By Morningstar Canada | 05/01/15

CI Investments Inc. today launched CI Cambridge U.S. Dividend Registered, a dividend-paying U.S. equity fund that has received an exemption from the 15% U.S. withholding tax on dividends paid by American companies.

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The withholding-tax exemption requires the fund to be available only to certain registered accounts, including RRSPs and registered retirement income funds (RRIFs).

Managed by Boston-based Cambridge Global Asset Management, a subsidiary of parent company CI Financial Corp. , the fund's strategy is to invest in high-quality, growing companies with sustainable payouts that will rise over time.

The lead manager is Stephen Groff, and chief market strategist Robert Swanson is co-manager. The duo also manages the eight-year-old CI Cambridge U.S. Dividend, which has a similar portfolio and is available to all account types.

Also today, CI launched a new fixed-income fund, CI Investment Grade Bond. It will invest primarily in Canadian, U.S. and European corporate bonds and will pay a monthly distribution. The portfolio advisor is Toronto-based Marret Asset Management Inc., which is 65% owned by CI Financial and specializes in fixed income. The lead portfolio manager is Paul Sandhu.

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