Mutual Fund Updates

Mutual Discovery Fund

Since taking over the reins of this go anywhere global equity fund two years ago, Philippe Brugere-Trelat and Peter Langerman have continued to deliver strong relative results for investors. The team uses a bottom up, value focused security selection process which looks to identify companies that are trading at a discount of between 25% and 30% below their estimate of the company’s true worth. Not only must the companies be trading at a discount, there must also be a near term catalyst which will help to close the valuation gap, bringing gains to investors.

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CI American Value Fund

Managed by the team of Bill Priest and David Pearl, this large cap focused U.S. fund has struggled to keep up with the S&P 500 in the past couple of years. However, long term numbers are very strong, outpacing not only the benchmark but most of the funds peers.

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Tradex Global Equity Fund

This global equity fund is managed by Barry Olliff of the City of London Investment Plc. Mr. Olliff conducts a top down review of the various global markets to determine which have the best potential rate of return. Once this is established, he gains that investment exposure through a mix of closed end funds and exchange traded funds.

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CI Can-Am Small Cap Corporate Class Fund

This fund has been managed by Leigh Pullen and Joe Jugovic of Calgary based QV Investors since December 2005. Since taking the fund over, they have delivered an annual compound rate of return of 3.54% while the BMO Canadian Small Cap Index has returned 1.65%.

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Fidelity Canadian Large Cap Fund

Since taking over the management duties of this fund, Daniel Dupont has not skipped a beat. If anything, the relative risk reward profile appears to have improved, with relative volatility dropping while relative return increased. Obviously seven months is too short a period on which to judge, but the signs are definitely encouraging.

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AGF Monthly High Income Fund

Peter Frost took over the lead manager duties in April of 2010. Mr. Frost is responsible for setting the tactical asset allocation mix of the fund and managing the equity portion of the fund. Tristan Sones and Tom Nakamura are responsible for the fixed income portion.

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