CI shuffles subadvisers

CI Investments hired Altrinsic Global Advisors as subadviser of its C$276 million ($207 million) CI Signature International Corporate Class and C$69 million CI Signature International Fund, the company announced in a news release.

The changes will be effective April 15, at which time the funds will be renamed the CI International Corporate Class and CI International Fund, respectively.

Altrinsic is subadviser to the C$53 million CI International Value Fund. The addition of Altrinsic as subadviser of two more funds is “part of CI's efforts to streamline its fund lineup,” the news release said. It could not be learned what manager Altrinsic replaced.

CI Investments also named Cambridge Global Asset Management, a division of CI Investments, as portfolio manager of the C$661 million U.S. Equity Alpha Corporate Class, which the company said in the news release “is part of the Evolution private managed accounts and other managed solutions offered by CI through advisers with Assante Wealth Management and Stonegate Private Counsel.” Cambridge replaces Tetrem Capital Management; a reason for the change was not given.

CI also named Cambridge Global Asset Management as portfolio manager for portions of the C$275 million Select U.S. Equity Managed Corporate Class, C$873 million Select U.S. Equity Managed Fund, replacing Tetrem on both, the C$102 million Select International Equity Managed Corporate Class, and C$737 million Select International Equity Managed Fund.

Tetrem continues to subadvise other funds for CI Investments.

CI Investments, a subsidiary of CI Financial Corp., has about C$161 billion in assets under management.

Murray Oxby, CI Investments spokesman, did not return a phone call seeking further information by press time.