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Renaissance Investments Launches Tax-Efficient Corporate Bond Capital Yield Fund

TORONTO, Nov. 18 /CNW/ - In response to investors' clear demand for yield, Renaissance Investments launched the Renaissance Corporate Bond Capital Yield Fund, available for purchase today. This fund offers investors exposure to higher yielding corporate bonds, which are a compelling investment opportunity in today's market environment, with tax-efficient monthly distributions.

"We are excited to add this innovative new product to our Renaissance Investments line-up," said Steve Geist, President of CIBC Asset Management. "Now more than ever, investors are looking for higher yielding fixed income solutions which are also tax-efficient. We believe the Renaissance Corporate Bond Capital Yield Fund will deliver on both fronts."

The fund seeks to generate tax-efficient returns, primarily through exposure to its reference fund, the Renaissance Corporate Bond Fund. The corporate bond mandate of the reference fund is managed by CIBC Global Asset Management Inc., one of the largest fixed-income investment managers in Canada. CIBC Global Asset Management's process includes both top-down and bottom-up analysis of a combination of fundamental and technical factors. Their approach is based on rigorous in-house credit research to identify issuers that meet their exacting investment criteria. The portfolio will be diversified across industry group and credit rating.

Renaissance Investments is offered by CIBC Asset Management Inc. CIBC Asset Management, the asset management division of CIBC, is responsible for the CIBC and Renaissance Investments families of mutual funds, Frontiers Pools, the CIBC family of managed portfolio solutions - Axiom Portfolios, CIBC Managed Portfolio Services and CIBC Personal Portfolio Services - and CIBC's leading separately managed account program, CIBC Wood Gundy Investment Consulting Service. CIBC Asset Management manages more than $50 billion in assets.

For further information: Media contact: Doug Maybee, Director, CIBC Media Relations at (416) 980-7458. Product inquiries: Renaissance Investments Client Services, 1-888-888-FUND (3863)