly distributions are 5.2% per annum, equal to 75% of the ordinary distributions payable on the fund. All other distributions will be notionally reinvested in the notes.

CI Investments says the notes represent an appealing alternative to domestic fixed-income investments, combining the potential for enhanced returns through exposure to a fund of well-diversified global securities with higher current cash flow relative to fixed-income distributions that are immediately taxable.

Investors are encouraged to consult their own tax advisors with respect to the tax consequences of an investment in the notes.

The “declining bond floor” methodology employed by the notes allows for potentially greater exposure to the fund as the monthly return of capital distributions should increase the “distance” between the bond floor and the net asset value of the note relative to a note using a traditional bond floor methodology. This feature offers the possibility of enhancing the potential Final Variable Payment at maturity, as well as potential distributions throughout the life of the notes.

CIBC CI M.A.X. Deposit Notes(TM), Series 9, ROC (Return of Capital) are 100% eligible for registered plans and are available through most financial advisors until August 24.

The issue price is $100 per deposit note, with a minimum investment of $5,000.