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In this section, you can find proxy voting information for the Renaissance Investments family of funds, CIBC Private Pools, and Axiom Portfolios (the "Funds").

Typically, only funds that are equity mutual funds, or mutual funds with an equity component, hold securities with voting rights. The funds are entitled to exercise the voting rights attached to those securities. CIBC Asset Management Inc. (“CAMI”), as the Funds' portfolio advisor, has adopted written policies and procedures aimed to ensure all votes in respect of securities or other property of the Funds are made to maximize returns and are in the best interests of the unitholders of the Funds.

Pursuant to our agreements with each sub-advisor to the Funds, the sub-advisors are responsible for directing how any securities or other property of the Funds are to be voted. Sub-advisors are required to establish proxy-voting guidelines that meet our requirements. For example, each sub-advisor must have:

  • a standing policy for dealing with routine matters on which they may vote;
  • a policy that indicates some of the circumstances under which the sub-advisor will deviate from the standing policy for routine matters;
  • a policy under which, and procedures by which, the sub-advisor will determine how to vote or refrain from voting on non-routine matters;
  • procedures to ensure that portfolio securities held by the applicable Fund are voted in accordance with the instructions of the sub-advisor; and
  • procedures for voting proxies in situations where there may be a conflict of interest between the sub-advisor and unitholders of the applicable Fund.

Our procedures also involve monitoring compliance by the sub-advisors of the proxy-voting guidelines on an on-going basis and require us to report any non-compliance to our Investment Controls Committee for review and recommendation.

Although we do not expect to be called on to vote proxies for the Funds, if that were to occur, we would vote such proxies on a case-by-case basis, following the guiding principle and, where appropriate, taking into consideration the principles in the proxy voting policies of the sub-advisor of the Fund.

CAMI, a wholly owned subsidiary of CIBC, always aims to act in the best interest of unitholders when voting proxies. To address perceived potential conflicts of interest, CAMI relies on an outside independent proxy advisor when dealing with proxy voting for CIBC and CIBC related companies. However, CAMI will exercise its judgement to vote proxies in the best interest of unitholders with respect to a company where CIBC or CIBC related companies are providing advice, funding, or underwriting services. In this case, there are “ethical walls” designed to prevent undue influence between CAMI on one hand and CIBC and CIBC-related companies on the other hand. Moreover, CAMI will assess annually whether its outside independent proxy advisor remains independent and able to make recommendations for voting proxies in an impartial manner and in the best interest of CAMI’s unitholders. Any changes to the proxy advisor or guidelines, with respect to voting in CIBC and CIBC related parties, are presented to and reviewed by the CIBC Independent Review Committee.

The policies and procedures of the Funds and the sub-advisors related to voting rights for the Funds are available on request, at no cost, by calling us or by writing to the appropriate address below.

The proxy voting record of each Fund for the most recent period ended June 30 of each year, commencing in 2006, is available to any unitholders of the Funds at any time after August 31 of that year by calling the number below.


Renaissance Investments family of funds, CIBC Private Pools, and Axiom Portfolios




1500 Robert-Bourassa Blvd.
Suite 800
Montreal, QC
H3A 3S6

Some funds, including the Axiom Portfolios and Renaissance Investments family of funds, hold units in other mutual funds (the “underlying funds”). Investors in a top fund will have some similar rights as those who invest directly in the underlying funds, including some similar rights with respect to receiving legal disclosures and notices and voting. Where CIBC, or CAMI, is the manager of both a top fund and the underlying funds, if there is a unitholder meeting with respect to the underlying fund, CIBC/CAMI will not vote proxies in connection with its holdings of the underlying funds. CIBC/CAMI may arrange to send the proxies to unitholders of the applicable top fund under certain circumstances so that unitholders of the top fund can vote the proxies of the underlying funds.