CIBC Asset Management announces changes to mutual fund line-up
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TORONTO, Feb. 14, 2025 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management (CAM) today announced a number of changes to its mutual fund line-up, including portfolio management changes, management fee reductions, and fund name changes.
Portfolio management changes
Effective on or about March 14, 2025, portfolio management responsibilities for the following funds will be assumed or reallocated to the portfolio sub-advisor as follows:
Fund | Portfolio management responsibilities |
CIBC Emerging Markets Fund | Mackenzie Financial Corporation |
Renaissance Emerging Markets Fund | Mackenzie Financial Corporation |
CIBC Emerging Markets Equity Private Pool | Mackenzie Financial Corporation |
Imperial Emerging Economies Pool | Mackenzie Financial Corporation |
Effective on or about April 15, 2025, portfolio management responsibilities for the following funds will be assumed or reallocated to the portfolio advisor and/or portfolio sub-advisor(s) as follows:
Fund | Portfolio management responsibilities |
Renaissance Global Bond Fund | CIBC Asset Management Inc. |
CIBC Global Bond Private Pool | CIBC Asset Management Inc. |
PIMCO Canada Corp. | |
Imperial International Bond Pool | CIBC Asset Management Inc. |
PIMCO Canada Corp. |
Management fee reductions
Effective on or about March 14, 2025, the management fees for the following funds will be reduced as indicated below.
Fund | Class | Management fee | |
Current | New | ||
CIBC Emerging Markets Fund | A | 2.25 % | 1.75 % |
F | 1.25 % | 0.75 % | |
CIBC Emerging Markets Equity Private Pool | C | 2.05 % | 1.90 % |
I | 1.05 % | 0.90 % | |
Effective on or about April 15, 2025, the management fees for the following funds will be reduced as indicated below.
Fund | Class | Management fee | |
Current | New | ||
Renaissance Global Bond Fund | A | 1.25 % | 1.00 % |
F | 0.75 % | 0.50 % | |
Premium* | 1.25 % | 1.00 % | |
F-Premium* | 0.75 % | 0.50 % | |
CIBC Global Bond Private Pool | Premium** | 0.95 % | 0.90 % |
Premium T4** | 0.95 % | 0.90 % | |
Premium T6** | 0.95 % | 0.90 % | |
C | 1.00 % | 0.95 % | |
F-Premium** | 0.45 % | 0.40 % | |
F-Premium T4** | 0.45 % | 0.40 % | |
F-Premium T6** | 0.45 % | 0.40 % | |
N-Premium** | 0.45 % | 0.40 % | |
N-Premium T4** | 0.45 % | 0.40 % | |
N-Premium T6** | 0.45 % | 0.40 % | |
I | 0.50 % | 0.45 % | |
*Closed to new purchases; **includes all associated U.S. dollar purchase options |
Fund name changes
Effective on or about May 1, 2025, the following funds will be renamed as described below.
Current fund name | New fund name |
Renaissance Global Science & Technology Fund | Renaissance Global Innovation Fund |
CIBC Global Technology Fund | CIBC Technology Innovation Fund |
These changes reflect our ongoing commitment to provide best-in-class value and investment management services to our clients and help further modernize our line-up.
About CIBC
CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at https://www.cibc.com/en/about-cibc/media-centre.html.
About CIBC Asset Management
CIBC Asset Management Inc. (CAM), the asset management subsidiary of CIBC, provides a range of high-quality investment management services and solutions to retail and institutional investors. CAM's offerings include: a comprehensive platform of mutual funds, strategic managed portfolio solutions, discretionary investment management services for high-net-worth individuals, and institutional portfolio management. CAM is one of Canada's largest asset management firms, with over $227 billion in assets under administration as of December 2024.
SOURCE CIBC
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