New portfolio sub-advisor for CI funds

The change comes as a result of a shift in business model

CI Investments has appointed Fiera Capital Corporation to sub-advise its G5|20 Series portfolio funds, which are focused on guaranteed cash flows.

Fiera Capital replaces HRS Capital following a change in the latter’s business model, which resulted in the team responsible for the G5|20 funds moving from HRS to Fiera. The team, under the joint leadership of Fiera Capital Senior Portfolio Manager Alexandre Hocquard and Nicolas Papageorgiou, will continue to manage the G5|20 risk management overlay strategy – a responsibility they have borne since November 2014.

The G5|20 Series funds offer 20 years of stable annual cash flows equal to 5% of the investor’s initial investment or the guaranteed asset value, whichever is greater. The Bank of Montreal guarantees the cash flows, which are supported by the risk management overlay strategy through dynamic hedging via exchange-traded derivatives. The strategy protects the portfolios from market downturns while optimizing exposure to benefits from rising markets.

Hocquard brings to the table several years’ worth of quantitative asset management experience in both the traditional and alternative fields, which he acquired from positions held at Paviallion Asset Management and Desjardins Global Asset Management.

Papageorgiou, a PhD holder, is also currently Professor of Finance at HEC Montreal; before he moved to HRS in 2014, he was senior derivatives strategist at the Montreal Exchange, prior to which he worked at Pavilion Financial Corp. and Desjardins Global Asset Management.