TORONTO, June 3, 2013 /CNW/ - CIBC Asset Management Inc. (CAMI) today announced portfolio manager changes to further strengthen its existing lineup of investments.
The changes include the addition of Barrantagh Investment Management Inc. (Barrantagh), Connor, Clark & Lunn Investment Management Ltd. (CC&L), Guardian Capital LP (Guardian), PIMCO Canada Corp. (PIMCO Canada), and del Rey Global Investors, LLC (del Rey) as portfolio sub-advisors to certain Canadian and global investment mandates, effective on or about August 6, 2013.
"We are committed to partnering with investment management firms that have proven they can deliver superior returns and manage risk for our clients over the long run," said Steve Geist, President of CIBC Asset Management. "We are confident that these additions will further enhance the quality of our offering to Canadian investors."
Imperial International Bond Pool and Frontiers Global Bond Pool
PIMCO Canada has been appointed as an additional portfolio sub-advisor on the Imperial International Bond Pool and the Frontiers Global Bond Pool, alongside Brandywine Global Investment Management, LLC. PIMCO Canada will manage the global aggregate fixed income components of the Pools. Brandywine will continue to serve as a portfolio sub-advisor for the global opportunistic components of the Pools.
Frontiers Canadian Monthly Income Pool
The name of the Frontiers Canadian Monthly Income Pool will change to the Frontiers Equity Income Pool, effective on or about July 15. The new name is intended to better reflect the investment styles and portfolio composition of the Pool.
Barrantagh, CC&L and Guardian have been appointed as additional portfolio sub-advisors for the Frontiers Canadian Monthly Income Pool. Barrantagh will be added as a portfolio sub-advisor for a small-cap / mid-cap equity income component of the Pool. CC&L will be added as a portfolio sub-advisor for an equity income component of the Pool. Guardian will be added as a portfolio sub-advisor for a global dividend component of the Pool. CIBC Global Asset Management Inc. will continue to serve as a portfolio sub-advisor for the dividend value component of the Pool.
These enhancements will also benefit the Axiom Portfolios - managed portfolio solutions that utilize both the Frontiers Canadian Monthly Income Pool and Frontiers Global Bond Pool in creating portfolios for clients.
Renaissance Global Value Fund
del Rey has been appointed as portfolio sub-advisor for the Renaissance Global Value Fund.
About the Firms
Barrantagh Investment Management Inc.: Established in 1995, Barrantagh is dedicated to preserving its clients' capital, while generating growth through consistent application of its value-based fundamental investment philosophy. Barrantagh applies a fundamental, bottom-up, value-oriented approach to a small and mid-cap income-oriented mandate.
Connor, Clark & Lunn Investment Management Ltd.: CC&L is one of Canada's leading money management firms dedicated to managing assets for pension fund sponsors, capital accumulation plans, corporations, not-for-profit organizations, mutual funds and individual investors. CC&L's equity income strategy follows an all-cap core approach, with an emphasis on delivering a total return with stability and generating yield.
Guardian Capital LP: Guardian offers balanced fund mandates, specialty Canadian equity, fixed income expertise and investment management for U.S., international and global mandates. Guardian's global dividend strategy utilizes a proprietary quantitative model that emphasizes factors that deliver a core portfolio tilted towards yield generation.
PIMCO Canada Corp.: PIMCO Canada is a subsidiary of Pacific Investment Management Company LLC (PIMCO), a leading global investment management firm. PIMCO's strength is its team of well-connected, globally-located resources, which provides it with unique and timely insights in key markets and economies.
del Rey Global Investors, LLC: del Rey 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.
CIBC Asset Management, the asset management division of CIBC, is responsible for the CIBC and Renaissance Investments families of mutual funds, Imperial Pools, 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 $60 billion in assets.
For further information:
Media contact: Kevin Dove, Head, External Communications and Media Relations, at 416-980-8835 or e-mail: [email protected]. Product inquiries: Renaissance Investments Client Services at 1-888-888-FUND (3863).