TORONTO, Nov. 16, 2022 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. (CAM) today announced that the CIBC Emerging Markets Local Currency Bond Fund, managed by CAM, is now available for investors to purchase. This solution is an actively managed emerging market debt and currency fund. This fund can complement a core bond portfolio by aiming to provide additional yield, the potential for long-term capital appreciation, as well as attractive diversification benefits which reflect the low historical correlations of emerging market debt with many traditional asset classes.
"As inflation and rising interest rates continue to impact global markets, many investors are looking to further diversify their portfolios to include a strategic allocation to emerging market debt," said David Scandiffio President and Chief Executive Officer, CIBC Asset Management. "The CIBC Emerging Markets Local Currency Bond Fund is a valuable addition to a well-constructed portfolio. It seeks to provide investors with access to primarily sovereign fixed income securities of emerging market countries, denominated in local currency, that offer the potential for income and long-term capital appreciation."
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.
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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 $160 billion in assets under administration as of July 2022.