TORONTO, April 28, 2017 /CNW/ - CIBC (TSX: CM) (NYSE: CM) - CIBC Asset Management Inc. today announced that Sydney, Australia-based Maple-Brown Abbott Limited (MBA) has been appointed as portfolio sub-advisor for the Renaissance Global Infrastructure Fund. This change will take effect on or about June 27, 2017.

"We continually evaluate our product lineup to ensure that investors are in the best position to receive strong, risk-adjusted returns from portfolio managers around the world," says David Scandiffio, President and CEO, CIBC Asset Management. "The enhancement announced today is expected to benefit our clients and strengthen our investment offering." 

Established in 1984, MBA is an investment management company that specializes in the management of global listed infrastructure securities and multi-asset  investment portfolios, Australian equities and Asia Pacific ex-Japan equities.

With a focused view of infrastructure, MBA brings to the fund a highly differentiated approach. A key component of MBA's investment philosophy is the belief that low volatility, inflation protection, and strong corporate governance and management expertise are important investment objectives for investors in the global infrastructure asset class. The firm identifies core infrastructure assets that best demonstrate these characteristics. 

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 Inc. is one of Canada's largest asset management firms, with over $124 billion in assets under management as of March 31, 2017.                       

SOURCE Canadian Imperial Bank of Commerce