CIBC Asset Management Announces Portfolio Sub-Advisor Changes

CIBC Asset Management Inc. has announced portfolio sub-advisor changes to further strengthen its core investment solutions with the addition of Morgan Stanley Investment Management Inc. (MSIM) and Rothschild Asset Management Inc. on certain mandates effective on or about December 16, 2016, and January 24, 2017, respectively.

Renaissance U.S. Equity Private Pool
MSIM and Rothschild Asset Management Inc. have been appointed as portfolio sub-advisors for Renaissance U.S. Equity Private Pool. They join existing sub-advisors INTECH Investment Management LLC, Pzena Investment Management, LLC, and Sustainable Growth Advisers, LP.

The Renaissance U.S. Equity Private Pool is an underlying investment of the Renaissance Private Investment Program.

Renaissance U.S. Equity Value Fund
Rothschild Asset Management Inc. has been appointed portfolio sub-advisor for Renaissance U.S. Equity Value Fund.

About the Newly Appointed Portfolio Sub-Advisory Firms

Morgan Stanley Investment Management Inc.: Morgan Stanley Investment Management Inc., a wholly owned subsidiary of Morgan Stanley, is dedicated to providing investment and risk-management solutions to a wide range of investors and institutions. Its investment strategies span the risk/return spectrum across geographies, investment styles and asset classes. It has more than four decades of asset management experience and over $417 billion USD in assets under management as of September 30, 2016.

Rothschild Asset Management Inc.: Rothschild Asset Management Inc. is a wholly owned subsidiary of Rothschild North America Inc. It manages investments covering a range of U.S. securities and seeks to provide superior performance while controlling risk. Rothschild Asset Management Inc. manages assets for a broad range of clients, offers alternative private funds to qualified investors and sub-advises risk-based products. It is guided by an investment philosophy that seeks to add value through stock selection while seeking to mitigate benchmark risk.