TORONTO, Nov. 25, 2016 /CNW/ - CIBC Asset Management Inc. today announced portfolio sub-advisor changes to further strengthen its core investment solutions with the addition of Morgan Stanley Investment Management Inc. (MSIM) and Rothschild Asset Management Inc. on certain mandates effective on or about December 16, 2016, and January 24, 2017, respectively.
"We are committed to providing Canadians with strong product platforms that deliver enhanced performance and risk-adjusted returns," said David Scandiffio, President and CEO, CIBC Asset Management Inc. "We seek out the highest-quality investment management expertise from around the world to help clients meet their investment goals. The changes announced today are expected to strengthen our investment products and to benefit our clients."
Imperial U.S. Equity Pool
MSIM and Rothschild Asset Management Inc. have been appointed as portfolio sub-advisors for the Imperial U.S. Equity Pool. These portfolio sub-advisors will join CIBC Asset Management Inc., American Century Investment Management, Inc. (American Century), Pzena Investment Management, LLC (Pzena), and Sustainable Growth Advisers, LP (SGA).
Renaissance U.S. Equity Private Pool
MSIM and Rothschild Asset Management Inc. have been appointed as portfolio sub-advisors for the Renaissance U.S. Equity Private Pool. These portfolio sub-advisors will join INTECH Investment Management LLC, Pzena and SGA.
Renaissance U.S. Equity Value Fund
Rothschild Asset Management Inc. has been appointed portfolio sub-advisor for the Renaissance U.S. Equity Value Fund.
About the Newly Appointed Portfolio Sub-Advisory Firms
Morgan Stanley Investment Management Inc.: Morgan Stanley Investment Management Inc., a wholly owned subsidiary of Morgan Stanley, is dedicated to providing investment and risk-management solutions to a wide range of investors and institutions. Its investment strategies span the risk/return spectrum across geographies, investment styles and asset classes. It has more than four decades of asset management experience and over $417 billion USD in assets under management as of September 30, 2016.
Rothschild Asset Management Inc.: Rothschild Asset Management Inc. is a wholly owned subsidiary of Rothschild North America Inc. It manages investments covering a range of U.S. securities and seeks to provide superior performance while controlling risk. Rothschild Asset Management Inc. manages assets for a broad range of clients, offers alternative private funds to qualified investors and sub-advises risk-based products. It is guided by an investment philosophy that seeks to add value through stock selection while seeking to mitigate benchmark risk.
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. (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 clients. CAM is one of Canada's largest asset management firms, with over $115 billion in assets under administration as of September 30, 2016.
SOURCE Canadian Imperial Bank of Commerce