TORONTO, November 21, 2022 /CNW/ – CIBC Asset Management Inc. (CAM) today announced that the CIBC Alternative Credit Strategy (the “Fund”), managed by CAM, is now available for purchase. The Fund is an actively managed multi-strategy credit solution designed to complement a core fixed income portfolio by providing consistent and diversifying return potential that aims to minimize volatility and interest rate risk.
“Many investors are seeking solutions to help reduce the vulnerability of a traditional fixed income portfolio as global markets continue to be impacted by rising interest rates and volatility,” he said David Scandiffio, President and Chief Executive Officer, CIBC Asset Management. “As a liquid alternative mutual fund, the CIBC Alternative Credit Strategy provides credit diversification and aims to generate positive returns while mitigating overall portfolio volatility.”
CAM also announced it has reviewed the risk rating classification for the Fund from “Medium” to “Low to Medium” based on the standardized risk classification methodology mandated by the Canadian Securities Administrators. No changes have been made to the investment objectives or investment strategies.
For more information, visit www.renaissanceinvestments.ca or view the fund’s simplified prospectus here.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the simplified prospectus before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated.
CIBC is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. Across Personal and Small 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 www.cibc.com/ca/media-centre.
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 $170 billion in assets under administration as of September 2022.
For further information: Kira Smylie, CIBC Communications & Public Affairs, 416-980-2949 or [email protected]