TORONTO, July 27, 2020 /CNW/ - CIBC (TSX: CM)
(NYSE: CM) — Today CIBC Asset Management Inc. launched CIBC Global
Growth ETF and CIBC International Equity ETF, two new
actively-managed exchange-traded funds (ETFs) that provide
investors with global diversification to equity
securities.
"Diversification across global markets is essential for
investors' portfolios and we are pleased to offer active ETF
solutions to meet these needs," says David
Scandiffio, President and CEO, CIBC Asset
Management.
CIBC Global Growth ETF seeks to generate long-term capital
growth by investing in a diversified portfolio consisting primarily
of equity securities of companies located anywhere in the world
with high valuations and growth prospects. Exposure to these types
of securities will be obtained by investing primarily in units of
Renaissance Global Growth Fund, which is sub-advised by
Walter Scott & Partners
Limited.
CIBC International Equity ETF seeks to generate long-term growth
through capital appreciation by investing primarily in a
diversified portfolio of equity securities of foreign companies in
Europe, the Far East and the
Pacific Rim. This ETF intends to
provide investors access to international opportunities that are
not readily available in Canada or
the United States. Exposure to
these types of securities will be obtained by investing primarily
in units of Renaissance International Equity Fund, which is
sub-advised by Walter Scott &
Partners Limited.
CIBC Global Growth ETF and CIBC International Equity ETF have
closed initial offering of units and will begin trading on the
Toronto Stock Exchange today. More on the new CIBC ETFs can be
found here.
TSX
Ticker
|
ETF
Name
|
Management Fee
(%)*
|
Description
|
CGLO
|
CIBC Global Growth
ETF
|
0.85%
|
CIBC Global Growth
ETF is an ETF solution for investors looking for global
diversification with the expertise of professional
active management.
|
CINT
|
CIBC International
Equity ETF
|
0.85%
|
CIBC International
Equity ETF is an ETF solution for investors looking for enhanced,
international diversification with the expertise of professional
active management.
|
*The management fee is equal to the fee paid by the CIBC ETF to
CIBC Asset Management Inc. and does not include applicable taxes or
other fees and expenses of the CIBC ETF.
CIBC ETFs are managed by CIBC Asset Management Inc., a
subsidiary of Canadian Imperial Bank of Commerce. Commissions,
management fees and expenses all may be associated with investments
in exchange traded funds (ETFs). Please read the CIBC ETFs
prospectus or ETF Facts document before investing. To obtain a
copy, call 1-888-888-3863, ask your advisor or visit
www.cibc.com/etfs. ETFs are not guaranteed, their values change
frequently and past performance may not be repeated. CIBC ETFs are
offered by registered dealers.
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/en/about-cibc/media-centre.html.
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 $143 billion in assets under
administration as of June 2020.
SOURCE CIBC