News

CIBC Asset Management Adds Hamon Investment Management Limited to its Line-up of World-Class Investment Managers

May 2, 2007

CIBC Asset Management Inc. announced today the appointment of Hamon Investment Management Limited ("Hamon") as portfolio sub-advisor of the Talvest China Plus Fund and the Talvest Asian Fund. This change is effective immediately.

Hamon is an independent asset management firm established in 1989 that specializes in Asian investment. Based in Hong Kong, Hamon has an extensive range of relationships and associations throughout the region. Its clients include pension funds, corporations, financial institutions and family trusts.

"We are pleased to have Hamon join CIBC Asset Management's roster of world-class investment managers, given their proven success and expertise in the Asian investment arena," said Steve Geist, President of CIBC Asset Management Inc., "They bring a strong track record to these Funds and local knowledge of this dynamic and increasingly important global market."

Hamon is led by an experienced management team, drawn from a wide variety of backgrounds, with solid fund management and research expertise. It has consistently demonstrated the ability to identify, evaluate and act on emerging trends in the rapidly evolving Asian markets.

With a "bottom-up" approach, Hamon actively manages funds with a core style: growth or value depending on the economic and liquidity cycle. It focuses on opportunities in different industries across the Asian countries, and its strategy is performance-driven rather than market cap-driven.

The Funds' investment objectives will not change. The Talvest China Plus Fund seeks long-term growth through capital appreciation by investing primarily in equity securities of companies based in China, Hong Kong and Taiwan or that conduct a majority of their commercial activities in either one or all of these countries. The Talvest Asian Fund's objective is to achieve long-term growth through capital appreciation by investing primarily in a diversified portfolio of equity securities or securities convertible to equity securities of companies in the Asian and Pacific regions. Hamon replaces CIBC Global Asset Management (Asia) Limited as portfolio sub-advisor of these two Funds.

CIBC is a leading North American financial institution with more than 11 million personal banking and business customers. CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, in the United States and around the world. You can find other news releases and information about CIBC in our Press Centre on our corporate website at www.cibc.com.

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Media contact: Rod Cumming, Senior Director, CIBC Communications and Public Affairs, at 416-304-5567. Product inquiries: CIBC Asset Management Client Services 1-888-888-3863.