CIBC Asset Management Announces Portfolio Sub-Advisor Changes and Risk Rating Updates for Certain Funds – zimo News

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CIBC Asset Management Announces Portfolio Sub-Advisor Changes and Risk Rating Updates for Certain Funds

Toronto, August 26, 2022 /CNW/ – Canadian Imperial Bank of Commerce (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. (“GAC”) today announced updates to its portfolio sub-advisers and risk ratings for certain funds.



Change of Associate Portfolio Advisor

Connor, Clark and Lunn Investment Management Ltd. Appointed as Deputy Portfolio Advisor to the CIBC Canadian Small Cap Fund and Renaissance Canadian Small Cap Fund, effective on or around the effective date October 3, 2022.

Risk Rating Update

The GAC also announced changes to the Renaissance Canadian Dividend Fund and Axiom Balanced Income Portfolio risk ratings.These changes will be reflected in an updated simplified prospectus Renaissance Investments Family of Funds, Axiom Portfolios, Renaissance Private Pools and CIBC Fixed Income PoolsEffective on or around August 26, 2022.

The new risk ratings are based on the standardized risk classification methodology prescribed by the Canadian Securities Regulatory Commission. No changes have been made to the investment objectives, investment strategies or management of these funds. The GAC reviews each fund’s risk rating at least annually and makes adjustments when existing investment risk levels are no longer appropriate.

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Past Risk Rankings

new risk rating

Renaissance Canada Dividend Fund

low to medium

Moderate

Axiom Balanced Income Portfolio

Down

low to medium

About CIBC

CIBC is North America’s leading financial institution with 13 million personal, commercial, public sector and institutional banking customers. In personal and corporate banking, corporate banking, wealth management and capital markets, CIBC provides a full range of advice, solutions and services through its leading digital banking network and its branches around the world. CanadaHas an office U.S. and around the world.For the latest press releases and more information from CIBC, please visit www.cibc.com/en/about-cibc/media-centre.html

About CIBC Asset Management

CIBC’s asset management subsidiary, GAC, provides a range of high-quality investment management services and solutions to retail and institutional investors. CAM’s products include: comprehensive mutual fund platforms, strategically managed portfolio solutions, discretionary investment management services for high net worth individuals and institutional portfolio management. CAM is one of them from Canada largest asset management company with more than $160 billion assets under management July 2022.

SOURCECIBC

For more information: Kira Smylie, CIBC Communications and Public Affairs 416-980-2949 or [email protected]



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