TORONTO, Sept. 16, 2021 /CNW/ - CIBC (TSX: CM)
(NYSE: CM) — Today CIBC Asset Management Inc. (CAM) announced the
launch of two new index exchange-traded funds (ETFs) designed to
cover the core exposures in a typical asset allocation strategy.
These CIBC ETFs aim to replicate the performance of broad market
equity and fixed income indices by Morningstar, an independent
investment research and index provider. This launch builds upon the
core Index ETFs CAM launched on March 31,
2021 and rounds out CAM's initial suite of index
ETFs.
"We are pleased to leverage the high-calibre index construction
capabilities of Morningstar to deliver low-cost, diversified
solutions to meet our clients' evolving investment needs," says
David Scandiffio, President and CEO,
CIBC Asset Management.
The following ETFs have closed their initial offerings of units
and begin trading on the Toronto Stock Exchange today.
TSX
ticker
|
ETF
name
|
Index
name
|
Annual management
fee*
|
CGBI
|
CIBC Global Bond
ex-Canada Index ETF (CAD-Hedged)
|
Morningstar® Global
ex-Canada Core Bond Hedged CAD Index™
|
0.19%
|
CEMI
|
CIBC Emerging Markets
Equity Index ETF
|
Morningstar® Emerging
Markets Target Market Exposure Index™
|
0.22%
|
*The management fee
is equal to the fee paid by the CIBC ETF to CAM and doesn't include
applicable taxes or other fees and expenses of the CIBC
ETF.
|
These new CIBC ETFs will be among the lowest-cost ETFs currently
available in the Canadian market and allow investors to gain
exposure to the global fixed income and emerging
markets. These solutions draw upon the knowledge, indexing
capabilities and deep experience that CAM has successfully built
and demonstrated over the past three decades. With the launch of
these products, CAM offers a range of active, strategic beta and
competitively priced index ETFs.
This document is provided for general informational purposes
only and does not constitute financial, investment, tax, legal or
accounting advice nor does it constitute an offer or solicitation
to buy or sell any securities referred to. Individual circumstances
and current events are critical to sound investment planning;
anyone wishing to act on this document should consult with his or
her advisor. All opinions and estimates expressed in this document
are as of the date of publication unless otherwise indicated, and
are subject to change.
CIBC ETFs are managed by CAM, a subsidiary of Canadian
Imperial Bank of Commerce. Commissions, management fees and
expenses all may be associated with investments in exchange traded
funds (ETFs). Please read the CIBC ETFs prospectus or ETF Facts
document before investing. To obtain a copy, call 1-888-888-3863,
ask your advisor or visit www.cibc.com/etfs. ETFs are
not guaranteed, their values change frequently, and past
performance may not be repeated.
Index Disclaimer
Morningstar® Canada Core Bond Index™, Morningstar® Global
ex-Canada Core Bond Hedged CAD Index™, Morningstar® Canada Domestic
Index™, Morningstar® US Target Market Exposure Index™, Morningstar®
Developed Markets ex-North America Target Market Exposure Index™,
and Morningstar® Emerging Markets Target Market Exposure Index™ are
trademarks or service marks of Morningstar Inc., and have been
licensed for use for certain purposes by CIBC Asset Management Inc.
The CIBC ETFs are not sponsored, endorsed, sold or promoted by
Morningstar, and Morningstar makes no representation regarding the
advisability of investing in the CIBC ETFs.
About CIBC
CIBC is a leading North American financial institution with 10
million personal banking, business, public sector and institutional
clients. Across Personal and Small 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, in the
United States and around the world. Ongoing news releases
and more information about CIBC can be found at
www.cibc.com/ca/media-centre.
About CIBC Asset Management (CAM)
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 $171
billion in assets under administration as of August 2021.
SOURCE CIBC