CI First Asset European Bank ETF

Investment Objectives

CI First Asset European Bank ETF's (the "Fund") investment objective is to seek long-term total returns consisting of long-term capital appreciation from an actively managed portfolio comprised primarily of equity securities of European banks.

The portfolio will be managed by Signature Global Asset Management (the "Portfolio Manager") and First Asset will provide all administrative and management services required by the Fund.

The Fund will seek to achieve its investment objective through the application of specialized analysis and expertise and intends to invest in a portfolio of equity securities that in the view of the Portfolio Manager represents a diversified portfolio of the most attractive opportunities in the European banking sector. At the discretion of the Portfolio Manager, the Fund may choose to enter into currency forward agreements to hedge all or a portion of the value of the Fund's non-Canadian currency exposure back to the Canadian dollar. Hedging currency exposure to reduce the impact of fluctuations in exchange rates is intended to reduce the direct exposure to foreign currency risk for Unitholders. The Fund's investments may be selected from any subsector or capitalization level of the European banking sector.

IMPORTANT INFORMATION: On November 18, 2016, Signature Global Asset Management, a division of CI Investments Inc., commenced investment advisory and portfolio management services for the Fund.

Signature Global Asset Management

Signature Global Asset Management: Sector Specialists

Signature Global Asset Management, a division of CI Investments Inc., is the Portfolio Manager of the Fund. Signature Global Asset Management, led by Chief Investment Officer Eric Bushell, manages over $50 billion in core equity, balanced and income-oriented funds, and is CI Investments' largest in-house portfolio management group. Signature's John Hadwen, Vice- President and Portfolio Manager, is responsible for stock selection for the Fund.

Mr. Hadwen specializes in the global financial services sector and is responsible for stock selection in the sector for Signature Funds, overseeing approximately $5 billion in assets under management. Mr. Hadwen holds an Honours BA and the Chartered Financial Analyst designation.

FHB -0.47%-1.60%2.66%2.66%-13.87%-7.83%9.68%-6.83%-4.52%
As at: 30 Jun 2019


Sector Breakdown*

As at 28 June 2019
*As a percent of invested assets

Country Breakdown*

As at 28 June 2019
*As a percent of invested assets

The indicated rates of return are the historical annual compounded total returns, including changes in unit value and do not take into account sales, redemption or optional charges or income taxes payable by a security holder that would have reduced returns. On November 18, 2016, Signature Global Asset Management, a division of CI Investments Inc., commenced investment advisory and portfolio management services for the Fund. Had these changes been in effect prior to this date the performance of the Fund could have been different.

Key Facts

Fund Characteristics

Price/Earnings Ratio8.95
Price/Book Ratio0.81
As at 28 Jun, 2019

Fund Statistics

P/S Ratio (TTM) (Long)1.65
ROA % (TTM) (Long)1.77
ROE % (TTM) (Long)11.60
As at 28 Jun, 2019


Distribution details (.csv)

Twelve month trailing distribution yield : 3.44% (as at 23 Jul 2019)

FHBTotalCashReinvestedEligible dividendsNon eligible dividendsOther incomeCapital GainsReturn of capitalForeign IncomeForeign tax paid
2019 +$0.12180$0.12180--------
2018 +$0.27690$0.23690$0.04000-----$0.32576$0.04886
2017 +$0.17930$0.17930-----$0.01526$0.18607$0.02203
2016 +$0.16010$0.16010-----$0.00233$0.17693$0.01916
2015 +$0.06340$0.06340-----$0.04821$0.01639$0.00120

(1) Future distribution dates may be amended at any time. (2) Reinvested distributions are not paid in cash but instead remain invested in the Fund. To recognize that these distributions have been allocated to investors for tax purposes the amounts of these distributions should be added to the adjusted cost base of the units held. (3) The characterization of distributions for tax purposes (such as dividends/other income/capital gains etc.) will not be known for certain until after the Fund's tax year end. Therefore investors will be informed of the characterization of the amounts distributed for tax purposes only for the entire year and not with each distribution. For tax purposes these amounts will be reported by brokers on official tax statements.


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