TORONTO, April 20, 2016 /CNW/ - CIBC (TSX: CM)
(NYSE: CM) – CIBC Asset Management announced today the launch of
three new fixed income strategies for institutional investors
seeking higher levels of value-add and additional tools for
building liability-aware portfolios.
- CIBC Core Plus Enhanced Alpha
- CIBC Canadian Core Plus Long Bond Pool
- CIBC Canadian Active Long Bond Pool
"In today's low yield environment, investors need their fixed
income allocations to work harder for them more than ever before,"
said Doug MacDonald, Managing
Director & Head, Institutional Asset Management, CIBC Asset
Management. "The CIBC Core Plus Enhanced Alpha strategy addresses
this challenge. Unique to the Canadian market, the
strategy combines unconstrained alpha overlays with our
established Core Plus approach.
"CIBC Core Plus Enhanced Alpha also seeks to exploit
inefficiencies in the currency markets, which have been exacerbated
by divergent monetary policies," says Mr. MacDonald. "This strategy
delivers an additional source of alpha and diversification to a
Core Plus fixed income portfolio."
CIBC Asset Management has also added new tools for
liability-aware investors seeking active strategies managed against
public benchmarks. The CIBC Canadian Core Plus Long Bond Pool
offers a unique approach to de-risking, providing longer duration
exposure to help hedge liabilities in conjunction with the benefits
of a broader investment universe. Managed against the FTSE/TMX
Canada Long Term Bond Index, the Pool is modeled after our existing
Core Plus strategies—leveraging the success of a 20-year track
record and $10 billion in assets
under management. The Canadian CIBC Active Long Bond Pool provides
another tool for investors seeking access to the Canadian-only long
bond market.
"The launch of the new Pools adds to our existing suite of
targeted duration strategies designed to cost-effectively help
plans transition to our fully customized liability driven investing
(LDI) solution, which benchmarks the LDI portfolio against a plan's
unique liabilities," said Carlo
DiLalla, Vice-President & Senior Client Portfolio
Manager, Fixed Income, CIBC Asset Management. "The Pools provide
clients with a de-risking option that maintains the transparency of
public benchmarks, while delivering active management against a
broader investment opportunity set."
About CIBC Asset Management
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 is one
of Canada's largest asset
management firms, with over $112
billion in assets under management as of March 31, 2016.
About CIBC
CIBC is a leading Canadian-based global financial institution
with 11 million personal banking and business clients. Through our
three major business units – Retail and Business Banking, Wealth
Management and Wholesale Banking – CIBC offers a full range of
products and services through its comprehensive electronic banking
network, branches and offices across Canada with offices in the United States and around the world. You
can find other news releases and information about CIBC on our
corporate website at www.cibc.com/ca/media-centre/.
SOURCE Canadian Imperial Bank of Commerce