Top 5 Holdings of each of the Underlying Funds (unaudited)
Semi-Annual Financial Statements as at June 30, 2013
†The Underlying Funds are also managed by CI Investments Inc., the Manager of the Fund.
Percentages shown in brackets in the Statement of Investment Portfolio relate investments at fair value to net assets of the Fund.
The accompanying notes are an integral part of these financial statements.
Statement of Investment Portfolio as at June 30, 2013
No. of Average Fair
Units/Shares Investment Cost ($) Value ($)
FUNDS (99.7%)
346,456 Cambridge Canadian Asset Allocation
Corporate Class (A Shares)† 4,075,370 4,327,236
50,525 Signature Canadian Bond Corporate Class
(A Shares)† 761,649 747,258
Total Investments (99.7%) 4,837,019 5,074,494
Other Net Assets (Liabilities) (0.3%) 16,124
Net Assets (100.0%) 5,090,618
SunWise Essential 2 CI Cambridge Canadian Asset Allocation Segregated Balanced Bundle
Financial Statements (unaudited)
(see Schedule of Fund Unit Transactions) Investment / Estate Class
Realized and unrealized gain (loss) on investments Realized gain (loss) on investments in Net Assets from Operations per Unit)
Statement of Operations for the period ended June 30 (in $000’s)
Statements of Net Assets
as at June 30, 2013 and December 31, 2012 (in $000’s except for per unit amounts and units outstanding)
Net assets, beginning of period
Statement of Changes in Net Assets
for the period ended June 30
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SunWise Essential 2 CI Cambridge Canadian Asset Allocation Segregated Balanced Bundle
Supplementary Schedules (for the period ended June 30) (unaudited)
Semi-Annual Financial Statements as at June 30, 2013
The accompanying notes are an integral part of these financial statements.
127,124 30,748
224,792 33,327
(14,945) (1,886)
336,971 62,189
10,874 51,406 (1,502) 60,778 Supplementary Schedules
Investment / Estate Class Income Class
2013 2013
Schedule of Fund Unit Transactions Number of units, beginning of period Units issued for cash
Units redeemed
Number of units, end of period
PIM Class 2013 Number of units, beginning of period
Units issued for cash Units redeemed
Number of units, end of period
Investment / Estate Class Income Class
2013 2013
Schedule of Increase (Decrease) in Net Assets from Operations per Unit Increase (decrease) in net assets from
operations per unit ($) (1)
PIM Class 2013 Increase (decrease) in net assets from
operations per unit ($) (1)
(1)Increase (decrease) in net assets from operations per unit of the class is calculated by dividing the increase (decrease) in net assets from operations for the relevant class by the weighted average number of units outstanding of the class during the period.
0.76 0.81
0.72
SunWise Essential 2 CI Cambridge Canadian Asset Allocation Segregated Balanced Bundle
Financial Highlights (for the periods ended June 30 and December 31) (unaudited)
The accompanying notes are an integral part of these financial statements.
Financial Highlights
The following tables show selected key financial information about the Fund and are intended to help you understand the Fund's financial performance for the past periods, as applicable.
Investment / Estate Class Income Class
2013 2012 2013 2012
The Fund’s Net Asset Value per Unit Net asset value at June 30, 2013 and
December 31, 2012 of period shown ($)(1)
Ratios and Supplemental Data Net assets ($000’s) (1) Number of units outstanding(1) Portfolio turnover rate (%)(2)
Management expense ratio
Management expense ratio before taxes (%)(3) Goods and services tax/
Harmonized sales tax expenses (%)(3) Management expense ratio after taxes (%)(3) Effective HST rate, for the prior
calendar period (%)(3)
11.03 10.14 11.06 10.15
3,718 1,289 688 312
336,971 127,124 62,189 30,748
4.58 3.48 4.58 3.48
2.60 2.60 2.27 2.27
0.29 0.27 0.25 0.24
2.89 2.87 2.52 2.51
11.14 11.66 10.79 10.63
(1)This information is provided as at June 30, 2013 and December 31, 2012 of the periods shown.
(2)The Fund's portfolio turnover rate indicates how actively the Fund's portfolio advisor manages its portfolio investments. A portfolio turnover rate of 100% is equivalent to the Fund buying and selling all of the securities in its portfolio once in the course of the period. The higher a fund's portfolio turnover rate in a period, the greater the trading costs payable by the fund in the period, and the greater the chance of an investor receiving taxable capital gains in the period. There is not necessarily a relationship between a high turnover rate and the performance of a fund.
(3)Management expense information is calculated based on expenses charged directly to the Fund plus, if applicable, expenses of the underlying mutual fund, calculated on a weighted average basis on the percentage weighting of the underlying mutual fund and is expressed as an annualized percentage of average net assets for the period shown. The effective HST tax rate is province based on unitholder residency and can be different from 13%. For particular period, the rate shown will be prorated based on the different rates in effect during that period.
PIM Class
2013 2012
The Fund’s Net Asset Value per Unit Net asset value at June 30, 2013 and
December 31, 2012 of period shown ($)(1)
Ratios and Supplemental Data Net assets ($000’s) (1) Number of units outstanding(1) Portfolio turnover rate (%)(2)
Management expense ratio
Management expense ratio before taxes (%)(3) Goods and services tax/
Harmonized sales tax expenses (%)(3) Management expense ratio after taxes (%)(3) Effective HST rate, for the prior
calendar period (%)(3)
11.27 10.23
685 111
60,778 10,874
4.58 3.48
0.15 0.15
- 0.03
0.15 0.18
- 13.00
The Fund’s investments were concentrated in the following Underlying Funds:
as at June 30, 2013
Funds Net Assets (%)
Cambridge Canadian Asset Allocation Corporate Class (A Shares) . . . 85.0 Signature Canadian Bond Corporate Class (A Shares) . . . 14.7 Other Net Assets (Liabilities) . . . 0.3
as at December 31, 2012
Funds Net Assets (%)
Cambridge Canadian Asset Allocation Corporate Class (A Shares) . . . 85.0 Signature Canadian Bond Corporate Class (A Shares) . . . 15.0 Other Net Assets (Liabilities) . . . 0.0
During the six-month period the Fund's other price risk exposure changed significantly as disclosed in the section below. For details relating to credit risk, currency risk, interest rate risk and fair value hierarchy, refer to the audited annual financial statements as at December 31, 2012, as the Fund's exposure to those risks remains unchanged.
Other Price Risk
The Fund indirectly bears the other price risk exposure of the Underlying Funds. Through its investment in the Underlying Funds, the Fund may have exposure to other price risk to the extent that the Underlying Funds’ holdings were sensitive to changes in general economic conditions in Canada.
As at June 30, 2013, had the Canadian markets increased or decreased by 10% (December 31, 2012 -10%), with all other variables held constant, net assets of the Fund would have increased or decreased, respectively, by approximately $433,000 (December 31, 2012 - $146,000). In practice, actual results may differ from this analysis and the difference may be material.
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SunWise Essential 2 CI Cambridge Canadian Asset Allocation Segregated Balanced Bundle
Fund Specific Financial Instruments Risks (unaudited) (Note 2)
Semi-Annual Financial Statements as at June 30, 2013
The accompanying notes are an integral part of these financial statements.
No. of Shares/ Average Fair
Par Value Investment Cost ($) Value ($)
Underlying Fund Name: Signature Corporate Bond Corporate Class
33,000,001 Short-Term Investments 33,000,000 33,000,859
14,001,000 Harvest Operations Corp.,
6.875% 10/01/2017 14,427,446 16,419,790
12,972,000 Bank of America Corp., Callable,
8% 10/30/2049 13,810,308 15,195,966
14,416,000 Lincoln National Corp., Callable
7% 05/17/2066 11,120,872 15,121,827
12,630,000 International Lease Finance Corp.,
8.75% 03/15/2017 12,848,836 14,795,333
Underlying Fund Name: Cambridge Canadian Equity Corporate Class
Cash & Equivalents 477,448,091
1,975,000 Intact Financial Corp. 117,694,659 117,018,750
3,772,500 CGI Group Inc. 92,501,916 116,193,000
1,850,000 Alimentation Couche-Tard Inc., Class B 80,736,598 115,440,000
2,700,000 Tourmaline Oil Corp. 84,623,626 113,751,000