Includes solutions for Canadians seeking: U.S. dollar investments, potential for superior income generation and protection from rising rates and market volatility
TORONTO, Sept. 16, 2013 /CNW/ - CIBC Asset Management Inc. (CAMI) announced the launch of several new funds for Canadian investors:
- Renaissance Floating Rate Income Fund
- Renaissance U.S. Equity Income Fund
- Renaissance U.S. Dollar Corporate Bond Fund
- Renaissance U.S. Dollar Diversified Income Fund
- Renaissance Optimal Conservative Income Portfolio
- Renaissance Optimal Growth & Income Portfolio
These new funds will be sub-advised by specialized investment managers including: CIBC Global Asset Management Inc.; American Century Investment Management, Inc.; Ares Management LLC and Logan Circle Partners, L.P.
"Canadians are seeking more diversified sources of income and stability from their investments. They need shelter from the potential of rising interest rates. More Canadians also need solutions designed specifically for investing U.S. dollars," says Steve Geist, President of CIBC Asset Management. "These are among the key challenges that we have addressed with the addition of new solutions to the Renaissance Investments family of funds."Rising Rate Protection and Income Enhancement Renaissance Floating Rate Income Fund aims to provide investors with a high level of current income and mitigate the impact of rising interest rates, primarily through investment in U.S. senior floating rate bank loans, other floating rate debt instruments and lower-rated debt securities (including high-yield corporate bonds) of issuers around the world. Sub-advisor: Ares Management. Renaissance U.S. Equity Income Fund seeks to provide current income and long-term capital growth by investing primarily in a diversified portfolio of U.S. equities. The Fund is based on a flagship equity income mandate from American Century Investments, with a proven track record of providing income and delivering superior results since 1994. Sub-advisor: American Century Investments. U.S. Dollar Investment Solutions Two funds have been introduced specifically for investors who have U.S. dollars to invest. With underlying assets and pricing in U.S. dollars, the funds enable Canadians to mitigate currency volatility and avoid unnecessary currency transactions, while earning income from the underlying portfolio.