TORONTO, Dec. 12, 2017 /CNW/ - CIBC (TSX: CM) (NYSE: CM) and CIBC Asset Management Inc., managers of the Income Generation Portfolios and Renaissance Private Pools, respectively, today announced changes to the risk ratings of the portfolios and pools listed below. The changes will be reflected in renewals of the Imperial Pools and Income Generation Portfolios Simplified Prospectus and the Renaissance Private Pools Simplified Prospectus. These changes are effective on or about December 12, 2017.
The new risk ratings were determined in accordance with the new standardized risk classification methodology mandated by the Canadian Securities Administrators. No changes have been made to the investment objectives, investment strategies or management of the affected portfolios and pools. The managers of the Income Generation Portfolios and Renaissance Private Pools review the risk rating for each portfolio and pool at least annually, and make adjustments whenever the existing investment risk level is no longer appropriate.
|
Name |
Previous Risk Rating |
New Risk Rating | |
|
Income Generation Portfolios | |||
|
Balanced Income Portfolio |
Low to Medium |
Low | |
|
Enhanced Income Portfolio |
Medium |
Low to Medium | |
|
Renaissance Private Pools | |||
|
Renaissance Equity Income Private Pool |
Medium |
Low to Medium | |
|
Renaissance Multi-Asset Global Balanced Income Private Pool |
Low to Medium |
Low | |
|
Renaissance Multi-Sector Fixed Income Private Pool—hedged classes* |
Low to Medium |
Low | |
|
* The change in risk rating applies only to H-Premium, H-Premium T4, H-Premium T6, FH-Premium, FH-Premium T4, FH-Premium T6, NH-Premium, NH-Premium T4, NH-Premium T6 and OH classes of the pool. Premium, Premium-T4, Premium-T6, F-Premium, F-Premium T4, F-Premium T6, N-Premium, N-Premium T4, N-Premium T6, S and O classes will retain their Low to Medium risk rating. | |||
About CIBC
CIBC is a leading Canadian-based global financial institution with 11 million personal banking, business, public sector and institutional clients. Across Personal and Small Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html.
About CIBC Asset Management Inc.
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, strategically 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 $125 billion in assets under management as of September 30, 2017.
SOURCE CIBC
