New offering helps to mitigate the impact of currency fluctuations
TORONTO, Oct. 9, 2015 /CNW/ - CIBC Asset Management Inc. (CAM) today
launched currency-hedged classes for the Renaissance U.S. Equity Income
Fund. The new offering will provide Canadian investors with the
opportunity to access the benefits of exposure to dividend-paying U.S.
equities, while mitigating the impact of currency fluctuations.
"Canadian investors are seeking more stability, including the ability to
minimize the impact of currency exchange rates on their U.S.
investments," says David Scandiffio, President and CEO of CIBC Asset
Management. "We are pleased to be able to provide that option to our
clients with new currency-hedged classes of a core investment
The Renaissance U.S. Equity Income Fund is sub-advised by American
Century Investments® and seeks to provide current income and long-term
capital growth by investing primarily in a diversified portfolio of
equity securities of companies located in the United States. CIBC owns
a 41-per cent equity interest in American Century, a major U.S. asset
management, serving financial intermediaries, institutions and
About 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 $110 billion
in assets under management as of June 30, 2015.
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.