TORONTO, May 20, 2014 /CNW/ - CIBC Asset Management Inc. today announced
portfolio sub-advisor changes to further strengthen its line-up of
American Century Investment Management Inc. joins the portfolio advisor,
CIBC Asset Management, as a sub-advisor for the foreign securities
portion of CIBC Monthly Income Fund and Renaissance Canadian Monthly Income Fund effective on or about June 12, 2014. As a leading U.S. investment
management firm, American Century is committed to delivering superior
and consistent risk-adjusted performance through active management.
Headquartered in Kansas City with offices in New York, Mountain View,
California, London and Hong Kong, the firm managed approximately $150
billion in assets as of March 31, 2014. In August 2011, CIBC acquired a
41-per cent minority ownership position in American Century.
"American Century is a premier manager that has proven its skill in
global investing - identifying U.S. and foreign companies that are
demonstrating accelerated and sustainable earnings growth for
investors," says Steve Geist, President, CIBC Asset Management. "We
believe the addition of American Century's expertise will improve
overall diversification and risk-adjusted return potential for our
Amundi Canada Inc. has been appointed as portfolio sub-advisor for the Renaissance China Plus Fund and the Renaissance Asian Fund on or about June 20, 2014. Amundi ranks first in Europe1 and ninth worldwide1 in the asset management industry with AUM of close to $1.2 trillion
worldwide2. Located in the main investment regions in almost 30 countries, Amundi
offers a comprehensive range of products covering all asset classes and
Pzena Investment Management LLC has been appointed as portfolio
sub-advisor for the Renaissance Global Value Fund on or about June 20, 2014. Based in New York City, Pzena has a deep
value investment philosophy which emphasizes an understanding of
business models and earnings power. Pzena's strong research team
conducts in-depth proprietary analysis into companies in order to
produce superior insights about the prospects of its investment
universe. As of March 31, 2014, the firm managed around $27 billion in
assets for leading corporate, public, and individual clients.
CIBC is a leading Canadian-based global financial institution. Through
our Retail and Business Banking, Wealth Management and Wholesale
Banking businesses, CIBC provides a full range of financial products to
individual, small business, commercial, corporate and institutional
clients in Canada and around the world. You can find other news
releases and information about CIBC in our Media Centre on our
corporate website at www.cibc.com.
About CIBC Asset Management
CIBC Asset Management (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 $95
billion in assets under management as of March 31, 2014.
Source IPE « Top 400 asset managers active in the European marketplace »
published in June 2013, based on figures as at December 2012.
Interviews with asset management companies on their assets as at
end-December 2012 (open-end funds, dedicated funds, mandates).
Amundi Group figures as at Dec. 31, 2013.
SOURCE: Canadian Imperial Bank of Commerce
For further information:
Media contact: Caroline Van Hasselt, Director, External Communications and Media Relations, at 416-784-6699 or e-mail: firstname.lastname@example.org.