CIBC Asset Management Inc. announces portfolio sub-advisor changes and management fee reductions on certain global equity funds

CIBC Asset Management Inc. (CAM) today announced changes to select global equity products, to continue to bring value to clients through world-class investment management capabilities and better pricing. Portfolio sub-advisor changes are as follows:

Renaissance International Dividend Fund

CIBC Asset Management Inc. will directly provide investment management services to Renaissance International Dividend Fund effective on or about April 1, 2020.

Renaissance Global Markets Fund

CIBC Asset Management Inc. will directly provide investment management services to Renaissance Global Markets Fund effective on or about March 2, 2020.In addition, CIBC Asset Management Inc. will also reduce management fees on the Renaissance International Dividend Fund and Renaissance Global Markets Fund effective on or about January 30, 2020 as set out in the table below:

FundCurrent Management Fee (%)New Management Fee (%)
Renaissance International Dividend Fund - Class A1.701.45
Renaissance International Dividend Fund - Class F0.950.70
Renaissance Global Markets Fund - Class A1.751.70
Renaissance Global Markets Fund - Class F0.750.70

If you have any questions, please contact your CIBC Asset Management sales representative.