This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CIBC Asset Management Announces Portfolio Sub-Advisor Changes

TORONTO, May 20, 2014 /CNW/ - CIBC Asset Management Inc. today announced portfolio sub-advisor changes to further strengthen its line-up of investment solutions.

American Century Investment Management Inc. joins the portfolio advisor, CIBC Asset Management, as a sub-advisor for the foreign securities portion of CIBC Monthly Income Fund and Renaissance Canadian Monthly Income Fund effective on or about June 12, 2014. As a leading U.S. investment management firm, American Century is committed to delivering superior and consistent risk-adjusted performance through active management. Headquartered in Kansas City with offices in New York, Mountain View, California, London and Hong Kong, the firm managed approximately $150 billion in assets as of March 31, 2014. In August 2011, CIBC acquired a 41-per cent minority ownership position in American Century.

"American Century is a premier manager that has proven its skill in global investing - identifying U.S. and foreign companies that are demonstrating accelerated and sustainable earnings growth for investors," says Steve Geist, President, CIBC Asset Management. "We believe the addition of American Century's expertise will improve overall diversification and risk-adjusted return potential for our clients."

Amundi Canada Inc. has been appointed as portfolio sub-advisor for the Renaissance China Plus Fund and the Renaissance Asian Fund on or about June 20, 2014. Amundi ranks first in Europe 1 and ninth worldwide 1 in the asset management industry with AUM of close to $1.2 trillion worldwide 2. Located in the main investment regions in almost 30 countries, Amundi offers a comprehensive range of products covering all asset classes and major currencies.

Pzena Investment Management LLC has been appointed as portfolio sub-advisor for the Renaissance Global Value Fund on or about June 20, 2014. Based in New York City, Pzena has a deep value investment philosophy which emphasizes an understanding of business models and earnings power. Pzena's strong research team conducts in-depth proprietary analysis into companies in order to produce superior insights about the prospects of its investment universe. As of March 31, 2014, the firm managed around $27 billion in assets for leading corporate, public, and individual clients.

About CIBC CIBC is a leading Canadian-based global financial institution. Through our Retail and Business Banking, Wealth Management and Wholesale Banking businesses, CIBC provides a full range of financial products to individual, small business, commercial, corporate and institutional clients in Canada and around the world. You can find other news releases and information about CIBC in our Media Centre on our corporate website at www.cibc.com.

About CIBC Asset Management CIBC Asset Management (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 $95 billion in assets under management as of March 31, 2014.
  1. Source IPE « Top 400 asset managers active in the European marketplace » published in June 2013, based on figures as at December 2012. Interviews with asset management companies on their assets as at end-December 2012 (open-end funds, dedicated funds, mandates).
  2. Amundi Group figures as at Dec. 31, 2013.

SOURCE Canadian Imperial Bank of Commerce

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,124.43 -250.33 -1.53%
S&P 500 1,918.55 -32.58 -1.67%
NASDAQ 4,677.3960 -56.1010 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs