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CIBC Asset Management Announces Portfolio Manager Changes

Stocks in this article: CM

TORONTO, June 3, 2013 /CNW/ - CIBC Asset Management Inc. (CAMI) today announced portfolio manager changes to further strengthen its existing lineup of investments.

The changes include the addition of Barrantagh Investment Management Inc. (Barrantagh), Connor, Clark & Lunn Investment Management Ltd. (CC&L), Guardian Capital LP (Guardian), PIMCO Canada Corp. (PIMCO Canada), and del Rey Global Investors, LLC ( del Rey) as portfolio sub-advisors to certain Canadian and global investment mandates, effective on or about August 6, 2013.

"We are committed to partnering with investment management firms that have proven they can deliver superior returns and manage risk for our clients over the long run," said Steve Geist, President of CIBC Asset Management. "We are confident that these additions will further enhance the quality of our offering to Canadian investors."

Imperial International Bond Pool and Frontiers Global Bond Pool

PIMCO Canada has been appointed as an additional portfolio sub-advisor on the Imperial International Bond Pool and the Frontiers Global Bond Pool, alongside Brandywine Global Investment Management, LLC. PIMCO Canada will manage the global aggregate fixed income components of the Pools. Brandywine will continue to serve as a portfolio sub-advisor for the global opportunistic components of the Pools.

Frontiers Canadian Monthly Income Pool

The name of the Frontiers Canadian Monthly Income Pool will change to the Frontiers Equity Income Pool, effective on or about July 15. The new name is intended to better reflect the investment styles and portfolio composition of the Pool.

Barrantagh, CC&L and Guardian have been appointed as additional portfolio sub-advisors for the Frontiers Canadian Monthly Income Pool. Barrantagh will be added as a portfolio sub-advisor for a small-cap / mid-cap equity income component of the Pool. CC&L will be added as a portfolio sub-advisor for an equity income component of the Pool. Guardian will be added as a portfolio sub-advisor for a global dividend component of the Pool. CIBC Global Asset Management Inc. will continue to serve as a portfolio sub-advisor for the dividend value component of the Pool.

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