TORONTO, Nov. 23, 2020 /CNW/ - CIBC (TSX: CM) (NYSE: CM) CIBC Asset Management is pleased to have received 12 awards across eight fund categories at the 2020 Refinitiv Lipper Fund Awards. These wins emphasize the high-quality investment management services and solutions CIBC provides to individual and institutional investors, and our commitment to making our clients' ambitions a reality.

"These awards underscore the commitment of our investment managers, whether they are in-house or experts from around the world. Together, the team is dedicated to delivering their best for our investors so they can achieve their ambitions," said David Scandiffio, President of CIBC Asset Management Inc.

Lipper is a leader in providing global fund analysis, information and analytic tools. These awards recognize funds that excel in providing consistently strong, risk-adjusted relative performance. The Refinitiv Lipper Fund Awards is part of a global program held in 21 countries, including the United States, Hong Kong and the UK. Award winners are among the 130,000 funds that Lipper tracks globally every year.

CIBC Asset Management is the portfolio advisor for the CIBC and Renaissance Investments families of mutual funds, CIBC ETFs, and the CIBC family of managed portfolio solutions - Axiom Portfolios, Smart Investment Solutions and Personal Portfolios Services. CIBC Asset Management manages more than $148 billion in assets.

About CIBC

CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and 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 Inc.

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.

This document is provided for general informational purposes only and does not constitute financial, investment, tax, legal or accounting advice nor does it constitute an offer or solicitation to buy or sell any securities referred to. Individual circumstances and current events are critical to sound investment planning; anyone wishing to act on this document should consult with his or her advisor. All opinions and estimates expressed in this document are as of the date of publication unless otherwise indicated, and are subject to change. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the simplified prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. ®CIBC Asset Management and the CIBC logo are registered trademarks of Canadian Imperial Bank of Commerce (CIBC), used under license. The material and/or its contents may not be reproduced without the express written consent of CIBC Asset Management Inc.

Renaissance Floating Rate Income Class A was awarded the 2020 Lipper Fund Award in Floating Rate Loan for the 3-year period ending July 31, 2020 out of a total of 11 funds. Renaissance Global Bond Class A was awarded the 2020 Lipper Fund Award in Global Fixed Income for the 10-year period ending July 31, 2020 out of a total of 21 funds. Renaissance Global Small-Cap Class A was awarded the 2020 Lipper Fund Award in Global Small/Mid Cap Equity for the 3-year period ending July 31, 2020 out of a total of 26 funds. Renaissance Global Small-Cap Class A was awarded the 2020 Lipper Fund Award in Global Small/Mid Cap Equity for the 5-year period ending July 31, 2020 out of a total of 25 funds. Renaissance U.S. Dollar Corporate Bond Class A was awarded the 2020 Lipper Fund Award in Global Corporate Fixed Income for the 5-year period ending July 31, 2020 out of a total of 10 funds.

Renaissance U.S. Dollar Diversified Income Class A was awarded the 2020 Lipper Fund Award in Global Fixed Income Balanced for the 3-year period ending July 31, 2020 out of a total of 69 funds. Renaissance U.S. Dollar Diversified Income Class A was awarded the 2020 Lipper Fund Award in Global Fixed Income Balanced for the 5-year period ending July 31, 2020 out of a total of 50 funds. CIBC U.S. Dollar Managed Income Class A was awarded the 2020 Lipper Fund Award in Canadian Fixed Income Balanced for the 3-year period ending July 31, 2020 out of a total of 79 funds. CIBC Global Technology Class A was awarded the 2020 Lipper Fund Award in Global Equity for the 3-year period ending July 31, 2020 out of a total of 210 funds. CIBC Global Technology Class A was awarded the 2020 Lipper Fund Award in Global Equity for the 5-year period ending July 31, 2020 out of a total of 181 funds. CIBC Balanced Index Class A was awarded the 2020 Lipper Fund Award in Canadian Fixed Income Balanced for the 5-year period ending July 31, 2020 out of a total of 74 funds. CIBC Nasdaq Index Class A was awarded the 2020 Lipper Fund Award in US Equity for the 10-year period ending July 31, 2020 out of a total of 89 funds.

Performance for the Renaissance Floating Rate Income Class A fund for the period ended October 31, 2020 is as follows: 2.7% (1 year), 3.4% (3 years), 3.2% (5 years), and 5.8% (since inception on September 16, 2013). The corresponding Lipper Leader ratings of the fund for the same period are as follows: N/A (1 year), 5 (3 years), 4 (5 years), N/A (10 years). Performance for the Renaissance Global Bond Class A fund for the period ended October 31, 2020 is as follows: 2.6% (1 year), 2.0% (3 years), 2.8% (5 years), 4.2% (10 years) and 3.9% (since inception on October 21, 1992). The corresponding Lipper Leader ratings of the fund for the same period are as follows: N/A (1 year), 2 (3 years), 3 (5 years), 4 (10 years). Performance for the Renaissance Global Small-Cap Class A fund for the period ended October 31, 2020 is as follows: 23.7% (1 year), 15.1% (3 years), 12.4% (5 years), 13.0% (10 years) and 8.7% (since inception on February 2, 1998). The corresponding Lipper Leader ratings of the fund for the same period are as follows: N/A (1 year), 4 (3 years), 3 (5 years), 1 (10 years). Performance for the Renaissance U.S. Dollar Corporate Bond Class A fund for the period ended October 31, 2020 is as follows: 6.2% (1 year), 4.7% (3 years), 5.0% (5 years) and 4.4% (since inception on September 16, 2013). The corresponding Lipper Leader ratings of the fund for the same period are as follows: N/A (1 year), 5 (3 years), 4 (5 years), N/A (10 years). Performance for the Renaissance U.S. Dollar Diversified Income Class A fund for the period ended October 31, 2020 is as follows: 3.8% (1 year), 4.5% (3 years), 5.5% (5 years) and 4.8% (since inception on September 16, 2013). The corresponding Lipper Leader ratings of the fund for the same period are as follows: N/A (1 year), 5 (3 years), 5 (5 years), N/A (10 years). Performance for the CIBC U.S. Dollar Managed Income Class A fund for the period ended October 31, 2020 is as follows: 4.0% (1 year), 3.5% (3 years), 3.4% (5 years), 2.8% (10 years) and 3.5% (since inception on October 28, 2002). The corresponding Lipper Leader ratings of the fund for the same period are as follows: N/A (1 year), 5 (3 years), 4 (5 years), 5 (10 years). Performance for the CIBC Global Technology Class A  fund for the period ended October 31, 2020 is as follows: 46.1% (1 year), 23.9% (3 years), 20.2% (5 years), 19.3% (10 years) and 8.7% (since inception on December 11, 1995). The corresponding Lipper Leader ratings of the fund for the same period are as follows: N/A (1 year), 5 (3 years), 5 (5 years), 5 (10 years). Performance for the CIBC Balanced Index Class A fund for the period ended October 31, 2020 is as follows: 2.0% (1 year), 3.5% (3 years), 4.7% (5 years), 5.1% (10 years) and 4.4% (since inception on December 4, 1998). The corresponding Lipper Leader ratings of the fund for the same period are as follows: N/A (1 year), 3 (3 years), 5 (5 years), 5 (10 years). Performance for the CIBC Nasdaq Index Class A fund for the period ended October 31, 2020 is as follows: 37.5% (1 year), 21.8% (3 years), 19.0% (5 years), 20.8% (10 years) and 4.9% (since inception on September 26, 2000). The corresponding Lipper Leader ratings of the fund for the same period are as follows: N/A (1 year), 5 (3 years), 5 (5 years), 5 (10 years).

The Lipper Fund Awards, granted annually, are part of the Thomson Reuters Awards for Excellence awarded by Lipper, Inc. and highlight funds that have excelled in delivering consistently strong risk-adjusted performance relative to their peers.  The Lipper Fund Awards are based on the Lipper Ratings for Consistent Return, which is a risk-adjusted performance measure calculated over 36, 60 and 120 month periods.  The highest 20% of funds in each category are named Lipper Leaders for Consistent Return and receive a score of 5, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2 and the lowest 20% are scored 1.  The highest Lipper Leader for Consistent Return in each category wins the Lipper Fund Award.  Lipper Leader ratings change monthly.  For more information, see www.lipperweb.com. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. 

Lipper Fund Awards from Refinitiv, ©2020 Refinitiv. All rights reserved. Used under license.

SOURCE CIBC Asset Management