CI Investments makes PM changes

Toronto-based CI Investments Inc. has announced portfolio-management changes to two funds: CI Canadian Small/Mid Cap Fund and Red Sky Canadian Equity Corporate Class Fund. Toronto-based Manulife Asset Management Ltd. and Calgary-based QV Investors Inc. have been named subadvisors to CI Canadian Small/Mid Cap Fund, which focuses on small- and mid-capitalization North American companies. The portfolio manager of the Manulife portion of the portfolio will be Ted Whitehead, senior managing director and senior portfolio manager with Manulife. Portfolio managers of the QV portion of the portfolio will be Joe Jugovic, president, CEO and chief investment officer, and Ian Cooke, vice president and portfolio manager with QV Investors. Toronto-based Picton Mahoney Asset Management will continue as a subadvisor to the CI fund, with David Picton, president and portfolio manager, and James Lawson, portfolio manager, continuing as portfolio managers. Toronto-based Cambridge Global Asset Management, a division of CI, has been named portfolio advisor to Red Sky Canadian Equity Corporate Class Fund, with Brandon Snow as lead portfolio manager. Snow also is portfolio manager of Cambridge Canadian Equity Corporate Class Fund. The appointments are being made to replace Toronto-based Red Sky Capital Management Ltd., which has resigned as subadvisor to both funds following a decision by Timothy Lazaris, the firm’s president and CEO, not to manage these mutual funds anymore.

(cohara@investmentexecutive.com).