Significant outperformance in uncertain times
• Conviction: High conviction and low turnover portfolio (12% vs average Global Equity Category of 40%) reflects commitment to investment strategies Opportunity: Invests in distressed companies that are out of favour, but have potential for significant upside Value: Carefully follows favoured companies, waiting for their prices to fall to a level where he believes they are seriously undervalued Flexibility: “Go anywhere” mandate allows investment in companies of any size, in any geographic region or sector
In an uncertain and volatile investment environment, David Winters stands out as a global manager who outperforms and also controls risk. Renaissance Global Markets Fund’s Superior Performance: 3-Year Risk-Return Renaissance Global Markets Fund n
20
18
n
MSCI World Index (C$)
n
Global Equity Category (C$)
Higher returns 16
Return (%)
David Winters’ Investment Approach:
Lower risk 14
12
10
8 10.10
10.20
10.30
10.40
10.50
10.60
Standard Deviation (%) Source: Morningstar Direct as at February 29, 2012
10.70
10.80
10.90
11.00
GLOBAL EQUITY
Renaissance Global Markets Fund
Significant outperformance in uncertain times
David Winters’ Investment Highlights: • Finalist for U.S. Morningstar’s InternationalStock Manager of the Year 2011 Achieved inaugural Fundata FundGrade A+ Rating™ for 2011 Named one of the World’s Greatest Investors by the Wall Street Journal’s SmartMoney magazine in 2008 A 25-year track record of investment success
The Renaissance Global Markets Fund has consistently delivered higher returns than its benchmark and peers in the Global Equity category. Total Returns (as at June 30, 2012) 1 year
3 years
5 years
10 years
Since Inception
-3.7%
9.0%
-2.2%
0.9%
2.8%
2nd
1st
1st
2nd
–
MSCI World Index (C$)
1.0%
6.8%
-3.2%
1.6%
–
Morningstar Global Equity Category (C$)
-4.7%
4.7%
-5.2%
0.2%
–
Renaissance Global Markets Fund* Quartile Ranking
Source: Morningstar and PALTrak as at June 30, 2012. *David Winters has managed Renaissance Global Markets Fund since October 2006.
David Winters’ investment expertise is exclusively available in Canada through Renaissance Investments.
www.renaissanceinvestments.ca
86
Renaissance Investments is offered by CIBC Asset Management Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the Renaissance Investments family of funds simplified prospectus before investing. The indicated rates of return are the historical annual compounded total returns for the class A units, as at June 30, 2012 including changes in unit value and reinvestment of all distributions, but do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. ™ Renaissance Investments and “invest well. live better.” are registered trademarks of CIBC Asset Management Inc. E(201207)
GLOBAL EQUITY
Renaissance Global Markets Fund