TORONTO, Feb. 14,
2025 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC
Asset Management (CAM) today announced a number of changes to its
mutual fund line-up, including portfolio management changes,
management fee reductions, and fund name changes.
Portfolio management changes
Effective on or about March 14,
2025, portfolio management responsibilities for the
following funds will be assumed or reallocated to the portfolio
sub-advisor as follows:
|
Fund
|
Portfolio management
responsibilities
|
|
CIBC Emerging Markets
Fund
|
Mackenzie Financial
Corporation
|
|
Renaissance Emerging
Markets Fund
|
Mackenzie Financial
Corporation
|
|
CIBC Emerging Markets
Equity Private Pool
|
Mackenzie Financial
Corporation
|
|
Imperial Emerging
Economies Pool
|
Mackenzie Financial
Corporation
|
Effective on or about April 15,
2025, portfolio management responsibilities for the
following funds will be assumed or reallocated to the portfolio
advisor and/or portfolio sub-advisor(s) as follows:
|
Fund
|
Portfolio management
responsibilities
|
|
Renaissance Global Bond
Fund
|
CIBC Asset Management
Inc.
|
|
CIBC Global Bond
Private Pool
|
CIBC Asset Management
Inc.
|
|
PIMCO Canada
Corp.
|
|
Imperial International
Bond Pool
|
CIBC Asset Management
Inc.
|
|
PIMCO Canada
Corp.
|
Management fee reductions
Effective on or about March 14,
2025, the management fees for the following funds will be
reduced as indicated below.
|
Fund
|
Class
|
Management
fee
|
|
Current
|
New
|
|
CIBC Emerging Markets
Fund
|
A
|
2.25 %
|
1.75 %
|
|
F
|
1.25 %
|
0.75 %
|
|
CIBC Emerging Markets
Equity Private Pool
|
C
|
2.05 %
|
1.90 %
|
|
I
|
1.05 %
|
0.90 %
|
Effective on or about April 15,
2025, the management fees for the following funds will be
reduced as indicated below.
|
Fund
|
Class
|
Management
fee
|
|
Current
|
New
|
|
Renaissance Global Bond
Fund
|
A
|
1.25 %
|
1.00 %
|
|
F
|
0.75 %
|
0.50 %
|
|
Premium*
|
1.25 %
|
1.00 %
|
|
F-Premium*
|
0.75 %
|
0.50 %
|
|
CIBC Global Bond
Private Pool
|
Premium**
|
0.95 %
|
0.90 %
|
|
Premium T4**
|
0.95 %
|
0.90 %
|
|
Premium T6**
|
0.95 %
|
0.90 %
|
|
C
|
1.00 %
|
0.95 %
|
|
F-Premium**
|
0.45 %
|
0.40 %
|
|
F-Premium
T4**
|
0.45 %
|
0.40 %
|
|
F-Premium
T6**
|
0.45 %
|
0.40 %
|
|
N-Premium**
|
0.45 %
|
0.40 %
|
|
N-Premium
T4**
|
0.45 %
|
0.40 %
|
|
N-Premium
T6**
|
0.45 %
|
0.40 %
|
|
I
|
0.50 %
|
0.45 %
|
|
*Closed to new
purchases; **includes all associated U.S. dollar purchase
options
|
Fund name changes
Effective on or about May 1, 2025,
the following funds will be renamed as described below.
|
Current fund
name
|
New fund
name
|
|
Renaissance Global
Science & Technology Fund
|
Renaissance Global
Innovation Fund
|
|
CIBC Global Technology
Fund
|
CIBC Technology
Innovation Fund
|
These changes reflect our ongoing commitment to provide
best-in-class value and investment management services to our
clients and help further modernize our line-up.
About CIBC
CIBC is a leading North American financial institution with 14
million personal banking, business, public sector and institutional
clients. Across Personal and 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
https://www.cibc.com/en/about-cibc/media-centre.html.
About CIBC Asset Management
CIBC Asset Management Inc. (CAM), the asset management
subsidiary of CIBC, provides a range of high-quality investment
management services and solutions to retail and institutional
investors. CAM's offerings include: a comprehensive platform of
mutual funds, strategic managed portfolio solutions, discretionary
investment management services for high-net-worth individuals, and
institutional portfolio management. CAM is one of Canada's largest asset management firms, with
over $227 billion in assets under
administration as of December
2024.
SOURCE CIBC
