CIBC Asset Management adds American Century Investments as sub-advisor on CIBC Mutual Funds and Imperial U.S. Equity Pool

Toronto, Dec. 20, 2011 – CIBC Asset Management Inc. today announced portfolio sub-advisor changes to further its commitment to bringing the highest-quality investment management products and services to Canadian investors.

"CIBC Asset Management is focused on partnering with the best portfolio managers that deliver superior returns and manage risk for our clients," said Steve Geist, President of CIBC Asset Management. "We are pleased to add American Century Investments to CIBC Mutual Funds and the Imperial U.S. Equity Pool. We are confident that the firm's proven investment management expertise will further enhance the quality of our offering to clients."

Established in 1958, American Century Investment Management, Inc. (ACI) is a leading U.S. investment management firm committed to delivering superior and consistent risk-adjusted performance through active management. Headquartered in Kansas City with offices in New York, California, London and Hong Kong, the firm manages approximately $108 billion in assets (as of November 30, 2011) with 1,300 employees, including more than 160 investment professionals. Earlier this year, CIBC acquired a minority ownership position in ACI.

For the five years ending November 30, 2011, ACI had 89 percent of its rated fund assets under management ranked in the first or second quartile, according to Lipper. The company's funds also ranked third best among its Morningstar peers with 64 percent of assets held in funds with four or five-star ratings as of the end of November, well ahead of the Morningstar Universe average.

Sub-advisor changes to CIBC Disciplined U.S. Equity Fund and CIBC Disciplined International Equity Fund – Effective February 1, 2012
ACI has been appointed portfolio sub-advisor of the CIBC Disciplined U.S. Equity Fund and the CIBC Disciplined International Equity Fund.

Sub-advisor changes to CIBC Global Monthly Income Fund – Effective February 1, 2012
ACI has been appointed portfolio sub-advisor for the global equity component of the CIBC Global Monthly Income Fund.

In conjunction with this change, the fund will now also include exposure to the Renaissance Global Infrastructure Fund sub-advised by RARE Infrastructure Limited and the Renaissance Global Real Estate Fund sub-advised by Cohen & Steers Capital Management, Inc.

Brandywine Global Investment Management LLC and CIBC Global Asset Management Inc. will continue to serve as portfolio sub-advisors for other components of the fund.

Sub-advisor changes to Imperial U.S. Equity Pool – Effective February 1, 2012
ACI has been appointed as an additional portfolio sub-advisor of the Imperial U.S. Equity Pool, managing the U.S. equity all-cap value and all-cap growth components.

Aletheia Research and Management, Inc., Fiduciary Management Inc., Metropolitan West Capital Management, LLC, Tradewinds Global Investors, LLC and CIBC Global Asset Management Inc. will continue to serve as portfolio sub-advisors for other components of the pool.

Portions of the mutual fund performance information contained herein were supplied by Lipper, a Reuters Company, subject to the following: Copyright 2011 Reuters. All rights reserved. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. Performance data is preliminary and subject to revision.

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