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KBSH Capital Management Inc. ("KBSH") and CI Investments Inc. ("CI") today announced that the investment teams of KBSH and Signature Global Advisors are being combined for the purpose of managing KBSH institutional mandates.
Signature Global Advisors is an award-winning investment management team and a division of CI. Signature consists of 22 investment professionals managing approximately $18 billion in a broad range of Canadian and global equity, balanced and fixed-income portfolios.
The combination will enhance the research efforts that support all mandates offered by KBSH, which manages over $2 billion for a variety of institutional clients. KBSH and CI are wholly owned subsidiaries of CI Financial Income Fund.
"This change provides KBSH mandates with the support of one of the largest and best-resourced investment teams in Canada," said Bill Vieira, Chief Executive Officer of KBSH. "Signature's scale provides us with a much deeper research capability, including industry-leading access to information and to the senior management of the largest global issuers.
"There will be no changes to the core KBSH mandates and they will continue to be run by their current portfolio managers," Mr. Vieira said. The portfolio managers remain fully committed to their growth-oriented investment approach and all mandates will continue to be run in accordance with their stated investment policies.
"This move demonstrates our commitment to KBSH, and is an important step in growing our institutional investment management business," said Peter Anderson, Chief Executive Officer of CI Investments.
These changes are effective immediately. Mr. Vieira will continue to oversee all KBSH equity accounts as the firm's Chief Investment Officer, and will be supported by Stephen Carlin on the Canadian mandates. Rui Cardoso will remain portfolio manager of the KBSH U.S. strategies, while contributing to the Signature funds as a health care specialist. Drummond Brodeur, who joined Signature in July 2007 as an EAFE strategist, will be portfolio manager of KBSH's EAFE accounts. Prior to joining Signature, Mr. Brodeur spent 11 years at KBSH as portfolio manager specializing in EAFE mandates. Geoff Hollands will remain portfolio manager of the KBSH fixed-income strategies, while Craig Auwaerter will continue as head of sales and client service.
As part of these changes, several people, including President Doug MacDonald, will be leaving KBSH.
CI Investments Inc. is one of Canada's largest investment managers, offering an industry-leading selection of investment funds. CI is controlled by CI Financial Income Fund (TSX: CIX.UN), an independent, Canadian-owned wealth management firm with approximately $78.9 billion in fee-earning assets as of November 30, 2008. CI is on the Web at www.ci.com.
SOURCE: CI Investments Inc.
SOURCE: CI Financial Income Fund
Murray Oxby, Director, Communications, CI Investments Inc., (416) 364-1145
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