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.

About the Author
Morningstar Canada, a subsidiary of Morningstar Inc., is a leading provider of independent investment research and data. We provide extensive reporting, analysis and commentary on investments and personal finance. The editorial team can be reached at with your comments and questions, but we cannot provide personal advice.

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.

Don’t miss out on communications from Morningstar Canada! Sign up for our specialised newsletters, get early notice of our events, and get access to exclusive promotional content. Manage your subscriptions here.
Video Reports
Click here to view all