CIBC Asset Management Inc. Launches New Class F-Premium Units on Fixed Income
Funds for Lower Fee Options
TORONTO, Oct. 1, 2012 /CNW/ - CIBC Asset Management Inc. has launched new
Class F-Premium units on three key funds within its Renaissance Investments
fixed income line up: Renaissance Corporate Bond Capital Yield Fund,
Renaissance Canadian Bond Fund and Renaissance Short-Term Income Fund. The
addition of the new class will enhance the choice available to high-net-worth
clients with fee-based accounts, offering investors even greater value through
lower management fees at higher investment amounts.
"We are pleased to continue to provide investors and advisors with greater
flexibility, competitive pricing options and access to quality solutions for
today's investment environment," said Steve Geist, President of CIBC Asset
Management. "The new Class F-Premium units will provide additional choice to
higher-net-worth clients with fee-based accounts."
Subject to an initial minimum investment of $100,000, this new class is
available to clients participating in fee-based or wrap account programs.
Class F-Premium units carry the same characteristics as the Class A units of
the Funds; however, the higher investment minimums allow for lower management
fees in order to provide investors with greater net returns.
Renaissance Investments is offered by CIBC Asset Management Inc. CIBC Asset
Management, the asset management division of CIBC (CM: TSX) (CM: NYSE), is
responsible for the CIBC and Renaissance Investments families of mutual funds,
Frontiers Pools and the CIBC family of managed portfolio solutions - Axiom
Portfolios, CIBC Managed Portfolio Services and CIBC Personal Portfolio
Services. CIBC Asset Management manages approximately $55 billion in assets.
Media contact: Kevin Dove, Senior Director, External Communications and Media
Relations at 416-980-8835 or e-mail:firstname.lastname@example.org
Product inquiries: Renaissance Investments Client Services at 1-888-888-FUND
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CO: Canadian Imperial Bank of Commerce
NI: FIN FIN
-0- Oct/01/2012 19:00 GMT
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