CIBC Multi-Asset Absolute Return Strategy (US$) [Series F]

The Fund's investment objective is to achieve a positive absolute return that exceeds the return of the Government of Canada 91-day treasury bills over rolling three-year periods, regardless of the prevailing economic conditions, by actively managing a diversified portfolio with direct and indirect exposure primarily to equity securities, fixed income securities, commodities, currencies, and derivatives investments.

In pursuing the Fund's investment objective, the Portfolio Advisor:

  • Aims to achieve a positive absolute return by targeting, over rolling three-year periods, an annualized return of 5% in excess of the Government of Canada 91-day treasury bills (gross of fees and expenses)
  • Aims to achieve an annualized volatility, under normal market conditions, at a level that is generally half the volatility of global equities represented by the MSCI AC World Index (CAD) measured over the same three-year rolling periods; for this purpose, volatility is the measure of the extent to which the prices of the Units of the Fund fluctuate over time as measured by its standard deviation
Also available in Series A

Minimum Initial Investment:
Lump Sum
Initial: $500
Subsequent: $100

Distributions: The Fund expects to distribute net income semi-annually. Distributions of net realized capital gains are expected to occur annually in December of each year, though the Fund may also make distributions of income, capital gains and/or capital at any other time the Manager considers appropriate. All the Fund's distributions will be automatically reinvested in additional Units of the same series of Units of the Fund, unless your dealer has advised the Manager otherwise.
Pre-Authorized Chequing Investment: N/A
Systematic Withdrawal Plan: N/A
Annual Management Fee (excluding applicable taxes): 0.90%
Annual Fixed Administration Fee (excluding applicable taxes): 0.20%
Inception DateOct 28, 2019
Fund CodeATL5015
Assets Under Management ($000)
As at : 01/31/2024
$572,322

CIBC Asset Management (CIBC AM) is one of Canada's largest asset management firms and provides a broad range of high-quality global investment management solutions to retail and institutional clients.

Francis Thivierge, CFA

Senior Portfolio Manager, Multi-Asset & Currency Management

Francis Thivierge leads the portfolio management activities for multi-asset strategies. In this role, he determines the strategies across equities, bonds and other asset classes and oversees their implementation in portfolios. Mr. Thivierge is also responsible for the development of investment processes underpinning the asset allocation and multi-asset strategies. Mr. Thivierge joined CIBC Asset Management's predecessor firm in 1996. Prior to his current role, he held various positions on the Derivatives team, including Vice-President, Assistant Vice-President and Quantitative Analyst. Mr. Thivierge holds a Master of Finance from Université de Sherbrooke and a Bachelor of Actuarial Science Degree from Laval University. He is also a CFA charterholder.

Michael Sager, Ph. D.

Managing Director & Head, Multi-Asset & Currency Management

Michael Sager is a member of the CIBC Client Portfolio Manager team. Dr. Sager partners with all CIBC distribution channels to deliver targeted thought leadership, education, and investment perspective to clients and consultants.

Bernard Augustin

Director, Quantitative Research, Multi-Asset & Currency Management

Bernard Augustin leads the Quantitative Research group within the Multi-Asset & Currency Management team. He is responsible for evaluating, enhancing & developing quantitative research procedures and tools.

Prior to joining CIBC Asset Management in 2020, Mr. Augustin was Deputy Chief Investment Officer at Fiera Capital. Previously, he held portfolio management and head of research roles in fixed income (Addenda Capital), equity & derivatives (Ontario Teachers') teams. He served as Head of Public Markets at PSP Investments and National Practice Leader for Financial Risk Consulting at Aon. He started his investment career at BARRA in equity risk modelling and consulting.

Mr. Augustin holds Master & Bachelor (Honours) of Economics degrees from Concordia University.

Giuseppe Pietrantonio, CFA

Associate, Client Portfolio Manager - Multi-Asset & Currency Management

Giuseppe Pietrantonio is a member of the CIBC Client Portfolio Manager team. Mr. Pietrantonio partners with all CIBC distribution channels to deliver targeted thought leadership, education, and investment advice and perspective to clients and consultants.

Mr. Pietrantonio started his career with CIBC Asset Management in 2011. In his most recent position, he was a Manager on the Trading Systems team where he developed and implemented a currency management system. Prior to that, he held the positions of Portfolio Analyst and Corporate Actions Coordinator.

Mr. Pietrantonio holds a MBA degree and a BComm degree in Finance from Concordia University. He is also is a CFA charterholder and a member of the CFA Society of Montreal.

Performance
3 mo6 moYTD1 yr3 yrs5 yrs10 yrsSince Inception
6.5%5.8%1.0%5.8%(3.0%)N/AN/A0.0%
3 mo
6 mo
YTD
1 yr
3 yrs
5 yrs
10 yrs
Since Inception
6.5%
5.8%
1.0%
5.8%
(3.0%)
N/A
N/A
0.0%

As at: 01/31/2024

Calendar Year Performance
2023202220212020201620152014201320122011
6.5%(17.1%)1.4%10.70%N/AN/AN/AN/AN/AN/A
2023
2022
2021
2020
2016
2015
2014
2013
2012
2011
6.5%
(17.1%)
1.4%
10.70%
N/A
N/A
N/A
N/A
N/A
N/A
Investment Performance

Value of $10,000 invested since inception

The rate of return or mathematical table shown is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the fund or returns on investment in the fund.

†Please refer to the Annual/Interim Management Reports of Fund Performance for further details.

There can be no guarantee that the Fund will achieve its return and volatility targets. All investment performance is inherently subject to significant uncertainties and contingencies, many of which are beyond the Manager's control. In considering the return and volatility targets, you should bear in mind that such targeted performance and volatility is not a guarantee, projection or prediction and is not indicative of future results of the Fund.

The fund will make significant use of derivatives. The fund may use derivatives such as futures, forwards, swaps, options, covered warrants, debt like securities which have an option component or any combination of these instruments, the value of which is based upon the market price value or level of an index, or the market price or value of a security, currency, commodity or financial instrument. Derivative instruments may be used for the following purposes: to hedge, gain or reduce portfolio exposures. The fund may also use derivatives for currency management purposes. The fund's use of derivatives may introduce leverage into the fund. Leverage occurs when the fund's notional exposure to underlying assets is greater than the amount invested and is an investment technique that can magnify gains and losses. The information does not constitute legal or tax advice.

The Fund pays a management fee and fixed administration fee to the Manager in respect of Series A, Series F and Series O units. The Fund also pays fund costs and transaction costs. For more information about the fees and costs of the Fund, please read the prospectus.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the Renaissance Investments family of funds simplified prospectus before investing. The indicated rates of return are the historical annual compounded total returns for the class A units including changes in unit value and reinvestment of all distributions, but do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not guaranteed. The values of many mutual funds change frequently. Past performance may not be repeated.