Dividend Opportunities
Outperformance with less volatility: Historically, companies
that pay dividends, and in particular companies that grow
their dividends over time, outperform companies that do
not pay out dividends. A study done by Ned Davis Research
Group has found that from January 31, 1972 to December
31, 2015, companies listed on the S&P 500 Index classified
as “dividend growers” had annualized returns of almost
10% vs. less than 3% for non-dividend payers. In addition,
the standard deviation or volatility of returns of stocks that
increased or initiated dividends was approximately 35%
less than the non-payers’ returns. Higher returns with less
volatility is an appealing combination!
Inflation protection: Unlike bond payments, dividends have
the ability to grow, leading to higher incomes that keep
investors ahead of inflation. Cash levels on corporate
balance sheets are at high levels. This indicates that
potential for dividends to grow in the foreseeable future,
thereby offering a great source of inflation protection.
Investors also benefit from:
n Access to pure Canadian and global mandates
n Active management and sector allocation
n A focus on dividend growth, not just dividend yield
n Income strategies as well as growth mandates.
For more information on CI’s Dividend Solutions, please contact your
CI Sales Representative or visit www.ci.com.
CI’s dividend solutions meet a variety of investor needs.
Who should invest in these funds?
n
Investors seeking income. As our population ages,
the demand for income will continue to rise.
Since dividend income has the capability of
growing over time, it can offset the effects of
inflation for retirees.
n
Risk-averse investors who seek growth. Dividends
contribute significantly to equity returns over time.
Dividend-paying stocks offer the potential for equity
market growth, while the dividends mitigate losses in
declining markets.
CI Dividend Solutions
FOR ADVISOR USE ONLY – NOT FOR DISTRIBUTION TO CLIENTS
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the
prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
®CI Investments, the CI Investments design and Cambridge are registered trademarks of CI Investments Inc. ™ Signature Global Asset
Management and Signature Funds are trademarks of CI Investments Inc. Cambridge Global Asset Management is a business name of
CI Investments Inc. used in connection with its subsidiary, CI Global Investments Inc. Certain portfolio managers of Cambridge Global Asset
Management are registered with CI Investments Inc. Published June 2016.
2 Queen Street East, Twentieth Floor, Toronto, Ontario M5C 3G7 I www.ci.com
Head Office / Toronto
416-364-1145
1-800-268-9374
Calgary
403-205-4396
1-800-776-9027
Montreal
514-875-0090
1-800-268-1602
Vancouver
604-681-3346
1-800-665-6994
Client Services
English: 1-800-563-5181
French: 1-800-668-3528
1605-0965_E (06/16)
1605-0965_CI-DividendSolutionsUpdate-E.indd 1-3
2016-06-30 1:54 PM
Cambridge Canadian
Dividend Fund
Fund
About the fund
Seeks a predictable stream of
income and modest, long-term
capital appreciation by investing
in an actively managed portfolio of
primarily Canadian stocks.
Dividend Opportunities
Asset or sector allocation
(typical long-term mix)
Why dividend funds are a compelling choice:
Over the past decade, yields on traditional income products
have remained at historically low levels while volatility in
equity markets persists. This has left investors in search of
alternative, low-risk sources of income.
Cambridge U.S. Dividend Fund*
Cambridge Global Dividend Fund
CI Canadian Dividend Fund
Signature Dividend Fund
Seeks modest long-term capital
appreciation and dividend income by
investing in an actively managed portfolio
of primarily U.S. equities.
Seeks a high level of total investment
return, consisting of dividend income
and capital gains, by investing in
equity securities of companies
anywhere in the world that pay, or
may be expected to pay, dividends.
Achieves a balance between high
dividend income and capital growth
by investing mainly in a diversified
portfolio of Canadian common stocks
that are paying a dividend and, to a
lesser extent, in high-yield preferred
shares and interest-bearing securities.
Generates a high level of dividend
income while preserving capital by
investing in preferred shares and
dividend-paying common shares of
Canadian companies.
Telecom
Cash
Consumer
discretionary
Yield: Today, equities are yielding more than bonds
(see chart).
Energy
IT
Materials
Health care
Reasonable valuations: Stock valuations are attractive in
comparison to bonds.
Industrials
Utilities
DIVIDEND VS. BOND YIELDS
•
•
18
•
16
14
12
•
10
Common equities
Financials
$0.02
$0.02
$0.08**
•
•
•
•
Designed to provide a predictable
stream of income and modest long-term
capital appreciation.
Managed with a focus on sustainable
dividend growth over absolute yield.
Business model characteristics, company
managment, earnings growth, capital
allocation, and valuation are all strongly
considered factors in stock selection.
Active currency management.
•
•
•
•
Up to 30% exposure to the U.S. for
greater diversification.
Focuses on companies that are able to
grow their dividend over time.
Income paid quarterly.
Active currency hedging.
•
•
•
•
**This is the approximate distribution
and is paid quarterly.
•
6
2
2.20
0
1955
1960
1965
1970
1975
1980
S&P/TSX Composite Index Dividend Yield (
1985
)
1990
1995
2000
Canada Long Bond Yield (
2005
2010
Fund codes (CIG)
2015
(all funds available in Class F)
)
F/E
LL
F/E
Trust
11112 11162 11462
Trust
Corporate Class
2642
Corporate Class
3642
N/A
DSC
LL
11113 11163 11463
N/A
N/A
N/A
F/E
DSC
LL
Trust
2639
3639
1639
Trust
Corporate Class
2589
3589
1589
Corporate Class
Financials
F/E
DSC
11114 11164 11464
N/A
N/A
N/A
$0.02
Tax-advantaged monthly distribution.
Significantly lower volatility than overall
equity markets.
Diversified portfolio focused on
companies with above-average and
growing earnings yields.
Earnings yield is defined as a company’s
earnings per share divided by share price.
Manager emphasizes growth and
sustainability of dividends over absolute yield.
Active currency hedging strategy is
a key element in managing risk and
enhancing return.
LL
Signature Global
Asset Management
John Shaw
F/E
DSC
LL
Trust
610
810
1810
Corporate Class
2305
3305 1305
•
•
•
•
$0.025
Diversified portfolio focused on
companies with above-average and
growing earnings yields.
Earnings yield is defined as a company’s
earnings per share divided by share price.
Manager emphasizes growth and
sustainability of dividends over
absolute yield.
Active currency hedging strategy is
a key element in managing risk and
enhancing return.
•
•
•
F/E
DSC
LL
Trust
578
878
1778
Corporate Class
2578
3578
1578
A diversified portfolio of primarily
Canadian preferred shares, with
some U.S. preferred shares and
corporate bonds.
Draws on Signature’s strong credit
team, in-depth sector knowledge,
and experienced preferred share
management.
Overall credit quality of P2 or higher.
F/E
DSC
LL
Trust
2346
3346
1346
Corporate Class
N/A
N/A
N/A
*Also available as Cambridge U.S. Dividend
Registered Fund for improved tax efficiency in
certain registered accounts. And available as
Cambridge U.S. Dividend US$ Fund for 100%
U.S. dollar currency exposure.
Average yield of Government of Canada bonds with at least 10 years to maturity
Source: TD Securities
All funds also available in PIM:
1605-0965_CI-DividendSolutionsUpdate-E.indd 4-6
DSC
Consumer
staples
Telecom
$0.04
•
3.17
Telecom
Industrials
Signature Global Asset Management Signature Global Asset Management
John Shaw, John Hadwen,
John Shaw, John Hadwen,
Eric Bushell
Eric Bushell
8
4
Consumer staples
Energy
Health care
$0.03
•
Financials
Utilities
Financials
A diversified portfolio of primarily U.S.
dividend-paying stocks.
Managed with a focus on sustainable
dividend growth over absolute yield.
Business model characteristics, company
management, earnings growth, capital
allocation, and valuation are all strongly
considered factors in stock selection.
Utilities
Cash
Tetrem Capital Management
Alec MacIsaac, Daniel Bubis
•
Preferred equities
Energy
Cambridge Global
Asset Management
Stephen Groff
•
Seeks strong risk-adjusted
returns by investing primarily in a
diversified portfolio of preferred
shares from both Canadian and
foreign issuers.
Industrials
Consumer
staples
Cambridge Global
Asset Management
Stephen Groff
A diversified portfolio of primarily
Canadian dividend-paying stocks.
Managed with a focus on sustainable
dividend growth over absolute yield.
Business model characteristics, company
management, earnings growth, capital
allocation, and valuation are all strongly
considered factors in stock selection.
Active currency management.
Seeks a high total investment return
by investing in equity securities of
companies anywhere in the world
that pay, or may be expected to pay,
dividends, as well as in other types
of securities that may be expected to
distribute income.
Consumer
discretionary
Materials
Technology
Energy
Cash
IT
Health
Care
Cambridge Global
Asset Management
Stephen Groff
Monthly distribution per unit
Main benefits
Materials
Signature Preferred Share Pool
Consumer
discretionary
Energy
Healthcare
Financials
Energy
Investment manager
Consumer
discretionary
Consumer staples
Telecom Cash
Consumer
staples
Cash
Materials
A great solution for these investors is dividend funds, which
offer both income and the potential for growth, but with
more stability than other equity investments. CI’s dividend
funds invest in companies with above-average dividend yields
and the potential for dividend growth, at attractive valuations.
Utilities
Industrials
Financials
Industrials
Telecom
Consumer
IT Materials
discretionary
Signature Global Dividend Fund
Class O/E/EF
Class O/E/EF
Class O/E/EF (also available in T-Class)
Class O/E/EF
Class O/E/EF (also available in T-Class)
Class O/E/EF (also available in T-Class)
Class O/E/EF
2016-06-30 1:54 PM
Dividend Opportunities
Outperformance with less volatility: Historically, companies
that pay dividends, and in particular companies that grow
their dividends over time, outperform companies that do
not pay out dividends. A study done by Ned Davis Research
Group has found that from January 31, 1972 to December
31, 2015, companies listed on the S&P 500 Index classified
as “dividend growers” had annualized returns of almost
10% vs. less than 3% for non-dividend payers. In addition,
the standard deviation or volatility of returns of stocks that
increased or initiated dividends was approximately 35%
less than the non-payers’ returns. Higher returns with less
volatility is an appealing combination!
Inflation protection: Unlike bond payments, dividends have
the ability to grow, leading to higher incomes that keep
investors ahead of inflation. Cash levels on corporate
balance sheets are at high levels. This indicates that
potential for dividends to grow in the foreseeable future,
thereby offering a great source of inflation protection.
Investors also benefit from:
n Access to pure Canadian and global mandates
n Active management and sector allocation
n A focus on dividend growth, not just dividend yield
n Income strategies as well as growth mandates.
For more information on CI’s Dividend Solutions, please contact your
CI Sales Representative or visit www.ci.com.
CI’s dividend solutions meet a variety of investor needs.
Who should invest in these funds?
n
Investors seeking income. As our population ages,
the demand for income will continue to rise.
Since dividend income has the capability of
growing over time, it can offset the effects of
inflation for retirees.
n
Risk-averse investors who seek growth. Dividends
contribute significantly to equity returns over time.
Dividend-paying stocks offer the potential for equity
market growth, while the dividends mitigate losses in
declining markets.
CI Dividend Solutions
FOR ADVISOR USE ONLY – NOT FOR DISTRIBUTION TO CLIENTS
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the
prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
®CI Investments, the CI Investments design and Cambridge are registered trademarks of CI Investments Inc. ™ Signature Global Asset
Management and Signature Funds are trademarks of CI Investments Inc. Cambridge Global Asset Management is a business name of
CI Investments Inc. used in connection with its subsidiary, CI Global Investments Inc. Certain portfolio managers of Cambridge Global Asset
Management are registered with CI Investments Inc. Published June 2016.
2 Queen Street East, Twentieth Floor, Toronto, Ontario M5C 3G7 I www.ci.com
Head Office / Toronto
416-364-1145
1-800-268-9374
Calgary
403-205-4396
1-800-776-9027
Montreal
514-875-0090
1-800-268-1602
Vancouver
604-681-3346
1-800-665-6994
Client Services
English: 1-800-563-5181
French: 1-800-668-3528
1605-0965_E (06/16)
1605-0965_CI-DividendSolutionsUpdate-E.indd 1-3
2016-06-30 1:54 PM
Cambridge Canadian
Dividend Fund
Fund
About the fund
Seeks a predictable stream of
income and modest, long-term
capital appreciation by investing
in an actively managed portfolio of
primarily Canadian stocks.
Dividend Opportunities
Asset or sector allocation
(typical long-term mix)
Why dividend funds are a compelling choice:
Over the past decade, yields on traditional income products
have remained at historically low levels while volatility in
equity markets persists. This has left investors in search of
alternative, low-risk sources of income.
Cambridge U.S. Dividend Fund*
Cambridge Global Dividend Fund
CI Canadian Dividend Fund
Signature Dividend Fund
Seeks modest long-term capital
appreciation and dividend income by
investing in an actively managed portfolio
of primarily U.S. equities.
Seeks a high level of total investment
return, consisting of dividend income
and capital gains, by investing in
equity securities of companies
anywhere in the world that pay, or
may be expected to pay, dividends.
Achieves a balance between high
dividend income and capital growth
by investing mainly in a diversified
portfolio of Canadian common stocks
that are paying a dividend and, to a
lesser extent, in high-yield preferred
shares and interest-bearing securities.
Generates a high level of dividend
income while preserving capital by
investing in preferred shares and
dividend-paying common shares of
Canadian companies.
Telecom
Cash
Consumer
discretionary
Yield: Today, equities are yielding more than bonds
(see chart).
Energy
IT
Materials
Health care
Reasonable valuations: Stock valuations are attractive in
comparison to bonds.
Industrials
Utilities
DIVIDEND VS. BOND YIELDS
•
•
18
•
16
14
12
•
10
Common equities
Financials
$0.02
$0.02
$0.08**
•
•
•
•
Designed to provide a predictable
stream of income and modest long-term
capital appreciation.
Managed with a focus on sustainable
dividend growth over absolute yield.
Business model characteristics, company
managment, earnings growth, capital
allocation, and valuation are all strongly
considered factors in stock selection.
Active currency management.
•
•
•
•
Up to 30% exposure to the U.S. for
greater diversification.
Focuses on companies that are able to
grow their dividend over time.
Income paid quarterly.
Active currency hedging.
•
•
•
•
**This is the approximate distribution
and is paid quarterly.
•
6
2
2.20
0
1955
1960
1965
1970
1975
1980
S&P/TSX Composite Index Dividend Yield (
1985
)
1990
1995
2000
Canada Long Bond Yield (
2005
2010
Fund codes (CIG)
2015
(all funds available in Class F)
)
F/E
LL
F/E
Trust
11112 11162 11462
Trust
Corporate Class
2642
Corporate Class
3642
N/A
DSC
LL
11113 11163 11463
N/A
N/A
N/A
F/E
DSC
LL
Trust
2639
3639
1639
Trust
Corporate Class
2589
3589
1589
Corporate Class
Financials
F/E
DSC
11114 11164 11464
N/A
N/A
N/A
$0.02
Tax-advantaged monthly distribution.
Significantly lower volatility than overall
equity markets.
Diversified portfolio focused on
companies with above-average and
growing earnings yields.
Earnings yield is defined as a company’s
earnings per share divided by share price.
Manager emphasizes growth and
sustainability of dividends over absolute yield.
Active currency hedging strategy is
a key element in managing risk and
enhancing return.
LL
Signature Global
Asset Management
John Shaw
F/E
DSC
LL
Trust
610
810
1810
Corporate Class
2305
3305 1305
•
•
•
•
$0.025
Diversified portfolio focused on
companies with above-average and
growing earnings yields.
Earnings yield is defined as a company’s
earnings per share divided by share price.
Manager emphasizes growth and
sustainability of dividends over
absolute yield.
Active currency hedging strategy is
a key element in managing risk and
enhancing return.
•
•
•
F/E
DSC
LL
Trust
578
878
1778
Corporate Class
2578
3578
1578
A diversified portfolio of primarily
Canadian preferred shares, with
some U.S. preferred shares and
corporate bonds.
Draws on Signature’s strong credit
team, in-depth sector knowledge,
and experienced preferred share
management.
Overall credit quality of P2 or higher.
F/E
DSC
LL
Trust
2346
3346
1346
Corporate Class
N/A
N/A
N/A
*Also available as Cambridge U.S. Dividend
Registered Fund for improved tax efficiency in
certain registered accounts. And available as
Cambridge U.S. Dividend US$ Fund for 100%
U.S. dollar currency exposure.
Average yield of Government of Canada bonds with at least 10 years to maturity
Source: TD Securities
All funds also available in PIM:
1605-0965_CI-DividendSolutionsUpdate-E.indd 4-6
DSC
Consumer
staples
Telecom
$0.04
•
3.17
Telecom
Industrials
Signature Global Asset Management Signature Global Asset Management
John Shaw, John Hadwen,
John Shaw, John Hadwen,
Eric Bushell
Eric Bushell
8
4
Consumer staples
Energy
Health care
$0.03
•
Financials
Utilities
Financials
A diversified portfolio of primarily U.S.
dividend-paying stocks.
Managed with a focus on sustainable
dividend growth over absolute yield.
Business model characteristics, company
management, earnings growth, capital
allocation, and valuation are all strongly
considered factors in stock selection.
Utilities
Cash
Tetrem Capital Management
Alec MacIsaac, Daniel Bubis
•
Preferred equities
Energy
Cambridge Global
Asset Management
Stephen Groff
•
Seeks strong risk-adjusted
returns by investing primarily in a
diversified portfolio of preferred
shares from both Canadian and
foreign issuers.
Industrials
Consumer
staples
Cambridge Global
Asset Management
Stephen Groff
A diversified portfolio of primarily
Canadian dividend-paying stocks.
Managed with a focus on sustainable
dividend growth over absolute yield.
Business model characteristics, company
management, earnings growth, capital
allocation, and valuation are all strongly
considered factors in stock selection.
Active currency management.
Seeks a high total investment return
by investing in equity securities of
companies anywhere in the world
that pay, or may be expected to pay,
dividends, as well as in other types
of securities that may be expected to
distribute income.
Consumer
discretionary
Materials
Technology
Energy
Cash
IT
Health
Care
Cambridge Global
Asset Management
Stephen Groff
Monthly distribution per unit
Main benefits
Materials
Signature Preferred Share Pool
Consumer
discretionary
Energy
Healthcare
Financials
Energy
Investment manager
Consumer
discretionary
Consumer staples
Telecom Cash
Consumer
staples
Cash
Materials
A great solution for these investors is dividend funds, which
offer both income and the potential for growth, but with
more stability than other equity investments. CI’s dividend
funds invest in companies with above-average dividend yields
and the potential for dividend growth, at attractive valuations.
Utilities
Industrials
Financials
Industrials
Telecom
Consumer
IT Materials
discretionary
Signature Global Dividend Fund
Class O/E/EF
Class O/E/EF
Class O/E/EF (also available in T-Class)
Class O/E/EF
Class O/E/EF (also available in T-Class)
Class O/E/EF (also available in T-Class)
Class O/E/EF
2016-06-30 1:54 PM
Cambridge Canadian
Dividend Fund
Fund
About the fund
Seeks a predictable stream of
income and modest, long-term
capital appreciation by investing
in an actively managed portfolio of
primarily Canadian stocks.
Dividend Opportunities
Asset or sector allocation
(typical long-term mix)
Why dividend funds are a compelling choice:
Over the past decade, yields on traditional income products
have remained at historically low levels while volatility in
equity markets persists. This has left investors in search of
alternative, low-risk sources of income.
Cambridge U.S. Dividend Fund*
Cambridge Global Dividend Fund
CI Canadian Dividend Fund
Signature Dividend Fund
Seeks modest long-term capital
appreciation and dividend income by
investing in an actively managed portfolio
of primarily U.S. equities.
Seeks a high level of total investment
return, consisting of dividend income
and capital gains, by investing in
equity securities of companies
anywhere in the world that pay, or
may be expected to pay, dividends.
Achieves a balance between high
dividend income and capital growth
by investing mainly in a diversified
portfolio of Canadian common stocks
that are paying a dividend and, to a
lesser extent, in high-yield preferred
shares and interest-bearing securities.
Generates a high level of dividend
income while preserving capital by
investing in preferred shares and
dividend-paying common shares of
Canadian companies.
Telecom
Cash
Consumer
discretionary
Yield: Today, equities are yielding more than bonds
(see chart).
Energy
IT
Materials
Health care
Reasonable valuations: Stock valuations are attractive in
comparison to bonds.
Industrials
Utilities
DIVIDEND VS. BOND YIELDS
•
•
18
•
16
14
12
•
10
Common equities
Financials
$0.02
$0.02
$0.08**
•
•
•
•
Designed to provide a predictable
stream of income and modest long-term
capital appreciation.
Managed with a focus on sustainable
dividend growth over absolute yield.
Business model characteristics, company
managment, earnings growth, capital
allocation, and valuation are all strongly
considered factors in stock selection.
Active currency management.
•
•
•
•
Up to 30% exposure to the U.S. for
greater diversification.
Focuses on companies that are able to
grow their dividend over time.
Income paid quarterly.
Active currency hedging.
•
•
•
•
**This is the approximate distribution
and is paid quarterly.
•
6
2
2.20
0
1955
1960
1965
1970
1975
1980
S&P/TSX Composite Index Dividend Yield (
1985
)
1990
1995
2000
Canada Long Bond Yield (
2005
2010
Fund codes (CIG)
2015
(all funds available in Class F)
)
F/E
LL
F/E
Trust
11112 11162 11462
Trust
Corporate Class
2642
Corporate Class
3642
N/A
DSC
LL
11113 11163 11463
N/A
N/A
N/A
F/E
DSC
LL
Trust
2639
3639
1639
Trust
Corporate Class
2589
3589
1589
Corporate Class
Financials
F/E
DSC
11114 11164 11464
N/A
N/A
N/A
$0.02
Tax-advantaged monthly distribution.
Significantly lower volatility than overall
equity markets.
Diversified portfolio focused on
companies with above-average and
growing earnings yields.
Earnings yield is defined as a company’s
earnings per share divided by share price.
Manager emphasizes growth and
sustainability of dividends over absolute yield.
Active currency hedging strategy is
a key element in managing risk and
enhancing return.
LL
Signature Global
Asset Management
John Shaw
F/E
DSC
LL
Trust
610
810
1810
Corporate Class
2305
3305 1305
•
•
•
•
$0.025
Diversified portfolio focused on
companies with above-average and
growing earnings yields.
Earnings yield is defined as a company’s
earnings per share divided by share price.
Manager emphasizes growth and
sustainability of dividends over
absolute yield.
Active currency hedging strategy is
a key element in managing risk and
enhancing return.
•
•
•
F/E
DSC
LL
Trust
578
878
1778
Corporate Class
2578
3578
1578
A diversified portfolio of primarily
Canadian preferred shares, with
some U.S. preferred shares and
corporate bonds.
Draws on Signature’s strong credit
team, in-depth sector knowledge,
and experienced preferred share
management.
Overall credit quality of P2 or higher.
F/E
DSC
LL
Trust
2346
3346
1346
Corporate Class
N/A
N/A
N/A
*Also available as Cambridge U.S. Dividend
Registered Fund for improved tax efficiency in
certain registered accounts. And available as
Cambridge U.S. Dividend US$ Fund for 100%
U.S. dollar currency exposure.
Average yield of Government of Canada bonds with at least 10 years to maturity
Source: TD Securities
All funds also available in PIM:
1605-0965_CI-DividendSolutionsUpdate-E.indd 4-6
DSC
Consumer
staples
Telecom
$0.04
•
3.17
Telecom
Industrials
Signature Global Asset Management Signature Global Asset Management
John Shaw, John Hadwen,
John Shaw, John Hadwen,
Eric Bushell
Eric Bushell
8
4
Consumer staples
Energy
Health care
$0.03
•
Financials
Utilities
Financials
A diversified portfolio of primarily U.S.
dividend-paying stocks.
Managed with a focus on sustainable
dividend growth over absolute yield.
Business model characteristics, company
management, earnings growth, capital
allocation, and valuation are all strongly
considered factors in stock selection.
Utilities
Cash
Tetrem Capital Management
Alec MacIsaac, Daniel Bubis
•
Preferred equities
Energy
Cambridge Global
Asset Management
Stephen Groff
•
Seeks strong risk-adjusted
returns by investing primarily in a
diversified portfolio of preferred
shares from both Canadian and
foreign issuers.
Industrials
Consumer
staples
Cambridge Global
Asset Management
Stephen Groff
A diversified portfolio of primarily
Canadian dividend-paying stocks.
Managed with a focus on sustainable
dividend growth over absolute yield.
Business model characteristics, company
management, earnings growth, capital
allocation, and valuation are all strongly
considered factors in stock selection.
Active currency management.
Seeks a high total investment return
by investing in equity securities of
companies anywhere in the world
that pay, or may be expected to pay,
dividends, as well as in other types
of securities that may be expected to
distribute income.
Consumer
discretionary
Materials
Technology
Energy
Cash
IT
Health
Care
Cambridge Global
Asset Management
Stephen Groff
Monthly distribution per unit
Main benefits
Materials
Signature Preferred Share Pool
Consumer
discretionary
Energy
Healthcare
Financials
Energy
Investment manager
Consumer
discretionary
Consumer staples
Telecom Cash
Consumer
staples
Cash
Materials
A great solution for these investors is dividend funds, which
offer both income and the potential for growth, but with
more stability than other equity investments. CI’s dividend
funds invest in companies with above-average dividend yields
and the potential for dividend growth, at attractive valuations.
Utilities
Industrials
Financials
Industrials
Telecom
Consumer
IT Materials
discretionary
Signature Global Dividend Fund
Class O/E/EF
Class O/E/EF
Class O/E/EF (also available in T-Class)
Class O/E/EF
Class O/E/EF (also available in T-Class)
Class O/E/EF (also available in T-Class)
Class O/E/EF
2016-06-30 1:54 PM
Dividend Opportunities
Outperformance with less volatility: Historically, companies
that pay dividends, and in particular companies that grow
their dividends over time, outperform companies that do
not pay out dividends. A study done by Ned Davis Research
Group has found that from January 31, 1972 to December
31, 2015, companies listed on the S&P 500 Index classified
as “dividend growers” had annualized returns of almost
10% vs. less than 3% for non-dividend payers. In addition,
the standard deviation or volatility of returns of stocks that
increased or initiated dividends was approximately 35%
less than the non-payers’ returns. Higher returns with less
volatility is an appealing combination!
Inflation protection: Unlike bond payments, dividends have
the ability to grow, leading to higher incomes that keep
investors ahead of inflation. Cash levels on corporate
balance sheets are at high levels. This indicates that
potential for dividends to grow in the foreseeable future,
thereby offering a great source of inflation protection.
Investors also benefit from:
n Access to pure Canadian and global mandates
n Active management and sector allocation
n A focus on dividend growth, not just dividend yield
n Income strategies as well as growth mandates.
For more information on CI’s Dividend Solutions, please contact your
CI Sales Representative or visit www.ci.com.
CI’s dividend solutions meet a variety of investor needs.
Who should invest in these funds?
n
Investors seeking income. As our population ages,
the demand for income will continue to rise.
Since dividend income has the capability of
growing over time, it can offset the effects of
inflation for retirees.
n
Risk-averse investors who seek growth. Dividends
contribute significantly to equity returns over time.
Dividend-paying stocks offer the potential for equity
market growth, while the dividends mitigate losses in
declining markets.
CI Dividend Solutions
FOR ADVISOR USE ONLY – NOT FOR DISTRIBUTION TO CLIENTS
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the
prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
®CI Investments, the CI Investments design and Cambridge are registered trademarks of CI Investments Inc. ™ Signature Global Asset
Management and Signature Funds are trademarks of CI Investments Inc. Cambridge Global Asset Management is a business name of
CI Investments Inc. used in connection with its subsidiary, CI Global Investments Inc. Certain portfolio managers of Cambridge Global Asset
Management are registered with CI Investments Inc. Published June 2016.
2 Queen Street East, Twentieth Floor, Toronto, Ontario M5C 3G7 I www.ci.com
Head Office / Toronto
416-364-1145
1-800-268-9374
Calgary
403-205-4396
1-800-776-9027
Montreal
514-875-0090
1-800-268-1602
Vancouver
604-681-3346
1-800-665-6994
Client Services
English: 1-800-563-5181
French: 1-800-668-3528
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