TORONTO, March 10, 2014 /CNW/ - CIBC Asset Management Inc. (CAM) today
announced portfolio sub-advisor changes to further strengthen its
lineup of international equity funds. Changes will take effect on or
about April 15, 2014.
"Exposure to global markets offers investors important diversification
benefits. To uncover the best opportunities, you need access to
superior portfolio managers," said Steve Geist, President, CIBC Asset
Management. "To harness the growth potential of international equities,
we need to ensure our mandates are managed by proven investment
specialists with long-term performance records that illustrate their
expertise. This, combined with effective risk management and optimized
portfolios, will best serve our clients and their investment needs."
Imperial International Equity Pool
Pzena Investment Management, LLC (Pzena) has been appointed as a
portfolio sub-advisor for the Imperial International Equity Pool. Pzena
joins existing sub-advisors American Century Investment Management,
Inc. (American Century), Causeway Capital Management LLC (Causeway),
CAM, and Pyramis Global Advisors (Pyramis), who will continue to
provide portfolio management services to the pool.
Imperial Overseas Equity Pool
Pzena and INTECH Investment Management LLC (INTECH) have been appointed
as portfolio sub-advisors for the Imperial Overseas Equity Pool. These
firms join existing sub-advisors American Century, Causeway and
Pyramis, who will continue to provide portfolio management services to
Frontiers International Equity Pool
Causeway, American Century, INTECH and Pzena have been appointed as
portfolio sub-advisors for the Frontiers International Equity Pool.
These firms join existing sub-advisor Walter Scott & Partners Limited,
who will continue to provide portfolio management services to the pool.
CIBC International Small Companies Fund
American Century has been appointed as portfolio sub-advisor for the
CIBC International Small Companies Fund. American Century is a premier
investment management firm with an extensive and proven track record
managing international small-cap equities.
About the Newly Appointed Portfolio Sub-Advisory Firms
American Century Investment Management: 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 manages over $139 billion in assets as of December 31,
2013. In August 2011, CIBC acquired a minority ownership position in
Causeway Capital Management: Causeway is an independent investment management firm founded in June
2001. It takes a bottom-up approach to selecting mid- and large-cap
global stocks, seeking to identify under-priced securities that are
held until the market recognizes their fair value. The firm's portfolio
managers and research analysts work together to determine expected
returns for undervalued securities. This analysis is then refined using
tools developed by their quantitative specialists to manage portfolio
risk. As of December 31, 2013, the firm managed approximately $28
billion in assets.
INTECH Investment Management: Founded in 1987, INTECH offers equity investors highly disciplined,
mathematical relative-return strategies that attempt to achieve
long-term returns in excess of the target benchmark, while reducing the
risk of significant underperformance relative to the benchmark. Its
strategies are based on a rigorous mathematical theory that is the
result of research conducted by founder Dr. E. Robert Fernholz. As of
December 31, 2013, INTECH had approximately $47.6 billion under
Pzena Investment Management: Headquartered 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 better insights
about the prospects of its investment universe. As of December 31,
2013, the firm managed $25 billion in assets for leading corporate,
public, and individual clients.
CIBC Asset Management (CAM), the asset management subsidiary of CIBC,
provides a range of high-quality investment management services and
solutions to individual 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 portfolio management for institutional
clients. CAM is one of Canada's largest asset management firms, with
over $90 billion in assets under management as of 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: email@example.com.