CI Active Utility & Infrastructure ETF
FAI.TO
Toronto Stock Exchange- -
CAD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Canada
- IPO Date
- Jan 2, 2008
- Similar Companies
- Business
- CI Active Utility & Infrastructure ETF (FAI.TO) is an actively managed exchange-traded fund incorporated in Canada and listed on the Toronto Stock Exchange that invests primarily in equity securities of issuers deriving their revenue from utilities or energy infrastructure, including electric utilities, pipelines, power generation, and supporting services; the fund also allocates to financial services and cash equivalents, with major holdings such as Fortis Inc., Hydro One Ltd., Emera Inc., Enbridge Inc., and Brookfield Asset Management Inc. Launched originally as a closed-end fund in February 2005 and converted to an ETF structure in January 2015, it is managed by CI Investments Inc., a subsidiary of CI Global Asset Management (CI GAM) and CI Financial Corp., headquartered in Toronto, Ontario. The fund targets investors seeking high monthly cash distributions, attractive management fees of 0.65%, and capital appreciation potential through its diversified portfolio, with approximately 78% Canadian equity, 20% U.S. equity, and operations focused on North American markets. In recent years, the ETF avoided termination through a proposed merger with CI Global Infrastructure Private Pool (CINF) announced in December 2021, which did not proceed, allowing FAI to continue independently as part of CI GAM's robust lineup of over 80 ETFs encompassing active, smart beta, thematic, and covered call strategies. CI GAM, established in 1965, has pursued broader portfolio rationalizations, including the completion of multiple ETF and mutual fund mergers in 2023 and 2024, as well as ongoing risk rating adjustments and product enhancements like fee reductions on new launches, reinforcing its position as Canada's fifth-largest ETF provider with $21.5 billion in ETF assets under management as of early 2024. These strategic shifts emphasize streamlined offerings and investor-focused innovations without direct operational changes to FAI.