CIBC Asset Management Inc. announces two new fixed income solutions

TORONTO, June 8, 2022 /CNW/ – CIBC (TSX: CM) (NYSE: CM) — CIBC Asset Management Inc. (GAC) today announced the launch of two new fixed income solutions, managed by PIMCO Canada Corp. (PIMCO). These solutions aim to provide clients with results ranging from income generation to modest long-term capital appreciation over time.

“CIBC Asset Management is proud to partner with a world-class investment firm like PIMCO,” said David Scandiffio, President and CEO, CIBC Asset Management. “Through our sub-advisory partnership with PIMCO, we provide our clients with access to the fixed income exposures they need to build and protect their wealth, regardless of changing market conditions.”

To accommodate the risk and return preferences of individual investors, two solutions are available:

CIBC Diversified Fixed Income Fund: Is an option for income-oriented investors seeking a bond investment that offers the possibility of a steady stream of income with an emphasis on high-quality fixed income securities. The fund will invest primarily in units of an underlying fund, the PIMCO Monthly Income Fund (Canada) managed by PIMCO. The underlying fund’s multi-sector approach enables it to seek out the best income-generating ideas in any given market climate, targeting multiple sources of income from a set of global opportunities.

CIBC Global Credit Fund: Is an option for investors looking to take advantage of global bond opportunities that may offer an additional yield advantage over developed market government bonds. These sectors primarily include investment grade credit, high yield bonds and emerging market bonds, as well as other credit sectors that appear to offer relative value.

For more information on the funds, visit www.renaissanceinvestments.ca to view the funds’ simplified prospectus.

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.

About CIBC

CIBC is a leading North American financial institution with 11 million personal, commercial, public sector and institutional banking customers. In Personal and Commercial Banking, Business Banking, and Wealth Management and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network and its locations in Canada, the United States and around the world. Current press releases and more information about CIBC are available at www.cibc.com/en/about-cibc/media-centre.html.

About CIBC Asset Management

CIBC Asset Management Inc. (CAM), the asset management subsidiary of CIBC, offers a range of high-quality investment management services and solutions to retail and institutional investors. CAM’s offering includes: a comprehensive mutual fund platform, strategically managed portfolio solutions, discretionary investment management services for high net worth individuals and institutional portfolio management. GAC is one of the largest asset management companies in Canada, with over $160 billion in assets under administration as of April 2022.

SOURCECIBC

For further information: Kira Smylie, 416-980-2949 or [email protected]