CI Investments Inc. today announced the launch of a new series of notes that allows investors to diversify into global markets with the added benefit of an accelerated return feature.
The Harbour Foreign Equity EARNS (Enhanced Accelerated Return Note Securities), series 1, are issued by National Bank of Canada and provide exposure to the returns of a portfolio consisting of Class F shares of Harbour Foreign Equity Corporate Class, a global equity fund offered by CI Investments.
The fund’s portfolio is managed by Harbour Advisors, led by Gerry Coleman and Stephen Jenkins. Coleman has over 35 years of investment experience, Jenkins has over 16 years of investment experience and holds the CFA designation. In total, Harbour Advisors manages $10 billion on behalf of CI.
The accelerated return feature of the new notes provides investors with 150% of any positive return of the portfolio at the maturity of the note securities, but only 100% of any negative performance. CI says this feature allows investors to enjoy the benefits of leverage without the corresponding downside of actually leveraging their investment.
The notes have an eight-year term to maturity and are not principal protected.
Harbour Foreign Equity EARNS, series 1, are available for sale until February 28, through registered dealer representatives, and are eligible for registered plans. The minimum purchase is $5,000.
CI launches new note with global exposure
Harbour Foreign Equity EARNS feature accelerated positive return feature
- By: IE Staff
- January 24, 2007 January 24, 2007
- 09:55