CI Investments Inc. launched the Bank of Nova Scotia-CI Performer Deposit Notes, Series 2, on Monday. The notes offer principal protection, monthly income and exposure to a diverse portfolio of global dividend-paying companies through a notional investment in the CI Global High Dividend Advantage Fund.
The deposit notes are available in two series: the Bank of Nova Scotia-CI Performer Deposit Notes (Yield), Series 2, are designed to add income and growth potential to registered portfolios, while the Bank of Nova Scotia-CI Performer Deposit Notes (Return of Capital), Series 2, are suitable for non-registered accounts.
The returns of the deposit notes, if any, are linked to the performance of the fund, which is an income-oriented global equity fund. The deposit notes are being launched with an initial 125% exposure to the fund and a dynamic allocation strategy, utilizing leverage, that allows for up to 200% exposure to the fund. The deposit notes also provide for the repayment of all of investors’ principal by maturity (in the case of the Return of Capital series) and if held until maturity (in the case of the Yield series), regardless of the fund’s performance.
“The deposit notes offer income-seeking investors an attractive package, including monthly distributions, tax efficiency, global diversification and the benefits of leverage, while protecting their principal,” said David R. McBain, senior vice president of CI Investments.
CI Investments launches Bank of Nova Scotia-CI Performer Deposit Notes, Series 2
The notes are available in two series: one for registered portfolios and one for non-registered accounts
- By: IE Staff
- September 10, 2007 September 10, 2007
- 09:50