TORONTO, Feb. 10, 2016 /CNW/ - CIBC Asset Management Inc.
today announced portfolio sub-advisor changes to further strengthen
core investment solutions. Changes will take effect on or about
April 1, 2016.
"We constantly monitor our product line-up to ensure we continue
to deliver enhanced performance and risk-adjusted returns to our
clients," said David Scandiffio,
President and CEO, CIBC Asset Management. "Our open architecture
approach allows us to partner with the highest-quality investment
management expertise from around the globe, and the enhancements
announced today will benefit our clients and strengthen our
investment offerings."
Renaissance Global Markets Fund
Causeway
Capital Management LLC (Causeway) has been appointed as portfolio
sub-advisor for Renaissance Global Markets Fund. Causeway is an
independent investment management firm based in Los Angeles, California, and founded in
June 2001. It takes a bottom-up
approach to selecting mid- and large-cap global stocks, seeking to
identify under-priced securities that are held until the market
recognizes their fair value. The firm's portfolio managers and
research analysts work together to determine expected returns for
undervalued securities. This analysis is then refined using tools
developed by their quantitative specialists to manage portfolio
risk. Causeway manages over $41
billion in assets as of Dec.
31.
Renaissance Canadian Core Value Fund
For the
global equity component, the Fund will now include exposure to
Renaissance Global Value Fund, sub-advised by Pzena Investment
Management, LLC. The Canadian equity sleeve of the Fund will
continue to be managed by CIBC Asset Management.
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/.
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 $111
billion in assets under management as of December 31,
2015.
SOURCE Canadian Imperial Bank of Commerce