TORONTO, May 2 /CNW/ - CIBC Asset Management Inc. announced today the
appointment of Hamon Investment Management Limited ("Hamon") as portfolio
sub-advisor of the Talvest China Plus Fund and the Talvest Asian Fund. This
change is effective immediately.
    Hamon is an independent asset management firm established in 1989 that
specializes in Asian investment. Based in Hong Kong, Hamon has an extensive
range of relationships and associations throughout the region. Its clients
include pension funds, corporations, financial institutions and family trusts.
    "We are pleased to have Hamon join CIBC Asset Management's roster of
world-class investment managers, given their proven success and expertise in
the Asian investment arena," said Steve Geist, President of CIBC Asset
Management Inc., "They bring a strong track record to these Funds and local
knowledge of this dynamic and increasingly important global market."
    Hamon is led by an experienced management team, drawn from a wide variety
of backgrounds, with solid fund management and research expertise. It has
consistently demonstrated the ability to identify, evaluate and act on
emerging trends in the rapidly evolving Asian markets.
    With a "bottom-up" approach, Hamon actively manages funds with a core
style: growth or value depending on the economic and liquidity cycle. It
focuses on opportunities in different industries across the Asian countries,
and its strategy is performance-driven rather than market cap-driven.
    The Funds' investment objectives will not change. The Talvest China Plus
Fund seeks long-term growth through capital appreciation by investing
primarily in equity securities of companies based in China, Hong Kong and
Taiwan or that conduct a majority of their commercial activities in either one
or all of these countries. The Talvest Asian Fund's objective is to achieve
long-term growth through capital appreciation by investing primarily in a
diversified portfolio of equity securities or securities convertible to equity
securities of companies in the Asian and Pacific regions. Hamon replaces CIBC
Global Asset Management (Asia) Limited as portfolio sub-advisor of these two
Funds.

    CIBC is a leading North American financial institution with more than
11 million personal banking and business customers. CIBC offers a full range
of products and services through its comprehensive electronic banking network,
branches and offices across Canada, in the United States and around the world.
You can find other news releases and information about CIBC in our Press
Centre on our corporate website at www.cibc.com.