BUSINESS OVERVIEW BUSINESS STRATEGY  24 CI is a diversified wealth management firm and one of Canada’s largest independent investment fund companies. The  principal business of CI is the management, marketing, distribution and administration of mutual funds, segregated funds,  structured products and other fee-earning investment products for Canadian investors. They are distributed primarily  through brokers, independent financial planners and insurance advisors, including ACM and AFM financial advisors. CI  operates through two business segments, Asset Management and Asset Administration. The Asset Management segment  provides the majority of CI’s income and derives its revenue principally from the fees earned on the management of  several families of mutual, segregated, pooled and closed-end funds, structured products and discretionary accounts. The  Asset Administration segment derives its revenue principally from commissions and fees earned on the sale of mutual  funds and other financial products and ongoing service to clients.  CI maximizes shareholder value by increasing and retaining assets under management and assets under administration  on which it earns an acceptable margin. Management believes this can be achieved by focusing on the following factors:  quality and diversity of products offered by CI; experience and depth of investment managers; performance of the funds;  service levels provided to dealers and investors; and the skill and knowledge of its employees.  CI offers investors a wide range of Canadian and international investment products through a network of investment dealers,  mutual fund dealers, and insurance agents, which include advisors with AWM and Sun Life Financial. Several acquisitions of  fund management companies have allowed CI to offer investors what management believes to be the broadest selection of  investment funds in the Canadian mutual fund industry, including the largest lineup of segregated funds. CI uses three teams of in-house and 15 external investment managers to provide investment advice regarding the portfolios  of the funds. These investment managers typically have long careers in the industry as well as extensive track records with  CI. This lineup of investment managers provides a wide selection of styles and areas of expertise for CI’s funds.  CI selects managers with a reputation for skilled investment management. CI has significantly sized mandates available  to attract the top talent in this field. Many of CI’s investment managers have provided excellent long-term performance  for our largest funds. However, CI can and will make changes to its investment managers when unsatisfactory investment  performance has occurred. CI is the manager of the funds and provides services that include managing or arranging for the management of investment  portfolios, marketing of the funds, maintaining securityholders’ records and accounts, reporting to the securityholders  and processing transactions relating to securities of the funds. CI has invested in information systems and internal training  of staff to an extent which ensures it provides accurate and timely service to dealers and agents selling CI’s products and  to investors.