TORONTO, Oct. 29, 2020 /CNW/ - CIBC (TSX: CM)
(NYSE: CM) — Today CIBC Asset Management Inc. launched three new
actively-managed ETF series for CIBC Conservative Fixed Income
Pool, CIBC Core Fixed Income Pool and CIBC Core Plus Fixed Income
Pool. These new ETF series will provide investors with access to
advanced bond strategies in a simple one-ticket solution.
"Building on the successful performance of our fixed income pool
products, we are pleased to offer these investment solutions in an
ETF series which will allow investors greater flexibility in their
portfolios," says David Scandiffio,
President and CEO, CIBC Asset Management.
Composed of a diverse mix of mutual funds and exchange-traded
funds, the CIBC Fixed Income Pools are designed to be a long-term
core bond holding and feature built-in rebalancing and tactical
asset allocation. They include actively-managed investments in
government and corporate bonds across the spectrum of
investment-grade and high-yield, geography and currency.
CIBC Conservative Fixed Income Pool - ETF series, CIBC Core
Fixed Income Pool - ETF series and CIBC Core Plus Fixed Income Pool
- ETF series have closed initial offering of units and will begin
trading on the Toronto Stock Exchange today. More on the new ETF
series can be found here.
TSX
ticker
|
ETF series
name
|
Management fee
(%)*
|
Description
|
CCNS
|
CIBC Conservative
Fixed Income Pool -ETF series
|
0.30%
|
CIBC Conservative
Fixed Income Pool - ETF series - seeks to generate regular income.
Invests primarily in units of other mutual funds that invest in
fixed income securities.
|
CCRE
|
CIBC Core Fixed
Income Pool - ETF series
|
0.30%
|
CIBC Core Fixed
Income Pool - ETF series - seeks to generate regular income with a
secondary focus on modest long-term capital appreciation. Invests
primarily in units of other mutual funds that invest in fixed
income securities.
|
CPLS
|
CIBC Core Plus Fixed
Income Pool - ETF series
|
0.30%
|
CIBC Core Plus Fixed
Income Pool – ETF series - seeks to generate regular income
and modest long-term capital appreciation. Invests primarily in
units of other mutual funds that invest in fixed income
securities.
|
*The management fee is equal to the fee paid by the CIBC Fixed
Income Pool – ETF series to CIBC Asset Management Inc. and does not
include applicable taxes or other fees and expenses of the CIBC
Fixed Income Pool – ETF series. ETF series of the CIBC Fixed Income
Pools are managed by CIBC Asset Management Inc., a subsidiary of
Canadian Imperial Bank of Commerce. Commissions, management fees
and expenses all may be associated with investments in ETF series
of the CIBC Fixed Income Pools. Please read the CIBC Fixed Income
Pools prospectus or ETF Facts of the ETF series before investing.
To obtain a copy, call 1-888-888-3863, ask your advisor or visit
www.cibc.com/etfs. ETF series are not guaranteed, their values
change frequently and past performance may not be repeated. ETF
series of the CIBC Fixed Income Pools are offered by registered
dealers.
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
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 $148 billion in assets under
administration as of September
2020.
SOURCE CIBC