This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

CI Financial To Acquire A Majority Stake In Marret Asset Management, Manager Of The Marret Closed End Funds

TSX Symbols: MHY.UN, MIG.UN, MMF.UN, MAR

TORONTO, Sept. 26, 2013 /CNW/ - Marret Asset Management Inc. ("Marret") today announced that CI Financial agreed to acquire a majority interest in Marret, the manager of the Marret closed end funds, which include Marret High Yield Strategies Fund (TSX: MHY.UN), Marret Investment Grade Bond Fund (TSX: MIG.UN), Marret Multi Strategy Income Fund (MMF.UN) and Marret Resource Corp. (TSX: MAR). Marret will continue to be the manager of the Marret closed end funds following the transaction, which is subject to regulatory approval.

"We are delighted that Barry Allan and the team at Marret are joining CI," said Stephen A. MacPhail, CI President and Chief Executive Officer. "Barry is an accomplished portfolio manager who has made Marret a top name in fixed-income and alternative investing in Canada."

"We are pleased to be working with CI, one of Canada's largest and most successful investment management firms," said Mr. Allan. "We look forward to new opportunities to offer our expertise to Canadian investors as part of the CI fund lineup."

CI is purchasing 65% of Marret, along with an option to acquire the remainder after three years.

Mr. Allan, who founded Marret in 2001, is backed by a highly experienced team of 11 portfolio managers and research analysts. The firm focuses on investing in investment-grade and high-yield corporate debt, and alternative strategies on behalf of institutional, high net worth and retail clients. Marret offers its own suite of funds and has acted as a sub-advisor on a number of funds, including large income-oriented mutual funds. Over the past decade, Marret has achieved strong returns and earned numerous industry awards for performance, including Lipper Fund and Morningstar Canadian Investment Awards.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,039.49 +60.36 0.36%
S&P 500 1,992.37 +5.86 0.30%
NASDAQ 4,532.1040 +5.6220 0.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs