TORONTO, June 25, 2020 /CNW/ - CIBC (TSX: CM)
(NYSE: CM) - CIBC today announced the lowering of initial
minimum investments for CIBC Passive Portfolios, the renaming of
classes on select mutual funds, and the expansion of its
offering.
Lowering of CIBC Passive Portfolios' initial minimum
investments
Effective on or about June 25,
2020, CIBC will lower the initial minimum investment
requirements on the below portfolios.
Fund
|
Current
Initial
Investment
Minimum
|
New
Initial Investment Minimum
|
CIBC Conservative
Passive Portfolio – Class A
|
$5,000
|
$500
|
CIBC Conservative
Passive Portfolio – Class F
|
$5,000
|
$500
|
CIBC Balanced Passive
Portfolio – Class A
|
$5,000
|
$500
|
CIBC Balanced Passive
Portfolio – Class F
|
$5,000
|
$500
|
CIBC Balanced Growth
Passive Portfolio – Class A
|
$5,000
|
$500
|
CIBC Balanced Growth
Passive Portfolio – Class F
|
$5,000
|
$500
|
Renaming of Institutional Class to Class F-Premium
Effective on or about July 6,
2020, CIBC will be renaming the Institutional Class of
mutual funds, currently available for certain index funds, to Class
F-Premium as described below.
Fund
|
Current Class
Name
|
New Class
Name
|
CIBC Canadian
Short-Term Bond Index Fund
|
Institutional
Class
|
Class
F-Premium
|
CIBC Canadian Bond
Index Fund
|
Institutional
Class
|
Class
F-Premium
|
CIBC Global Bond
Index Fund
|
Institutional
Class
|
Class
F-Premium
|
CIBC Balanced Index
Fund
|
Institutional
Class
|
Class
F-Premium
|
CIBC Canadian Index
Fund
|
Institutional
Class
|
Class
F-Premium
|
CIBC U.S. Broad
Market Index Fund (including U.S. dollar purchase
option)
|
Institutional
Class
|
Class
F-Premium
|
CIBC U.S. Index
Fund
|
Institutional
Class
|
Class
F-Premium
|
CIBC International
Index Fund
|
Institutional
Class
|
Class
F-Premium
|
CIBC European Index
Fund
|
Institutional
Class
|
Class
F-Premium
|
CIBC Emerging Markets
Index Fund
|
Institutional
Class
|
Class
F-Premium
|
CIBC Asia Pacific
Index Fund
|
Institutional
Class
|
Class
F-Premium
|
CIBC Nasdaq Index
Fund (including U.S. dollar purchase option)
|
Institutional
Class
|
Class
F-Premium
|
Expansion of Class F and Class F-Premium offering
Effective on or about July 6,
2020, CIBC will be expanding its offering by adding new
Class F and Class F-Premium units to the funds mentioned below.
Fund
|
New Class of
Units
|
|
|
Savings
Funds
|
|
CIBC Canadian T-Bill
Fund
|
Class F and Class
F-Premium units
|
CIBC Money Market
Fund
|
Class F and Class
F-Premium units
|
CIBC U.S. Dollar
Money Market Fund
|
Class F and Class
F-Premium units
|
|
|
Income
Funds
|
|
CIBC Short-Term
Income Fund
|
Class F and Class
F-Premium units
|
CIBC Canadian Bond
Fund
|
Class F and Class
F-Premium units
|
CIBC Monthly Income
Fund
|
Class F
units
|
CIBC Global Bond
Fund
|
Class F
units
|
CIBC Global Monthly
Income Fund
|
Class F
units
|
|
|
Growth
Funds
|
|
CIBC Balanced
Fund
|
Class F
units
|
CIBC Dividend Income
Fund
|
Class F
units
|
CIBC Dividend Growth
Fund
|
Class F
units
|
CIBC Canadian Equity
Fund
|
Class F
units
|
CIBC Canadian Equity
Value Fund
|
Class F
units
|
CIBC Canadian
Small-Cap Fund
|
Class F
units
|
CIBC U.S. Equity
Fund
|
Class F units
(including U.S. dollar purchase option)
|
CIBC U.S. Small
Companies Fund
|
Class F units
(including U.S. dollar purchase option)
|
CIBC Global Equity
Fund
|
Class F
units
|
CIBC International
Equity Fund
|
Class F
units
|
CIBC European Equity
Fund
|
Class F
units
|
CIBC Emerging Markets
Fund
|
Class F
units
|
CIBC Asia Pacific
Fund
|
Class F
units
|
CIBC International
Small Companies Fund
|
Class F
units
|
CIBC Financial
Companies Fund
|
Class F
units
|
CIBC Canadian
Resources Fund
|
Class F
units
|
CIBC Energy
Fund
|
Class F
units
|
CIBC Canadian Real
Estate Fund
|
Class F
units
|
CIBC Precious Metals
Fund
|
Class F
units
|
CIBC Global
Technology Fund
|
Class F units
(including U.S. dollar purchase option)
|
|
|
Index
Funds
|
|
CIBC Canadian
Short-Term Bond Index Fund
|
Class F
units
|
CIBC Canadian Bond
Index Fund
|
Class F
units
|
CIBC Global Bond
Index Fund
|
Class F
units
|
CIBC Balanced Index
Fund
|
Class F
units
|
CIBC Canadian Index
Fund
|
Class F
units
|
CIBC U.S. Broad
Market Index Fund
|
Class F units
(including U.S. dollar purchase option)
|
CIBC U.S. Index
Fund
|
Class F
units
|
CIBC International
Index Fund
|
Class F
units
|
CIBC European Index
Fund
|
Class F
units
|
CIBC Emerging Markets
Index Fund
|
Class F
units
|
CIBC Asia Pacific
Index Fund
|
Class F
units
|
CIBC Nasdaq Index
Fund
|
Class F units
(including U.S. dollar purchase option)
|
|
|
Managed
Portfolios
|
|
CIBC Managed Income
Portfolio
|
Class F, Class FT4
and Class FT6 units
|
CIBC Managed Income
Plus Portfolio
|
Class F, Class FT4
and Class FT6 units
|
CIBC Managed Balanced
Portfolio
|
Class F, Class FT4,
Class FT6 and Class FT8 units
|
CIBC Managed Monthly
Income Balanced Portfolio
|
Class F, Class FT6
and Class FT8 units
|
CIBC Managed Balanced
Growth Portfolio
|
Class F, Class FT4,
Class FT6 and Class FT8 units
|
CIBC Managed Growth
Portfolio
|
Class F, Class FT4,
Class FT6 and Class FT8 units
|
CIBC Managed
Aggressive Growth Portfolio
|
Class F, Class FT4,
Class FT6 and Class FT8 units
|
CIBC U.S. Dollar
Managed Income Portfolio
|
Class F, Class FT4
and Class FT6 units
|
CIBC U.S. Dollar
Managed Balanced Portfolio
|
Class F, Class FT4,
Class FT6 and Class FT8 units
|
CIBC U.S. Dollar
Managed Growth Portfolio
|
Class F, Class FT4,
Class FT6 and Class FT8 units
|
Additionally, effective on or about August 4, 2020, CIBC Asset Management Inc., as
manager, will be offering Class F on the Renaissance Canadian
T-Bill Fund.
About CIBC
CIBC is a leading North American financial institution with 10
million personal banking, business, public sector and institutional
clients. Across Personal and 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 Asset Management