CIBC Asset Management announces changes to mutual fund line-up

CIBC Asset Management today announced portfolio management changes and fee reductions to certain funds, as we continue to enhance our product solutions for investors.

Portfolio advisory changes
Effective on or about December 9, 2020 and January 29, 2021, portfolio management responsibilities for the following funds will be assumed or reallocated to the portfolio advisor and/or portfolio sub-advisors as outlined below.

Fund

Portfolio Management Responsibilities

Effective Date

CIBC Global Bond Fund

CIBC Asset Management Inc.

December 9, 2020

CIBC Global Monthly Income Fund

CIBC Asset Management Inc.

Renaissance U.S. Equity Fund

CIBC Private Wealth Advisors Inc.

Renaissance Global Focus Fund

CIBC Asset Management Inc.

Renaissance International Equity Private Pool

CIBC Asset Management Inc.

WCM Investment Management

CIBC Private Wealth Advisors Inc.

Causeway Capital Management LLC

Pzena Investment Management Inc.

CIBC International Equity Fund

CIBC Private Wealth Advisors Inc.

January 29, 2021


Lower mutual fund management fees
Effective on or about December 9, 2020 and January 29, 2021, the annual management fees for the following funds will be reduced as indicated below.

Fund

Class

Current

New

Effective date

Renaissance U.S. Equity Fund

A

1.50%

1.40%

December 9, 2020

F

0.75%

0.65%

Renaissance U.S. Equity Growth Fund

A

1.75%

1.40%

F

0.75%

0.65%

Renaissance U.S. Equity Growth Currency Neutral Fund

A

1.75%

1.40%

F

0.75%

0.65%

Renaissance International Equity Private Pool

Premium*

1.85%

1.75%

H-Premium*

1.85%

1.75%

F-Premium*

0.85%

0.75%

FH-Premium*

0.85%

0.75%

N-Premium*

0.85%

0.75%

NH-Premium*

0.85%

0.75%

Renaissance Global Focus Fund

A

1.95%

1.70%

F

0.95%

0.70%

Renaissance Global Focus Currency Neutral Fund

A

1.95%

1.70%

F

0.95%

0.70%

CIBC Global Bond Fund

A

1.50%

1.25%

F

0.75%

0.50%

CIBC International Equity Fund

A

2.00%

1.75%

January 29, 2021

*Includes all associated T-classes.

 

Capping of fund

Also effective on or about December 9, 2020, the Renaissance U.S. Equity Fund will be capped. This means the fund will be closed to all new purchases from existing and new unitholders, including through regular investment plans.