TORONTO, Nov. 21, 2011 /CNW/ - CIBC (TSX: CM) (NYSE: CM) has launched new Premium and Institutional Classes of all the CIBC Index Funds, enhancing the existing strong lineup of index funds. Our new Premium and Institutional Classes offer even greater value through lower management fees.

"We are pleased to provide investors with extremely competitive pricing options and access to quality investment solutions. As an extension of one of Canada's largest families of index funds, the new classes offer additional choices for investors who wish to utilize a passive investment strategy to complement their overall portfolio," said Steve Geist, President of CIBC Asset Management.

"This new offer positions CIBC Index Funds as a competitive alternative to Exchange Traded Funds, especially for advisors who focus on mutual funds."

CIBC Index Funds Offer Competitive Pricing

Both these new classes are subject to an initial minimum investment of $50,000. Institutional Class units will only be available to clients participating in fee-based programs, while Premium Class units will be open to all investors meeting the minimum investment criteria.

In addition, we have introduced Premium Class units on the CIBC Short-term Income Fund, which further improves the pricing of our existing fixed-income category.

CIBC is a leading North American financial institution with nearly 11 million personal banking and business clients. 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.

*While the manager intends to meet the stated target MER and will waive management fees or absorb certain expenses to do so, we may discontinue this practice at any time without notice.