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Fund Price: $16.33 (as at May 21, 2013)  1-day chg: $.08 0.49%  YTD: 22.87%

Returns as at April 30, 2013

  Fund Group Avg Index*
1 Month 6.40% 2.77% 4.44%
3 Months 11.38% 3.60% 6.11%
6 Months 23.35% 13.89% 18.07%
1 Year 27.61% 16.69% 22.24%
2 Year Avg 3.33% 2.17% 5.64%
3 Year Avg 9.18% 4.94% 7.80%
4 Year Avg 11.70% 8.17% 9.41%
5 Year Avg - -2.52% -0.49%
10 Year Avg - 4.09% 5.91%
15 Year Avg - 1.19% 2.08%
20 Year Avg - 4.21% 4.72%
Since Inception 9.73% - -
 
2012 17.56% 15.50% 15.34%
2011 -14.91% -13.03% -9.75%
2010 12.35% 4.04% 2.83%
 
3 year risk 15.92 15.95 13.40
3 year beta 1.10 1.00 1.00

*MSCI EAFE ($ Cdn)

Growth of $10,000

This graph shows how a $10,000 investment in this fund would have changed in value compared with the MSCI EAFE ($ Cdn).

Risk Measures as at April 30, 2013

Best/Worst 12 months (since inception)
Best (ending May 11): 30.72 bar graph of the performance of this holding (negative result) bar graph of the performance of this holding (positive result)
Worst (ending May 12): -19.93 bar graph of the performance of this holding (negative result) bar graph of the performance of this holding (positive result)
Volatility meter (Based on 3 year standard deviation from GlobeInvestor.com)
Low VOLATILITY METER: 16 High

Fund Objectives

The primary investment objective of the International Equity Alpha Corporate Class is to provide capital growth through investments primarily in equity and equity related securities of non-North American companies that the portfolio advisor believes represent good value and have the potential for positive total return. Equity-related securities include convertible preferred shares, convertible debt obligations and warrants. Any change to the investment objectives must be approved by a majority of the votes cast by shareholders at a meeting called to consider the change.

Fund Facts

Fund Sponsor: United Financial Corporation
Managed by: CI Investments Inc.
Fund Type: MF Corp
Inception Date: July 2008
Asset Class: International Equity
Quartile Rank: 1 (3YR ending April 30, 2013)
Total Assets: $121.4 million
Mgmt Exp. Ratio (MER): 0.24%
Management Fee: 0.00%
Load Type: Optional
Globe 5-Star Rating:
RRSP Eligible:
Canadian
Min. Invest (initial):
$500
Subsequent:
$50
Min. Invest (initial RRSP):
$500
Subsequent RRSP:
$50
Closed:
No
Restricted:
No
Restriction:
 
 

Asset Allocation April 30, 2013

Equity Sector Weightings April 30, 2013

Fund Geography April 30, 2013

Top Holdings as at April 30, 2013

Symbol Company Name Sector Geographic
Area		 Asset
Type		 % of
Total Assets		   Performance as at May 21, 2013
1 Year Performance (%)
SMFG-N Sumitomo Mitsui Financial Grp Management and Diversified Japan Stock 5.41   53.3 bar graph of the performance of this holding (negative result) bar graph of the performance of this holding (positive result)
SNY-N Sanofi Biotechnology & Pharmaceuticals France Stock 4.69   57.65 bar graph of the performance of this holding (negative result) bar graph of the performance of this holding (positive result)
- Samsung Electronics Co. Electrical & Electronic South Korea Stock 3.9   - bar graph of the performance of this holding (negative result) bar graph of the performance of this holding (positive result)
- Toyota Motor Corporation Automotive Japan Stock 3.65   - bar graph of the performance of this holding (negative result) bar graph of the performance of this holding (positive result)
- European Aeronautic Defence an Transportation Netherlands Stock 3.65   - bar graph of the performance of this holding (negative result) bar graph of the performance of this holding (positive result)
- Allianz SE Insurance Germany Stock 3.32   - bar graph of the performance of this holding (negative result) bar graph of the performance of this holding (positive result)
- Mitsubishi Estate Company Developers Japan Stock 3.2   - bar graph of the performance of this holding (negative result) bar graph of the performance of this holding (positive result)
- Roche Holdings Biotechnology & Pharmaceuticals Switzerland Stock 3.04   - bar graph of the performance of this holding (negative result) bar graph of the performance of this holding (positive result)
- Mitsubishi UFJ Financial Grp Banks Japan Stock 3.02   - bar graph of the performance of this holding (negative result) bar graph of the performance of this holding (positive result)

Distribution Report (18 months up to May 21, 2013)

Frequency of Income Distributions: Annually

Frequency of Capital Gain Distributions: Annually

Date Income Dividend Capital Gain Total (Current Period) Trailing 12-Months Total Reinvestment Price
Dec 14, 2012 0.0400 0.0400 0.0400 13.050
Dec 16, 2011 0.0360 0.0360 0.0360 11.170

Portfolio Manager(s)

David K Picton

Picton Mahoney Asset Management

Start Date: December, 2010

Fund Return: 5.80%

David Picton, President of Picton Mahoney Asset Management, has 17 years of investment experience, including eight years as a top-ranked analyst and head of quantitative research at RBC Dominion Securities. Mr. Picton has managed portfolios for Picton Mahoney mutual funds since 1997, including the Synergy Canadian Fund. He continues to manage those portfolios through Picton Mahoney Asset Management, an investment firm he founded in November 2004 along with Portfolio Manager Michael Mahoney. Mr. Picton is a graduate of the University of British Columbia with an Honours Bachelor of Commerce degree. He also received a Leslie Wong Fellowship from UBC's prestigious Portfolio Management Foundation.

Also manages:CI Synergy American, CI Synergy Canadian Corporate Class, CI Synergy Global Corporate Class, CI Synergy Tactical AA, Picton Mahoney Divers Strategies A, Picton Mahoney Long Short Equity A, Picton Mahoney Market Neutral Cl A, Picton Mahoney Tact Inc Fund Cl F, SW Elite CI PSS e100 Pt 100/100, SW Elite CI PSS i20/e80 Pt 100/100, SW Elite CI PSS i30/e70 Pt 100/100, SW Elite CI PSS i40/e60 Pt 100/100, SW Elite CI PSS i50/e50 Pt 100/100, SW Elite CI PSS i60/e40 Pt 100/100, SW Elite CI PSS i70/e30 Pt 100/100, SW Elite CI PSS i80/e20 Pt 100/100, United Int'l Equity Gwth CC-A, United Int'l Equity Gwth Pool-W

View fund manager performance report

Michael Kuan

Picton Mahoney Asset Management

Start Date: December, 2010

Fund Return: 5.80%

Michael has 13 years of investment industry experience and is a founding partner of Picton Mahoney Asset Management. He was an investment analyst at Synergy Asset Management since 2002. Michael spent three years at Scotia Capital where he was a Manager of Market Risk. Michael has an MBA from the University of Toronto and holds the Chartered Financial Analyst designation.

Also manages:CI Synergy Global Corporate Class, Picton Mahoney Gl Mkts Neutral Eq-A, Picton Mahoney Glo Long Short Equ-A, Picton Mahoney L/S Emerging Mkts- A, United Int'l Equity Gwth CC-A, United Int'l Equity Gwth Pool-W

View fund manager performance report