FPR.TO

About FPR.TO

CI Preferred Share ETF is an exchange-traded fund designed to deliver regular distributions and moderate capital appreciation by investing primarily in preferred shares of North American issuers. The fund employs an active management approach, emphasizing investment-grade preferred securities while maintaining flexibility to allocate a smaller portion to investment‑grade corporate bonds and convertible bonds. This structure targets the hybrid characteristics of preferred shares—equity-like subordination with bond-like income features—positioning the portfolio to serve income-focused mandates and complement traditional fixed income. Managed by CI Global Asset Management, the strategy seeks diversified sector exposure across Canadian financials, utilities, pipelines, and other rate‑sensitive industries that dominate the preferred market. The ETF’s profile is aligned to investors who prioritize steady cash flows and potential tax‑efficient distributions, reflecting the role preferreds play in Canadian income strategies. Since inception in 2016, the fund has aimed to balance credit quality with active security selection and structure mix, including rate‑reset and perpetual preferreds, to navigate interest rate cycles and issuer credit dynamics.