Renaissance Flexible Yield Fund offers Canadians exposure to
a broad fixed income universe
TORONTO, April 25, 2016 /CNW/ - CIBC (TSX: CM)
(NYSE: CM) -- CIBC Asset Management Inc. today launched
Renaissance Flexible Yield Fund, introducing to Canadian
investors a mandate from acclaimed U.S. bond portfolio manager,
Jeffrey Gundlach of
DoubleLine®.
Renaissance Flexible Yield Fund is a global fixed income
solution that leverages tactical allocation and active duration
management with the goal of providing investors with attractive
potential total return, while aiming to lower volatility. The fund
has flexibility to move across multiple fixed income sectors and
the portfolio manager may tactically adjust sector weights to
capture opportunistic gains from market fluctuations.
"We are delighted to bring this unique fixed-income mandate to
Canadian investors on an exclusive basis," says David Scandiffio, President, CIBC Asset
Management. "DoubleLine brings a strong reputation of in-depth risk
analysis to better position and protect capital for investors."
Mr. Gundlach, the chief executive officer of DoubleLine, an
independent, employee-owned money management firm based in
Los Angeles, is one of the world's
foremost bond fund managers and has been named one of Bloomberg
Markets magazine's "50 Most Influential" in 2015 and 2012, one
of Forbes' "Most Powerful People" in 2014, and "Money
Manager of the Year" in 2013 by Institutional Investor.
DoubleLine offers a wide array of investment strategies run by
experienced portfolio managers, employing active risk management,
in-depth research, and innovative product solutions.
Visit renaissanceinvestments.ca to learn more about
Renaissance Flexible Yield Fund.
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 Capital Markets – 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 investment
management firms, with over $110
billion in assets under management as of March 31, 2016.
DoubleLine® is a registered trademark of DoubleLine Capital
LP.
SOURCE Canadian Imperial Bank of Commerce