TORONTO, April 26 /CNW/ - CIBC Asset Management Inc., the manager of the
Frontiers Pools, announced today a sub-advisor change to the Frontiers
International Equity Pool.
Effective May 2, 2011, del Rey Global Investors, LLC (del Rey) has been
appointed portfolio sub-advisor for the large-cap value component of
the Frontiers International Equity Pool. Pictet Asset Management
Limited and Walter Scott & Partners Limited will continue to serve as
portfolio sub-advisors of the Pool.
"We are focused on partnering with top portfolio managers to maximize
returns and manage risk for our clients," said Steve Geist, President
of CIBC Asset Management Inc. "We are pleased to have del Rey on our
platform. Paul Hechmer, the lead portfolio manager, has demonstrated
the ability to consistently outperform the MSCI EAFE Index over both
short- and long-term periods, and we are confident he and his team will
add strength to the overall performance of the Pool."
The firm focuses on international and global strategies for
institutional and retail investors. Using a research-driven, bottom-up,
value-based approach, del Rey aims to deliver long-term capital
appreciation by investing worldwide across a diversified range of
equity securities and mid to large market capitalizations. In most
markets, del Rey believes it is possible to identify companies selling
for less than their intrinsic value. By investing in high-quality,
undervalued companies, del Rey can create value for clients in both up
and down markets.
This change will also benefit the Axiom Portfolios - the managed
portfolio solutions offered by Renaissance Investments - that invest in
the Frontiers International Equity Pool.
CIBC Asset Management, the asset management division of CIBC, is
responsible for the CIBC and Renaissance Investments families of mutual
funds, Frontiers Pools and the CIBC family of managed portfolio
solutions - Axiom Portfolios, CIBC Managed Portfolio Services and CIBC
Personal Portfolio Services. CIBC Asset Management manages more than
$50 billion in assets.
For further information:
Media contact: Kevin Dove, Senior Director, External Communications and Media Relations, at 416-980-8835 or e-mail: email@example.com.
Product inquiries: Renaissance Investments Client Services at 1-888-888-FUND (3863)