TORONTO, Feb. 19, 2019 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. today announced changes to its lineup of global and Canadian bond pools that will be effective on or about April 1, 2019.
Renaissance Canadian Fixed Income Private Pool
CIBC Asset Management is assuming core advisor responsibilities and joins Canso Investment Counsel Ltd. and Alliance Bernstein L.P. in managing the Renaissance Canadian Fixed Income Private Pool.
Imperial International Bond Pool
CIBC Asset Management has been added as a core portfolio advisor for the Imperial International Bond Pool, joining Brandywine Global Investment Management LLC and Wellington Management Canada ULC.
Renaissance Global Bond Private Pool
CIBC Asset Management has been added as a core portfolio advisor for the Renaissance Global Bond Private Pool, joining Brandywine Global Investment Management LLC and Wellington Management Canada ULC.
Currency management approach change
Both the Imperial International Bond Pool and the Renaissance Global Bond Private Pool will approach currency management from a Canadian investor's perspective. With the change, the pools will generally hedge foreign currency exposure back to the Canadian dollar. However, the pools may take non-Canadian dollar currency positions as conditions warrant based upon the currency outlook of the portfolio advisor or sub-advisor(s). This approach to currency management is intended to reduce the overall pool volatility for Canadian investors while participating in global fixed income markets.
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 $130 billion in assets under administration as of January 2019.