TORONTO, Feb. 4 /CNW/ - CIBC (CM: TSX;NYSE) announced today the launch of
the Global Monthly Income Balanced Portfolio to be offered through its
flagship portfolio program, CIBC Personal Portfolio Services.
The Global Monthly Income Balanced Portfolio offers investors the
benefits of income generation, global diversification and professional
portfolio management through a diversified portfolio of Imperial Pools. It is
ideal for investors seeking a diverse monthly income stream, from both global
and domestic securities, including dividends, capital gains and/or return of
capital, which may be tax-preferred.
The Portfolio will invest in six underlying Imperial Pools. Its largest
position will be in the recently launched Imperial Global Equity Income Pool,
which brings together the expertise of BlackRock Investment Management LLC
(BlackRock) and KBC Asset Management International Ltd. (KBCAM) into one
globally diversified monthly income solution.
BlackRock, based in Princeton, New Jersey, will act as sub-advisor on the
U.S. equity component of the Pool (50% of the Pool). BlackRock is a top
quartile manager in the U.S. dividend universe and a premier provider of
global investment management, risk management and advisory services.
BlackRock's ability to preserve capital in down markets and its risk
management process have rewarded investors with consistent long-term
KBCAM, based in Dublin, Ireland, will sub-advise the international equity
component of the Pool (50% of the Pool). KBCAM is a subsidiary of the KBC
Group, one of Europe's largest financial services providers. KBCAM is
known for its expertise in the international dividend universe. The
firm's conservative, lower risk and highly disciplined investment
strategy has made it a leading manager in this space.
"We are pleased to add BlackRock and KBCAM's investment expertise to the
CIBC Personal Portfolio Services line-up," said Steve Geist, President of CIBC
Asset Management. "The combination of their proven superior performance and
complementary styles is very well positioned to offer our investors strong
consistent long-term performance and good income generation."
CIBC is a leading North American financial institution with more than
11 million personal banking and business customers. CIBC offers a full range
of products and services through its comprehensive electronic banking network,
branches and offices across Canada, in the United States and around the world.
You can find other news releases and information about CIBC in our Press
Centre on our corporate website at www.cibc.com.
For further information:
For further information: Media contact: Doug Maybee, Director, Media
Relations, at (416) 980-7458; Product inquiries: CIBC Financial Consulting
Group at 1-888-357-8777