TORONTO, Feb. 27, 2017 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. announced today that it will lower the minimum initial investment amount of the Renaissance Real Assets Private Pool to $10,000 from $150,000, effective March 1, 2017. This change will make real-asset investing available to more Canadian investors.
"By lowering the minimum initial investment amount, we're offering more clients the opportunity to diversify their portfolios by investing in real assets," says David Scandiffio, President and CEO, CIBC Asset Management Inc. "Exposure to this pool, which invests in sectors such as infrastructure, real estate and natural resources, could benefit investors' portfolios overall."
The Renaissance Real Assets Private Pool is suitable for clients who seek long-term capital growth and income through investments in securities of companies throughout the world that engage in real assets sectors.
The pool is managed by Brookfield Investment Management Inc. (Brookfield), a U.S. Securities and Exchange Commission-registered investment advisor providing public securities real assets strategies, including global-listed real estate and infrastructure equities, as well as corporate credit and securitized credit. Brookfield is a wholly owned subsidiary of Brookfield Asset Management.
CIBC is a leading Canadian-based global financial institution with 11 million personal banking and business clients. Through our three major business units – Retail and Business Banking, Wealth Management and Capital Markets – CIBC offers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada with offices in the United States and around the world. You can find other news releases and information about CIBC on our corporate website at www.cibc.com/ca/media-centre/.
About CIBC Asset Management Inc.
CIBC Asset Management Inc. (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 $119 billion in assets under administration as of December 31, 2016.
SOURCE Canadian Imperial Bank of Commerce
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