CI Marret Alternative Absolute Return Bond Fund
CMAR.TO
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- CI Marret Alternative Absolute Return Bond ETF (CMAR.TO) is an exchange-traded fund launched and managed by CI Global Asset Management Inc. and co-managed by Marret Asset Management Inc., seeking to provide positive absolute returns with low volatility over a market cycle regardless of market conditions or general market direction. The fund primarily invests in debt instruments across the global credit spectrum, including cash, government debt, investment grade corporate debt, high yield debt, credit derivatives, convertible bonds, government agency securities, inflation-linked bonds, private debt, and other income-producing securities with varying maturities; it employs a long/short strategy, leverage through cash borrowings, short sales, and derivatives, and fundamental analysis with bottom-up and top-down security picking to create its portfolio while benchmarking against the FTSE Canada Corporate Bond Index. The ETF trades on the Toronto Stock Exchange with monthly distributions, a management expense ratio of approximately 2.43%, and total net assets of around $225 million as of late 2025. Marret Asset Management Inc., the co-manager and a subsidiary of CI Global Asset Management since its majority acquisition by CI Financial Corp. in 2013, was founded in 2001 and is headquartered in Toronto, Ontario, with additional operations in Montreal; it specializes in fixed-income investing and alternative strategies for institutional, high net worth, and retail clients across Canada. The fund, formed on November 7, 2018, and domiciled in Canada, targets investors seeking low correlation to equity and traditional income markets through its alternative absolute return approach. Recent developments include ongoing monthly distributions announced for October 2025 and sustained asset growth within CI Global Asset Management's liquid alternatives lineup, which exceeded $4 billion as of mid-2021 and continues to expand through strategic initiatives; the broader CI GAM platform has pursued acquisitions in alternatives, such as Forge First in November 2025, building on prior integrations like Marret to enhance fixed-income and alternative offerings. No major partnerships, new product launches, or operational shifts specific to CMAR.TO have been reported in the last 1-2 years, with the fund maintaining its core strategy amid stable performance, including a 1-year return of +3.34% and low beta of 0.18 as of late 2025.