TORONTO, Aug. 26,
2022 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC
Asset Management Inc. ("CAM") today announced portfolio
sub-advisory changes and risk rating updates to certain funds.
Portfolio sub-advisor change
Connor, Clark & Lunn Investment Management Ltd. has been
appointed as portfolio sub-advisor for the CIBC Canadian Small-Cap
Fund and the Renaissance Canadian Small-Cap Fund effective on or
about October 3, 2022.
Risk rating updates
CAM also announced changes to the risk ratings of the
Renaissance Canadian Dividend Fund and Axiom Balanced Income
Portfolio. The changes will be reflected in the simplified
prospectus renewal of the Renaissance Investments family of
funds, Axiom Portfolios, Renaissance Private Pools and CIBC Fixed
Income Pools, effective on or about August 26, 2022.
The new risk ratings were determined in accordance with the
standardized risk classification methodology mandated by the
Canadian Securities Administrators. No changes have been made to
the investment objectives, investment strategies or management of
these funds. CAM reviews the risk rating for each fund at least
annually, and make adjustments whenever the existing investment
risk level is no longer appropriate.
Axiom Balanced Income
CIBC is a leading North American financial institution with 13
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, with offices in the United States and around the world.
Ongoing news releases and more information about CIBC can be found
About CIBC Asset Management
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 $160
billion in assets under administration as of July 2022.