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.

CIBC Logo (CNW Group/CIBC - Corporate)

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

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