TORONTO, May 1 /CNW/ - CIBC Asset Management announced today sub-advisor
changes that continue our commitment to bringing quality investment management
expertise to Canadian investors.
    "CIBC Asset Management is focused on partnering with top portfolio
managers to help maximize returns and manage risk for our clients," said Steve
Geist, President of CIBC Asset Management.
    "We are pleased to have Aletheia Research and Management Inc. and
Metropolitan West Capital Management, LLC as part of our product line-up,"
continued Geist. "We are confident their proven investing expertise in the
U.S. equity markets will enhance the long-term performance potential for our
clients."

    Sub-advisor change to the Renaissance U.S. Equity Growth Fund and
    Frontiers U.S. Equity Pool

    Aletheia Research and Management Inc. (Aletheia) has been appointed
portfolio sub-advisor of the Renaissance U.S. Equity Growth Fund, as well as
portfolio sub-advisor for the growth component of the Frontiers U.S. Equity
Pool, replacing BlackRock Investment Management LLC. This change will be
effective June 1, 2008.
    Aletheia, based in Los Angeles, California, was founded in 1997 and
manages investments primarily for institutional, separately managed and high
net worth accounts. Aletheia's unique proprietary investment process combines
the forensic analysis of balance sheets, insider and corporation actions
behaviour, and direct industry research in order to produce superior results
for investors over the long term. Their consistent approach has resulted in
historically strong performance.
    This change will also benefit the Axiom Portfolios, one of our managed
portfolio solutions, as most of the portfolios invest in the Frontiers U.S.
Equity Pool.

    Sub-advisor change to the Imperial U.S. Equity Pool

    Metropolitan West Capital Management, LLC (MWCM) has been appointed
portfolio sub-advisor for the value component of the Imperial U.S. Equity
Pool, replacing Oppenheimer Asset Management Inc. and Bristlecone Value
Partners, LLC. This change will be effective today, May 1, 2008.
    Evergreen Investments, the asset management company of Wachovia
Corporation, acquired a majority interest in MWCM in 2006. MWCM, founded in
1997, is based in Newport Beach, CA and provides investment services to retail
and institutional clients. Under Evergreen Investment's multiple investment
platform structure, MWCM is empowered to operate independently, maintain their
strategies and approach and retain the team that has driven their success.
    MWCM's large-cap intrinsic value investment approach focusing on
high-quality companies helps to minimize risk and optimize long-term returns.
Their proven investment process has consistently demonstrated their ability to
add value above their benchmark and deliver superior long-term returns with
lower-than-market risk.

    Sub-advisor change to the Renaissance Canadian Balanced Value Fund

    Currently the portfolio sub-advisor of the Canadian component of the
Fund, CIBC Global Asset Management Inc. will now be responsible for investment
management and advisory services for 100% of the assets in the portfolio,
effective May 1, 2008. Oppenheimer Asset Management Inc. and Bristlecone Value
Partners, LLC will no longer manage a portion of the Fund.

    CIBC Asset Management is responsible for the CIBC and Renaissance
Investments families of mutual funds, Frontiers Pools, and the CIBC family of
managed portfolio solutions - Axiom Portfolios, CIBC Managed Portfolio
Services and CIBC Personal Portfolio Services. CIBC Asset Management manages
more than $50 billion in assets.