TORONTO, July 25, 2019 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. today announced changes to the risk ratings of the Renaissance Investments mutual funds listed below.

The changes will be reflected in the renewal of the Renaissance Investments family of funds, Axiom Portfolios and Renaissance Private Pools Simplified Prospectus. These changes are effective on or about July 25, 2019.

The new risk ratings were determined in accordance with the 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 funds. The risk rating for each fund is reviewed at least annually or whenever the existing investment risk level is no longer appropriate.

About CIBC

CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Small 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 $130 billion in assets under administration as of May 2019.

SOURCE CIBC Asset Management Inc.