TORONTO, June 16, 2020 /CNW/ - CIBC (TSX: CM)
(NYSE: CM) -To reinforce its commitment to providing value and
competitive pricing for Canadian investors, CIBC Asset Management
Inc. (CAM) today announced management fee reductions on select
investment products.
Effective on or about June 16,
2020, CAM will reduce management fees on the following
Renaissance fixed-income mutual funds and ETF solution:
Fund
|
Current
Management Fee
(%)
|
New
Management Fee
(%)
|
Renaissance Flexible
Yield Fund - Class A
|
1.50
|
1.45
|
Renaissance Flexible
Yield Fund - Class H
|
1.50
|
1.45
|
Renaissance Flexible
Yield Fund - Class F
|
0.75
|
0.70
|
Renaissance Flexible
Yield Fund - Class FH
|
0.75
|
0.70
|
Renaissance
High-Yield Bond Fund - Class A
|
1.50
|
1.45
|
Renaissance
High-Yield Bond Fund - Class F
|
0.75
|
0.70
|
ETF
|
TSX
Ticker
Symbol
|
Current
Management
Fee
(%)
|
New
Management Fee
(%)
|
CIBC Flexible Yield
ETF (CAD-Hedged)
|
CFLX
|
0.75
|
0.70
|
About CIBC
CIBC is a leading North American financial institution with 10
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 $140 billion in assets under
administration as of May 2020.
SOURCE CIBC - Corporate