TORONTO, July 27, 2020 /CNW/ - CIBC (TSX: CM) (NYSE: CM) — Today CIBC Asset Management Inc. launched CIBC Global Growth ETF and CIBC International Equity ETF, two new actively-managed exchange-traded funds (ETFs) that provide investors with global diversification to equity securities.
"Diversification across global markets is essential for investors' portfolios and we are pleased to offer active ETF solutions to meet these needs," says David Scandiffio, President and CEO, CIBC Asset Management.
CIBC Global Growth ETF seeks to generate long-term capital growth by investing in a diversified portfolio consisting primarily of equity securities of companies located anywhere in the world with high valuations and growth prospects. Exposure to these types of securities will be obtained by investing primarily in units of Renaissance Global Growth Fund, which is sub-advised by Walter Scott & Partners Limited.
CIBC International Equity ETF seeks to generate long-term growth through capital appreciation by investing primarily in a diversified portfolio of equity securities of foreign companies in Europe, the Far East and the Pacific Rim. This ETF intends to provide investors access to international opportunities that are not readily available in Canada or the United States. Exposure to these types of securities will be obtained by investing primarily in units of Renaissance International Equity Fund, which is sub-advised by Walter Scott & Partners Limited.
CIBC Global Growth ETF and CIBC International Equity ETF have closed initial offering of units and will begin trading on the Toronto Stock Exchange today. More on the new CIBC ETFs can be found here.
|
TSX Ticker |
ETF Name |
Management Fee (%)* |
Description |
|
CGLO |
CIBC Global Growth ETF |
0.85% |
CIBC Global Growth ETF is an ETF solution for investors looking for global diversification with the expertise of professional active management. |
|
CINT |
CIBC International Equity ETF |
0.85% |
CIBC International Equity ETF is an ETF solution for investors looking for enhanced, international diversification with the expertise of professional active management. |
*The management fee is equal to the fee paid by the CIBC ETF to CIBC Asset Management Inc. and does not include applicable taxes or other fees and expenses of the CIBC ETF.
CIBC ETFs 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 exchange traded funds (ETFs). Please read the CIBC ETFs prospectus or ETF Facts document before investing. To obtain a copy, call 1-888-888-3863, ask your advisor or visit www.cibc.com/etfs. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. CIBC ETFs 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 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 $143 billion in assets under administration as of June 2020.
SOURCE CIBC
