TORONTO, Feb. 27, 2023 /CNW/ - CIBC (TSX: CM) (NYSE: CM) — CIBC Asset Management Inc. (CAM) today announced the extension of its ETF (exchange-traded fund) line-up by launching the CIBC International Equity Index ETF (CAD-Hedged) (CIEH). This new ETF aims to replicate the performance of a broad international equity market index by Morningstar Research Inc., an independent investment research and index provider. CAM is pleased to leverage Morningstar's high-calibre index construction capabilities to present low-cost, diversified solutions for our clients' investment needs.

The CIBC International Equity Index ETF (CAD-Hedged) offers investors broad exposure to international equities, hedged to the Canadian dollar and builds upon the core CIBC Index ETFs CAM launched on January 23, 2023. CAM now offers nine low cost CIBC Index ETFs designed to cover the core exposures in a typical asset allocation strategy.

With the launch of these products, CAM will offer a diverse range of ETFs encompassing active, quantitative and competitively priced index ETFs which are among the lowest-cost ETFs currently available in the Canadian market. These solutions draw upon the deep knowledge and expertise that CAM has successfully built and demonstrated over the years.  

The CIBC International Equity ETF's initial offering of units begins trading on the Toronto Stock Exchange today. More details about our CIBC's ETF line-up can be found here.

CIBC ETFs 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 exchange traded funds (ETFs). Please read the CIBC ETFs prospectus or ETF Facts document before investing. To obtain a copy, call 1-888-888-3863, ask your advisor or visit www.cibc.com/etfs. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated.

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.

Morningstar® Developed Markets ex-North America Target Market Exposure Hedge CAD Index™ is a trademark or service mark of Morningstar, Inc. and have been licensed for use for certain purposes by CIBC Asset Management Inc. CIBC International Equity Index ETF (CAD-hedged) (the "CIBC Index ETF") is not sponsored, endorsed, sold or promoted by Morningstar, and Morningstar makes no representation regarding the advisability of investing in the CIBC Index ETF.

CIBC is a leading North American financial institution with 13 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, with offices 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.

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 $170 billion in assets under administration as of November 2022.

SOURCE CIBC