This is a high income fund from the CI organization. It is managed by the company’s Signature Group and run by the troika of Geof Marshall, Ryan Fitzgerald, and Joe D’Angelo. Right now it too is in a defensive mode, with only 40% of the portfolio exposed to the stock market (mostly U.S. and international), 47% in bonds (mainly foreign corporate issues), and the rest in cash.
Income Investor
Recent performance numbers are not great with a one-year loss of 1.6% to Sept. 30 and a year-to-date decline of 1.8% - this despite a lower MER of 1.6%. The three-year average annual compound rate of return is 5.9%. The plus side for income investors is a high monthly payout of $0.07 per unit ($0.84 per year) for a yield of about 6% based on the Oct. 16 closing price. However, that has been offset by an eroding net asset value, which fell from $15.04 to $14.13 in the 12 months to Sept. 25/15. - Gordon Pape
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