TORONTO, June 8, 2022
/CNW/ - CIBC (TSX: CM) (NYSE: CM) — CIBC Asset
Management Inc. (CAM) today announced the launch of two new fixed
income solutions, managed by PIMCO Canada Corp. (PIMCO). These
solutions aim to deliver client outcomes ranging from income
generation to modest long-term capital appreciation over time.
"CIBC Asset Management is proud to partner with a world-class
investment firm such as PIMCO," said David
Scandiffio, President and Chief Executive Officer, CIBC
Asset Management. "Through our sub-advisory partnership with PIMCO,
we are providing clients with access to the fixed income exposures
they need to build and protect their wealth regardless of shifting
market conditions."
To accommodate the risk and reward preferences of individual
investors, there are two solutions available:
CIBC Diversified Fixed Income Fund: Is an option
for income-oriented investors who are seeking a bond investment
that offers the potential for a consistent stream of income with an
emphasis on high-quality fixed income securities. The fund will
primarily invest in units of an underlying fund, the PIMCO Monthly
Income Fund (Canada) managed by
PIMCO. The underlying fund's multi-sector approach allows it to
seek out the best income-generating ideas in any given market
climate, targeting multiple sources of income from a global
opportunity set.
CIBC Global Credit Fund: Is an option for investors
seeking to take advantage of global bond opportunities that may
provide an incremental yield advantage over developed market
government bonds. These sectors include primarily investment grade
credit, high yield and emerging market bonds, as well as other
credit sectors appearing to offer relative value.
For more information on the funds visit
www.renaissanceinvestments.ca to view the funds' simplified
prospectus.
Commissions, trailing commissions, management fees and expenses
all may be associated with mutual fund investments. Please read the
simplified prospectus before investing. Mutual funds are not
guaranteed, their values change frequently, and past performance
may not be repeated.
About CIBC
CIBC is a leading North American financial institution with 11
million personal banking, business, public sector and institutional
clients. Across Personal and 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/en/about-cibc/media-centre.html.
About CIBC Asset
Management
CIBC Asset Management Inc. (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
over $160 billion in assets under administration as
of April 2022.
SOURCE CIBC