In April, it was announced that Ryan Fitzgerald, co-manager of the fund had moved over to the Harbour Team, where he was appointed lead manager of the CI Harbour Fund, CI Harbour Global Equity, and CI Harbour Voyageur.
A manager change is a significant event that often leads to a fund being removed from the Recommended List. In this case however, the fund will remain on the list. There are a couple of reasons for this.
First, the replacement is Eric Bushell, who is the CIO of the Signature Group, and is very well versed in the Signature house process, given that he was instrumental in its development.
Second, Mr. Bushell has managed this fund on a couple of other occasions, so is extremely familiar with it.
Third, given the size of the team, and the team approach used by the Signature group, this departure is less impactful than it would be with a less well-resourced team.
Combined, these factors lead us to remain very comfortable with the CI Signature High In-come Fund as a well-managed, global balanced fund offering for the long-term.