Renaissance Advisor

CIBC Asset Management Announces Portfolio Manager Changes

Toronto, August 15th, 2011 – CIBC Asset Management today announced portfolio manager changes that further enhance its commitment to bringing the highest-quality investment management products and services to Canadian investors.

“We are focused on delivering superior products that maximize returns and manage risk for our clients,” said Steve Geist, President of CIBC Asset Management Inc. “With these changes, we continue our commitment to offering investors the best in choice, value and quality.”

Sub-advisor change to Renaissance Canadian Core Value Fund – Effective September 1, 2011
Wintergreen Advisers, LLC (Wintergreen) has been appointed portfolio sub-advisor for the foreign component of the Renaissance Canadian Core Value Fund.

Established in 2005, Wintergreen is an independent money manager. Wintergreen employs a research driven value style in managing global equities. The firm aims to identify companies currently out of favour with the market, in particular undervalued companies with prospects for significant recovery. The firm was founded by David J. Winters, a seasoned and highly respected investment manager, who was named one of the world’s greatest investors by the Wall Street Journal’s SmartMoney magazine in 2008.

Wintergreen is currently portfolio sub-advisor for the Renaissance Global Markets Fund.

Sub-advisor changes to Renaissance European Fund – Effective September 1, 2011
CIBC Global Asset Management Inc. (CGAM) has been appointed portfolio sub‑advisor for the Renaissance European Fund.

CGAM is one of Canada's largest asset management firms, managing more than $67 billion of assets for clients in Canada and globally (as of 03/31/11). CGAM’s investment professionals combine their knowledge, talent and experience to offer one of Canada’s most comprehensive investment management platforms encompassing a wide variety of investment solutions.