TORONTO, Sept. 1, 2016 /CNW/ - CIBC Asset Management Inc. today announced the addition of Standard Life Investments (Corporate Funds) Limited (Standard Life) as a portfolio sub-advisor for Imperial Global Equity Income Pool. This change will take effect on or about September 15, 2016.

"We constantly monitor our product line-up to ensure we continue to deliver enhanced performance and risk-adjusted returns to our clients," said David Scandiffio, President and CEO, CIBC Asset Management. "The increased size of Imperial Global Equity Income Pool, based largely on the success of CIBC Personal Portfolio Services, provides an opportunity to optimize its overall structure. This addition is expected to benefit our clients and strengthen our investment offering." 

Standard Life joins existing sub-advisors, KBI Global Investors Ltd. (formerly Kleinwort Benson Investors Dublin Ltd.) and Newton Investment Management (North America) Limited on Imperial Global Equity Income Pool. The addition of Standard Life provides an investment management style that is complementary to the existing sub-advisors.

Standard Life is a leading asset manager with an expanding global reach. The company calls its distinctive investment philosophy 'Focus on Change'. The investment approach is based on an analysis of the key factors driving the market price of an investment and the identification of drivers that the wider market may have missed. The company aims to capture anomalies and inefficiencies between consensus and non-consensus analysis of companies. Standard Life manages over $466 billion in assets as of June 30, 2016.

About CIBC

CIBC is a leading Canadian-based global financial institution with 11 million personal banking and business clients. Through our three major business units – Retail and Business Banking, Wealth Management and Wholesale Banking – CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada with offices in the United States and around the world. You can find other news releases and information about CIBC on our corporate website at www.cibc.com/ca/media-centre/.

About CIBC Asset Management

CIBC Asset Management Inc., the asset management subsidiary of CIBC, provides a range of high-quality investment management services and solutions to retail and institutional investors. Offerings include: a comprehensive platform of mutual funds, strategic managed portfolio solutions, discretionary investment management services for high-net-worth individuals, and portfolio management for institutional clients. CIBC Asset Management is one of Canada's largest asset management firms, with over $114 billion in assets under management as of June 30, 2016.  

SOURCE Canadian Imperial Bank of Commerce