TORONTO, June 8, 2022 /CNW/ - CIBC (TSX: CM) (NYSE: CM) — CIBC Asset Management Inc. (CAM) today announced the launch of two new fixed income solutions, managed by PIMCO Canada Corp. (PIMCO). These solutions aim to deliver client outcomes ranging from income generation to modest long-term capital appreciation over time.
"CIBC Asset Management is proud to partner with a world-class investment firm such as PIMCO," said David Scandiffio, President and Chief Executive Officer, CIBC Asset Management. "Through our sub-advisory partnership with PIMCO, we are providing clients with access to the fixed income exposures they need to build and protect their wealth regardless of shifting market conditions."
To accommodate the risk and reward preferences of individual investors, there are two solutions available:
CIBC Diversified Fixed Income Fund: Is an option for income-oriented investors who are seeking a bond investment that offers the potential for a consistent stream of income with an emphasis on high-quality fixed income securities. The fund will primarily invest in units of an underlying fund, the PIMCO Monthly Income Fund (Canada) managed by PIMCO. The underlying fund's multi-sector approach allows it to seek out the best income-generating ideas in any given market climate, targeting multiple sources of income from a global opportunity set.
CIBC Global Credit Fund: Is an option for investors seeking to take advantage of global bond opportunities that may provide an incremental yield advantage over developed market government bonds. These sectors include primarily investment grade credit, high yield and emerging market bonds, as well as other credit sectors appearing to offer relative value.
For more information on the funds visit www.renaissanceinvestments.ca to view the funds' simplified prospectus.
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 is a leading North American financial institution with 11 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/en/about-cibc/media-centre.html.
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 $160 billion in assets under administration as of April 2022.