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CI adds new funds aimed at retiring investors

By The IJ Staff | February 06 2020 02:15PM

Photo: Freepik

CI Financial Corp. has announced a sub-advisory relationship with DoubleLine Capital LP to help modernize its asset management business and expand its wealth management platform through fixed-income solutions.

With the agreement, founder Jeffrey Gundlach’s DoubleLine will manage new mandates to be offered by CI and be included within CI's lineup of fixed-income mutual funds and exchange-traded funds.

Growing need for high-quality income solutions

"Canadian investors have a growing need for high-quality income solutions as increasing numbers prepare for and begin retirement or seek a higher level of protection against potential market volatility,” said CI chief executive officer Kurt MacAlpine. “Jeffrey Gundlach and DoubleLine have established a global reputation as outstanding income investors due to their consistent exceptional performance over time, and their expertise and mandates will further enhance CI's extensive income lineup."

Gundlach founded Los Angeles-based DoubleLine in 2009. Just 10 years later, the firm manages more than US$150 billion in assets.

In keeping with CI’s new strategic direction

CI announced a new strategic direction in November 2019 with a focus on three corporate priorities − modernizing its asset management business, expanding its wealth management platform and globalizing the firm. "CI is currently a leader in fixed income in Canada, managing over C$40 billion in this asset class. Our partnership with DoubleLine will strengthen this position and deliver globally leading expertise to our clients that was unavailable before this partnership,” said MacAlpine.

Income strategies currently offered by DoubleLine in the U.S. market include:

  • Its flagship Total Return Bond Fund™, focusing on structured products and exploiting inefficiencies within the subsectors of the mortgage-backed securities and asset-backed securities markets and other structured products.
  • DoubleLine's Core Plus Fixed Income Fund™, which offers active asset allocation across fixed-income sectors.
  • DoubleLine's Income Fund™, which prioritizes a high level of current income and capital appreciation from debt securities and other income-producing investments worldwide.
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