TORONTO, Oct. 29, 2020 /CNW/ - CIBC (TSX: CM) (NYSE: CM) — Today CIBC Asset Management Inc. launched three new actively-managed ETF series for CIBC Conservative Fixed Income Pool, CIBC Core Fixed Income Pool and CIBC Core Plus Fixed Income Pool. These new ETF series will provide investors with access to advanced bond strategies in a simple one-ticket solution.
"Building on the successful performance of our fixed income pool products, we are pleased to offer these investment solutions in an ETF series which will allow investors greater flexibility in their portfolios," says David Scandiffio, President and CEO, CIBC Asset Management.
Composed of a diverse mix of mutual funds and exchange-traded funds, the CIBC Fixed Income Pools are designed to be a long-term core bond holding and feature built-in rebalancing and tactical asset allocation. They include actively-managed investments in government and corporate bonds across the spectrum of investment-grade and high-yield, geography and currency.
CIBC Conservative Fixed Income Pool - ETF series, CIBC Core Fixed Income Pool - ETF series and CIBC Core Plus Fixed Income Pool - ETF series have closed initial offering of units and will begin trading on the Toronto Stock Exchange today. More on the new ETF series can be found here.
ETF series name
Management fee (%)*
CIBC Conservative Fixed Income Pool -ETF series
CIBC Conservative Fixed Income Pool - ETF series - seeks to generate regular income. Invests primarily in units of other mutual funds that invest in fixed income securities.
CIBC Core Fixed Income Pool - ETF series
CIBC Core Fixed Income Pool - ETF series - seeks to generate regular income with a secondary focus on modest long-term capital appreciation. Invests primarily in units of other mutual funds that invest in fixed income securities.
CIBC Core Plus Fixed Income Pool - ETF series
CIBC Core Plus Fixed Income Pool – ETF series - seeks to generate regular income and modest long-term capital appreciation. Invests primarily in units of other mutual funds that invest in fixed income securities.
*The management fee is equal to the fee paid by the CIBC Fixed Income Pool – ETF series to CIBC Asset Management Inc. and does not include applicable taxes or other fees and expenses of the CIBC Fixed Income Pool – ETF series. ETF series of the CIBC Fixed Income Pools are managed by CIBC Asset Management Inc., a subsidiary of Canadian Imperial Bank of Commerce. Commissions, management fees and expenses all may be associated with investments in ETF series of the CIBC Fixed Income Pools. Please read the CIBC Fixed Income Pools prospectus or ETF Facts of the ETF series before investing. To obtain a copy, call 1-888-888-3863, ask your advisor or visit www.cibc.com/etfs. ETF series are not guaranteed, their values change frequently and past performance may not be repeated. ETF series of the CIBC Fixed Income Pools are offered by registered dealers.
CIBC is a leading North American financial institution with 10 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/ca/media-centre.
About CIBC Asset Management
CIBC Asset Management, Inc. (CAM), the asset management subsidiary of CIBC, provides a range of high-quality investment management services and solutions to retail and institutional investors. CAM's offerings include: a comprehensive platform of mutual funds, strategic managed portfolio solutions, discretionary investment management services for high-net-worth individuals, and institutional portfolio management. CAM is one of Canada's largest asset management firms, with over $148 billion in assets under administration as of September 2020.