CI Global Asset Management (CMIG, CMIG.U) Closes the Market

What happened

CI Global Asset Management and Munro Partners joined Graham MacKenzie of the Toronto Stock Exchange to close the market and celebrate the launch of the CI Munro International Growth Equity Fund, trading under the ticker CMIG.U.

Confirmed

Global impact / market context

The fund gives investors an actively managed way to hold growth companies located mainly outside Canada and the United States, which means Canadian savers can add international exposure without picking foreign stocks themselves. It also expands CI's partnership with Munro.

Analyst inference

The launch adds to the CI Munro lineup and broadens the global growth products available to investors. Offering Canadian-dollar and U.S.-dollar hedged series lets buyers choose a currency version, which means currency swings are handled within the fund rather than by the investor.

Analyst inference

What to watch

1. The fund is actively managed and seeks companies benefiting from long-term structural changes, so its holdings and results will reflect Munro Partners' global growth investment approach rather than a fixed index. Confirmed
2. CI GAM says the launch strengthens its partnership with Munro Partners and broadens its range of global growth solutions, so further joint products from the two firms are a possibility to watch. Proposed
3. Because the fund focuses on growth companies outside Canada and the United States, its returns will depend heavily on foreign stock markets and on how well Munro's stock picks perform. Analyst inference

Evidence

• newsfilecorp.com