Board of Governors and Board of Directors
of the mutual funds:
The CI Investments Board of Governors was voluntarily established by
CI in 1998, making it one of the first such fund governance bodies in
The Board of Governors acts as an independent governance body of all
CI Mutual Funds, providing impartial judgment on conflicts of interest with a
view to the best interests of the CI Mutual Funds and CI Investments investors.
The Board of Governors recommends the best course of action to achieve
a fair and reasonable result on any conflict of interest issues, and CI
takes into account its recommendation in accordance with its fiduciary
duty to the CI Mutual Funds. All of the members of the Board are independent
The Board of Governors mandate is set out in a separate charter and reviewed
annually by the Board to ensure its mandate conforms to the expectations
and requirements of Canadian securities regulators. Along with dealing
with conflicts of interest, the mandate provides that the Board acts as
an audit committee for the CI Mutual Funds for the purpose of reviewing the financial
statements of the CI Mutual Funds with the auditors of the CI Mutual Funds and reviews
holdings, purchases and sales by the CI Mutual Funds of securities of CI Financial Corp. and other related companies.
The Board also reviews and discusses on a regular basis matters including
compliance of the CI Mutual Funds with CI's relevant policies and procedures,
approval of the CI Funds' auditors and the fees paid to those auditors
and the performance of the Board and its members.
The Board of Governors adheres to the regulations set out by Canadian
securities regulators in National Instrument 81-107 Independent Review
Committee for Investment Funds, which requires all investment funds in Canada
to have independent review committees.
The Board of Governors members are compensated as recommended by CI and approved by the board. These expenses are paid by CI and charged to the CI Mutual Funds as
part of their administration fee.
The members of the Board of Governors are:
- William Harding, Managing Partner, Alpine Asset Advisors AG
Governor since June 2005
- Stuart P. Hensman, Chair of the Board of Governors, Corporate Director
Governor since December 2004
- Christopher M. Hopper, President, KLQ Mechanical Ltd.
Governor since May 2007
- John Reucassel, President, The International Group, Inc.
Governor since March 2015
- Mary M. Robertson, Managing Director, Scotiabank
Governor since September 2014
- James M. Werry, Corporate Director
Governor since January 2017
To read the mandate of the Board of Governors, click