CI Investments Inc. Monday announced the launch of three funds for income-seeking investors, with Marret Asset Management Inc. acting as portfolio manager. Both firms are based in Toronto.
The new funds — Marret Short Duration High Yield Fund, Marret High Yield Bond Fund, and Marret Strategic Yield Fund — produce regular income through fixed monthly distributions.
Marret Short Duration High Yield Fund has an investment objective to generate income by primarily investing in a diversified portfolio of high-yield corporate bonds that are expected to have durations of one to five years, and other income-producing securities throughout the world.
Marret High Yield Bond Fund has an investment objective to generate income and capital appreciation by investing in a diversified portfolio of primarily North American high-yield corporate bonds.
Marret Strategic Yield Fund has investment objective to generate income and long-term capital appreciation by investing in a diversified portfolio of debt and income-oriented equity securities throughout the world.
“The funds are well suited for today’s environment, offering a high level of flexibility to find investment opportunities worldwide, as well as to protect against risks,” says Barry Allan, Marret’s president and chief investment officer. “In particular, the funds are good choices for investors who want to guard against the adverse impact that an increase in interest rates may have on fixed-income securities.”
Allan is lead portfolio manager of the three funds. He has over 30 years of investment experience in all areas of the fixed-income arena. Prior to founding Marret in 2001, Allan worked at Altamira Management, where he managed a wide variety of fixed-income mandates and held secondary responsibilities on several equity and balanced mandates. He holds an MBA from the University of Arizona.
Co-manager of Marret Short Duration High Yield Fund and Marret High Yield Bond Fund is Adrian Prenc, who has 12 years of investment experience, holds the CFA designation and specializes in corporate debt and other high-yield securities.
Margot Naudie is co-manager of Marret Strategic Yield Fund. She has 23 years of investment experience, including positions as senior portfolio manager on the global corporate securities team at Canadian Pension Plan Investment Board and as a managing director at TD Asset Management, where she managed North American equity portfolios. Naudie holds the CFA designation and has been named a Brendan Wood TopGun from 2009-2013.