CIBC Emerging Markets Local Currency Bond Fund (US$) [Series F]

To generate income and modest long-term capital appreciation by investing primarily in fixed income securities of emerging market countries denominated in local currencies.
Additional Fund Information
Also available in Series A

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

Distributions: On a quarterly basis, income accumulated to date is distributed. In the month of December, net income and net realized capital gains accumulated to date are distributed.
Pre-Authorized Chequing Investment: $50 minimum investment for monthly, quarterly, semi-annual or annual deposit.
Systematic Withdrawal Plan: With minimum initial account value of $10,000. Withdrawals may be made monthly, quarterly, semi-annually or annually. $50 minimum.
Annual Management Fee (excluding applicable taxes): 0.75%
Annual Fixed Administration Fee (excluding applicable taxes): 0.05%
Front-End Load OptionATL5052
Inception DateMay 6, 2022
Fund CodeATL5052
Assets Under Management ($000)
As at : 06/28/2024
$122,869

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.

Luc de la Durantaye

Chief Investment Strategist and CIO

Luc de la Durantaye serves as the Chief Investment Officer of the Multi-Asset and Currency team where he oversees the multi-asset investment process and manages CIBC AM’s currency process. Mr. de la Durantaye also chairs the firm’s Investment Committee and helps to coordinate the investment views and processes developed by other team leaders within his unit. He is the primary spokesperson for CIBC AM’s investment insights.

Mr. de la Durantaye joined CIBC AM in 2002 and has over three decades of investment experience. In a previous role, he was responsible for tactical asset allocation and currency management at a large Canadian financial institution. He began his career in 1985 as a financial analyst at a sell-side brokerage firm.

Mr. de la Durantaye holds a Bachelor of International Finance from École des Hautes Études Commerciales of Montreal. He is also a CFA charterholder and a member of the CFA Society of Montreal.

Jose Saracut

José Manuel Saracut is a member of the Multi-Asset and Currency Management team and has over 14 years of industry experience. Mr. Saracut is responsible for the overall management of emerging market debt portfolios. His role includes portfolio construction, research and fundamental analysis, security selection and risk mitigation. He also collaborates with other managers and shares research and views on emerging market debt including sovereign, quasi-sovereign, and corporate bond sectors.

Prior to joining CIBC Asset Management in 2021, Mr. Saracut was a Managing Director, Fixed Income at Manulife Investment Management where he gained portfolio management and research experience. He was responsible for various asset classes, including emerging market debt, developed market investment-grade debt, and preferred shares. At his previous firm, Mr. Saracut and his team won two Lipper Fund Awards.

Mr. Saracut holds a BEcon degree from Universidad Torcuato Di Tella and studied Finance at the University of California, Berkeley. He is a CFA charterholder and a member of the CFA Society of Toronto and Montreal. He also holds the FRM designation.

Style

Fund style chart: short-term and intermediate term of B
Fixed Income Strategy †† Net Rates

Term to Maturity (Years) ††Duration (Years) ††Average YTM (%) ††
0 5.72 8.13
As of May 31, 2024 Source: BNY Mellon Analytics
Term to Maturity (Years)
The time remaining on a bond's life, or the date on which the debt will cease to exist and the borrower will have completely paid off the amount borrowed.

Duration (Years)
Duration is defined as the weighted average time to full recovery of principal and interest.

Yield to Maturity (Average YTM)
The percentage rate of return paid on a bond, note or other fixed income security if the investor buys and holds it to its maturity date. The calculation for YTM is based on the coupon rate, length of time to maturity and market price. It assumes that coupon interest paid over the life of the bond will be reinvested at the same rate.
Performance
3 mo6 moYTD1 yr3 yrs5 yrs10 yrsSince Inception
(2.3%)(5.0%)(5.0%)(0.8%)N/AN/AN/A6.4%
3 mo
6 mo
YTD
1 yr
3 yrs
5 yrs
10 yrs
Since Inception
(2.3%)
(5.0%)
(5.0%)
(0.8%)
N/A
N/A
N/A
6.4%

As at: 06/28/2024

Calendar Year Performance
2023
13.4%
2023
13.4%
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.

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.