TORONTO, April 26 /CNW/ - CIBC Asset Management Inc., the manager of the Frontiers Pools, announced today a sub-advisor change to the Frontiers International Equity Pool.

Effective May 2, 2011, del Rey Global Investors, LLC (del Rey) has been appointed portfolio sub-advisor for the large-cap value component of the Frontiers International Equity Pool. Pictet Asset Management Limited and Walter Scott & Partners Limited will continue to serve as portfolio sub-advisors of the Pool.

"We are focused on partnering with top portfolio managers to maximize returns and manage risk for our clients," said Steve Geist, President of CIBC Asset Management Inc. "We are pleased to have del Rey on our platform. Paul Hechmer, the lead portfolio manager, has demonstrated the ability to consistently outperform the MSCI EAFE Index over both short- and long-term periods, and we are confident he and his team will add strength to the overall performance of the Pool."

The firm focuses on international and global strategies for institutional and retail investors. Using a research-driven, bottom-up, value-based approach, del Rey aims to deliver long-term capital appreciation by investing worldwide across a diversified range of equity securities and mid to large market capitalizations. In most markets, del Rey believes it is possible to identify companies selling for less than their intrinsic value. By investing in high-quality, undervalued companies, del Rey can create value for clients in both up and down markets.

This change will also benefit the Axiom Portfolios - the managed portfolio solutions offered by Renaissance Investments - that invest in the Frontiers International Equity Pool.

CIBC Asset Management, the asset management division of CIBC, 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.