New offering helps to mitigate the impact of currency
fluctuations
TORONTO, Oct. 9, 2015 /CNW/ - CIBC Asset Management Inc.
(CAM) today launched currency-hedged classes for the Renaissance
U.S. Equity Income Fund. The new offering will provide Canadian
investors with the opportunity to access the benefits of exposure
to dividend-paying U.S. equities, while mitigating the impact of
currency fluctuations.
"Canadian investors are seeking more stability, including the
ability to minimize the impact of currency exchange rates on their
U.S. investments," says David
Scandiffio, President and CEO of CIBC Asset Management. "We
are pleased to be able to provide that option to our clients with
new currency-hedged classes of a core investment solution."
The Renaissance U.S. Equity Income Fund is sub-advised by
American Century Investments® and seeks to provide current income
and long-term capital growth by investing primarily in a
diversified portfolio of equity securities of companies located in
the United States. CIBC owns a
41-per cent equity interest in American Century, a major U.S. asset
management, serving financial intermediaries, institutions and
individuals.
About CIBC Asset Management
CAM, the asset management subsidiary of CIBC, provides a range
of high-quality investment management services and solutions to
individual 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 portfolio management for
institutional clients. CAM is one of Canada's largest asset management firms, with
over $110 billion in assets under
management as of June
30, 2015.
SOURCE Canadian Imperial Bank of Commerce