TORONTO, June 20, 2023 /CNW/ - CIBC today announced changes to the risk ratings of the CIBC Nasdaq Index Fund and CIBC Sustainable Conservative Balanced Solution. The changes will be reflected in the renewal of the CIBC Mutual Funds and CIBC Family of Portfolios Simplified Prospectus, effective on or about June 20, 2023.
The new risk ratings were determined in accordance with the standardized risk classification methodology mandated by the Canadian Securities Administrators. No changes have been made to the investment objectives, investment strategies or management of the affected mutual funds. CIBC reviews the risk rating for each fund at least annually, and makes adjustments whenever the existing investment risk level is no longer appropriate.
Previous Risk Rating
New Risk Rating
CIBC Nasdaq Index Fund
Medium to high
CIBC Sustainable Conservative Balanced Solution
Low to medium
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.