1. Best practices for multi-asset class investing
Alfred Lam, MBA, CFA, Portfolio Manager, CI Investment Consulting
Neal Kerr, Senior Vice-President, CI Product Development

2. Agenda CI’s total return equation
Multi-manager, multi-asset class – the choice is yours
Matching clients needs with CI solutions

3. CI Investment Consulting What do we manage ?
$15 billion AUM
CASTLEROCK
PORTFOLIOS

4. What led to the famous “lost decade” ?
From 1991 to 2000:
DEX Universe Bond Index return 10.4% (10.8% yield to 5.8%)
S&P/TSX Composite Index return 13.1% (12.5X P/E to 17.8X)
S&P 500 Index C$ return 20.5% (15.3X P/E to 24.3X)
From 2001 to 2010:
DEX Universe Bond Index return 6.3% (5.8% yield to 3.1%)
S&P/TSX Composite Index return 6.6% (17.8X P/E to 14.9X)
S&P 500 Index C$ return -2.6% (24.3X P/E to 14.9X)

5. What was the client experience ?
P/E expansion
FX appreciation
P/E compression
FX depreciation
*60% MSCI World Index C$ and 40% DEX Universe Bond Index

6. CI’s total return equation
Optimize
Manage/reduce
Minimize
Total return = Asset mix + Alpha + Market beta + Currency - Tax
Maximize
Manage

7. CI’s solutions – multi-level expertise
1. Asset mix
2. Alpha generation (stock and sector selection)

8. CI’s solutions – multi-level expertise
3. Risk management
4. Tax management
Beta management, sector
monitoring and rebalancing
On-going monitoring
and due diligence
Currency management

9. CI’s solutions – our value proposition
Your own Our target
fund-of-funds (in basis points)
Asset mix /- ?
Alpha
Beta management, sector
monitoring & rebalancing
Currency management
Corporate class / T-class
Overall

10. Use multi-manager, multi-asset class for maximum risk-adjusted returns
Managed solutions:
Guided portfolios:
Individual strategies from:
New

11. Managed solutions – our best kept secret
CI Portfolio Series CI Portfolio Select Series
Award-winning fund of funds
7 portfolios, 7 managers, 9-20 underlying funds
Indirect currency hedging via underlying managers
Indirect tax advantages via underlying corporate class
Enhanced reporting
Fully managed portfolios; or customized allocations
9 portfolios, 8 managers, 4 funds
Pure geographic allocations
Direct currency overlay program
Direct tax advantages via CI Corporate Class
T-Class options
Enhanced reporting

12. CI Private Investment Management (PIM) Guided portfolios – more support for the D-I-Y advisor
Nine professionally constructed risk-optimized portfolios.
Questionnaire designed to establish objectives and constraints.
Recommended fund allocations, or
Fully customizable.
List of recommended substitutes
Choose from any available fund within asset class.
Personalized Investment Policy Statement

13. Signature Global Advisors
Multi-asset class
Signature High Income
Signature Diversified Yield
Signature Income & Growth
Signature Global Income & Growth

14. Chief Investment Officer
Cambridge Advisors
Robert Swanson
Principal
Portfolio Manager
Alan Radlo
Chief Investment Officer
Portfolio Manager
Brandon Snow
Principal
Portfolio Manager
Greg Dean
Analyst
Stephen Groff
Analyst
Emi Winterer
Analyst
Multi-asset class: Cambridge Income, Cambridge Canadian Asset Allocation

15. Matching client needs with leading CI solutions
Accumulator
Income Seeker
Multi-team,
multi-manager
Portfolio Series
Portfolio Select Series
PIM Guided Portfolios
Select Income Advantage Managed (“SIA”)
PS Income
Single team,
Signature Income & Growth Fund
Cambridge Canadian Asset Allocation Fund
Signature Diversified Yield Fund (“SDY”)
Cambridge Income Fund

16. Moving out the curve* TSX Expected volatility
Signature Income & Growth
Cambridge Cdn Asset Allocation
Expected volatility
Signature Diversified Yield
Cambridge Income
Select Income Advantage
Expected return
* Based on March 31/12 asset allocations – see following slides for more details

17. Income seeker allocations
Select Income Advantage
Source: CI Investments, March

18. Income seeker allocations
Cambridge Income
Signature Diversified Yield
Source: CI Investments, March

19. Accumulator allocations
Cambridge Canadian Asset Allocation
Signature Income & Growth
Source: CI Investments, March

20. Thank you
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise indicated and except for returns for periods less than one year, the indicated rates of return are the historical annual compounded total returns including changes in security value. All performance data assume reinvestment of all distributions or dividends and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. ®CI Investments and the CI Investments design are registered trademarks of CI Investments Inc.