TORONTO, Sept. 7, 2017 /CNW/ - CIBC (TSX: CM) (NYSE:
CM) – CIBC Asset Management Inc. (CAM) today announced changes
to the risk ratings for the Renaissance Investments mutual funds
listed below. These changes will be reflected in the renewal of the
simplified prospectus for the funds and are effective on or about
September 11, 2017.
The new risk ratings were determined in accordance with the new
standardized risk classification methodology mandated by the
Canadian Securities Administrators. No changes have been made to
the investment objectives, investment strategies or management of
the funds. CAM reviews the risk rating for each fund at least
annually, and adjustments are made whenever we determine that the
investment risk level is no longer appropriate.
Fund
Name
|
Previous Risk
Rating
|
New Risk
Rating
|
Renaissance
Diversified Income Fund
|
Medium
|
Low to
Medium
|
Renaissance Emerging
Markets Fund
|
High
|
Medium to
High
|
Renaissance Flexible
Yield Fund - Hedged Classes*
|
Low to
Medium
|
Low
|
Renaissance Global
Real Estate Currency Neutral Fund
|
Medium to
High
|
High
|
Renaissance Global
Science & Technology Fund
|
High
|
Medium to
High
|
Renaissance Global
Small-Cap Fund
|
Medium to
High
|
Medium
|
Renaissance High
Income Fund
|
Medium
|
Low to
Medium
|
Renaissance Optimal
Income Portfolio
|
Low to
Medium
|
Low
|
Renaissance Optimal
Inflation Opportunities Portfolio
|
Medium
|
Low to
Medium
|
Renaissance U.S.
Dollar Corporate Bond Fund
|
Low
|
Low to
Medium
|
Renaissance U.S.
Dollar Diversified Income Fund
|
Low
|
Low to
Medium
|
Renaissance U.S.
Equity Growth Currency Neutral Fund
|
Medium
|
Medium to
High
|
* Risk rating
change applies to classes H, FH and OH of the fund only; classes A,
F and O will retain their Low to Medium risk rating
|
About CIBC
CIBC is a leading Canadian-based global financial institution
with 11 million personal banking, business, public sector and
institutional clients. Across Personal and Small Business Banking,
Commercial Banking and Wealth Management, and Capital Markets
businesses, CIBC offers a full range of advice, solutions and
services through its leading digital banking network, and locations
across Canada, in the United States and around the
world. Ongoing news releases and more information about CIBC can be
found at www.cibc.com/ca/media-centre/.
About CIBC Asset Management Inc.
CIBC Asset Management Inc., the asset management subsidiary of
CIBC, provides a range of high-quality investment management
services and solutions to retail and institutional investors.
Offerings include: a comprehensive platform of mutual funds,
strategic managed portfolio solutions, discretionary investment
management services for high-net-worth individuals and portfolio
management for institutional clients. CIBC Asset Management Inc. is
one of Canada's largest asset
management firms, with over $124
billion in assets under management as of July 31, 2017.
SOURCE CIBC