Portfolio manager changes at CI

CI Investments Inc. of Toronto has announced changes to its Lakeview mutual funds, including the appointment of a new portfolio manager, which were scheduled to take effect on or about Dec. 14, 2012. Cambridge Advisors, a division of CI Investments, will replace Barometer Capital Management Inc. as portfolio advisor on Lakeview Disciplined Leadership High Income Fund and Lakeview Disciplined Leadership Canadian Equity Fund. In addition, these funds will be renamed Cambridge High Income Fund and Cambridge Canadian Stock Fund, respectively. The Cambridge Advisors’ team is led by Alan Radlo, chief investment officer, along with portfolio managers Bob Swanson and Brandon Snow. Swanson has been appointed lead portfolio manager of Cambridge High Income Fund; he is currently portfolio manager of Cambridge Income Fund and Cambridge Canadian Asset Allocation Corporate Class. 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. The funds will be reopened to new purchases after having been closed since November 2011. Although the funds’ simplified prospectus allows for performance fees, CI Investments will no longer charge performance fees. Furthermore, CI Investments 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 A-class units and to 0.90% from 0.95% for F-class units. CI Investments has been manager of the Lakeview funds since May 2007, when CI Investments acquired Lakeview Asset Management. CI Investments will no longer be using the Lakeview brand name.

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