CI First Asset Global Financial Sector ETF

Fund Overview

The Fund's investment objectives are to seek long-term total returns consisting of long-term capital appreciation and regular dividend income from an actively managed portfolio composed primarily of securities of issuers in the global financial services sector across developed and emerging markets.

Investor suitability
For those who:

  • want global equity exposure to companies in the financial services sector
  • want active currency management (tactical hedging)
  • want to receive regular quarterly cash flows (if any)
  • can tolerate medium to high risk.

Performance

 1m3m6mYTD1y2y3y4y5ySI
FSF -3.99%0.38%16.20%-26.34%-18.39%-12.23%-7.69%2.97%-2.45%-2.96%
Benchmark-2.90%-0.39%6.96%-19.69%-14.20%-6.09%-2.37%3.98%3.68%4.57%
As at: 30 Sep 2020 - Benchmark: MSCI ACWI Financials GR Index (Unhedged)

 

Historical NAVs

Sector Breakdown

As at September 30, 2020

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. CI First Asset Global Financial Sector ETF (FSF) was originally launched as a TSX-listed closed-end fund on November 21, 2014, and converted into an exchange traded fund on April 25, 2016. Performance shown is since inception of the closed-end fund. In connection with the conversion, and pursuant to unitholder approval, the annual management fee payable by the Fund to CI Investments Inc., as manager, was reduced to 0.85% (from 1.00%) of the NAV per unit and certain changes were made to the investment objectives, strategies and restrictions applicable to the Fund. Material among these changes is the ability of the Fund to invest in securities of global financial issuers; thereby broadening the scope of eligible investments both geographically and by type of financial institutions. On April 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.


The MSCI ACWI Financials Index captures large and mid cap representation across 23 Developed Markets and 23 Emerging Markets countries. All securities in the index are classified in the Financials sector as per the Global Industry Classification Standard (GICS®). This Index is used as a benchmark to help you understand the Fund`s performance relative to the general performance of Developed and Emerging Markets`s Financial sectors.

Key Facts

Fund Characteristics

Price/Earnings Ratio7.77
Price/Book Ratio0.66
As at 30 Sep, 2020

Fund Statistics

P/S Ratio (TTM) (Long)0.95
ROA % (TTM) (Long)1.61
ROE % (TTM) (Long)10.29
As at 30 Sep, 2020

Number of securities: 35

Asset Allocation

Security Type%
Foreign Stock90.21%
Common Stock8.15%
Preferred Stock1.24%
Currency Security0.41%

Top Holdings

NameSecurity TypeISINTicker %
SLM CORP Foreign StockUS78442P1066 SLM US 9.93
SYNCHRONY FINANCIAL Foreign StockUS87165B1035 SYF US 8.68
BURFORD CAPITAL LTD Foreign StockGG00B4L84979 BUR LN 7.59
EQUITABLE HOLDINGS INC Foreign StockUS29452E1010 EQH US 5.20
AERCAP HOLDINGS NV Foreign StockNL0000687663 AER US 5.04
CITIGROUP INC Foreign StockUS1729674242 C US 4.53
ING GROEP NV Foreign StockNL0011821202 INGA NA 4.40
ABN AMRO BANK NV Foreign StockNL0011540547 ABN NA 4.35
BAWAG GROUP AG Foreign StockAT0000BAWAG2 BG AV 4.33
AVIVA PLC Foreign StockGB0002162385 AV/ LN 4.18

As at: 30 September 2020
Holdings are subject to change

58.23%

Distributions

Distribution details (.csv)

Twelve month trailing distribution yield : 2.04% (as at 27 Oct 2020)

FSFTotalCashReinvestedEligible dividendsNon eligible dividendsOther incomeCapital GainsReturn of capitalForeign IncomeForeign tax paid
SI$1.29700$1.27900$0.01800$0.00532--$0.22410$0.32445$0.61649$0.08497
2020 +$0.21160$0.21160--------
24-Sep$0.05100$0.05100--------
24-Jun$0.06560$0.06560--------
25-Mar$0.09500$0.09500--------
2019 +$0.39800$0.38000$0.01800$0.00532--$0.01571$0.00905$0.42402$0.05610
30-Dec$0.01800-$0.01800$0.00024--$0.00071$0.00041$0.01918$0.00254
23-Dec$0.09500$0.09500-$0.00127--$0.00375$0.00216$0.10121$0.01339
24-Sep$0.09500$0.09500-$0.00127--$0.00375$0.00216$0.10121$0.01339
24-Jun$0.09500$0.09500-$0.00127--$0.00375$0.00216$0.10121$0.01339
25-Mar$0.09500$0.09500-$0.00127--$0.00375$0.00216$0.10121$0.01339
2018 +$0.37200$0.37200----$0.20839-$0.19247$0.02887
21-Dec$0.10210$0.10210----$0.05720-$0.05283$0.00792
24-Sep$0.09390$0.09390----$0.05260-$0.04858$0.00729
25-Jun$0.09390$0.09390----$0.05260-$0.04858$0.00729
23-Mar$0.08210$0.08210----$0.04599-$0.04248$0.00637
2017 +$0.20100$0.20100-----$0.20100--
28-Dec$0.05300$0.05300-----$0.05300--
28-Sep$0.05300$0.05300-----$0.05300--
29-Jun$0.04290$0.04290-----$0.04290--
30-Mar$0.05210$0.05210-----$0.05210--
2016 +$0.11440$0.11440-----$0.11440--
29-Dec$0.03910$0.03910-----$0.03910--
29-Sep$0.05310$0.05310-----$0.05310--
29-Jun$0.02220$0.02220-----$0.02220--

(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.

News

23 Feb 2018 Actively managed ETFs just keep getting hotter The Globel and Mail | Clare O'Hara
23 Oct 2015 CI Financial scoops up ETF provider First Asset Capital The Globe and Mail | Clare O'Hara

Documents

5 Oct, 2020 - ETF Facts

National Instrument 81-106 Investment Fund Continuous Disclosure requires disclosure of the proxy voting record on an annual basis for the period ending on June 30 of each year. The proxy voting record must be posted on the website no later than August 31 of each year.

Canadian securities law provides that the manager of an investment funds (in this case, CI Investments Inc. ("CI")), acting on behalf of the investment fund, has the right and obligation to vote proxies relating to the investment fund's portfolio securities. As a practical matter, CI delegates this function to the applicable portfolio manager or sub-adviser, as part of the portfolio manager's or sub-adviser's general management of the investment fund assets, subject to oversight by CI. CI generally requires that applicable portfolio managers or sub-advisers vote all proxies in the best interest of CI's funds and their securityholders, as determined solely by the portfolio manager or sub-adviser, and subject to CI's proxy voting policy, the guidelines applicable to the individual portfolio manager or sub-adviser, and applicable legislation. Portfolio managers and sub-advisers are generally expected to vote on any matter for which the investment fund receives proxy materials for a meeting of securityholders of an issuer.

Proxy voting record for the most recent year:

30 Jun, 2020 - Proxy Voting Record

Warning: Documents posted on this website (including, without limitation, prospectuses) are current only as of the date on them

To access the SEDAR filings of CI First Asset Global Financial Sector ETF please click here