TORONTO, Oct. 20 /CNW/ - Recognizing investors' demand for yield and broader diversification options within their investment portfolios, Renaissance Investments has launched the Renaissance Global Real Estate Fund, as well as currency neutral versions of some of our global and U.S. equity funds. Our global lineup presents a broad selection of funds and portfolios featuring investment managers from around the world and a wide range of asset classes.
"As the global economy continues to evolve, we have further positioned our robust lineup of global funds to enable investors to capitalize on the increasing opportunities found outside of Canada," said Steve Geist, President of CIBC Asset Management. "With the launch of the Renaissance Global Real Estate Fund, investors will have access to an institutional asset class that provides yield, prospects for growth and enhances diversification beyond domestic markets. At the same time, the currency neutral options of some of our existing funds will provide additional investment choices for investors who wish to benefit from global diversification while reducing exposure to currency fluctuations."
Global Real Estate Fund
The Renaissance Global Real Estate Fund aims to generate long-term capital growth through a portfolio that invests in equity securities in the global real estate market. Real estate has become a strategic investment holding by large pension plans around the world due to its relatively lower correlation to other asset classes, its growth opportunities and its strong income generation potential.
Cohen & Steers Capital Management, Inc., an innovator in real estate investment management since its founding in 1986, will be portfolio sub-advisor for the Renaissance Global Real Estate Fund. As a pioneer in the U.S. REIT industry, Cohen & Steers was also among the first firms to manage global real estate securities portfolios. The firm manages income-oriented equity portfolios with expertise in global real estate securities. It also manages alternative investment strategies, such as hedged real estate securities portfolios and private real estate multi-manager strategies. As of September 30, 2010, Cohen & Steers had US$31.2 billion in assets under management. The firm is headquartered in New York City, with offices in London, Brussels, Hong Kong and Seattle.
Currency Neutral Options
Renaissance currency neutral funds will enhance our lineup of global funds by providing investors with an option to participate in global markets while limiting the impact of currency fluctuations.
Our new currency neutral funds include: - Renaissance Global Real Estate Currency Neutral Fund - Renaissance Global Infrastructure Currency Neutral Fund - Renaissance Global Focus Currency Neutral Fund - Renaissance Global Growth Currency Neutral Fund - Renaissance International Equity Currency Neutral Fund - Renaissance Optimal Global Equity Currency Neutral Portfolio - Renaissance U.S. Equity Growth Currency Neutral Fund
Renaissance Investments is offered by CIBC Asset Management Inc. CIBC Asset Management, the asset management division of CIBC, is responsible for the CIBC and Renaissance Investments families of mutual funds, Frontiers Pools, the CIBC family of managed portfolio solutions - Axiom Portfolios, CIBC Managed Portfolio Services and CIBC Personal Portfolio Services - and CIBC's leading separately managed account program, CIBC Wood Gundy Investment Consulting Service. CIBC Asset Management has more than $50 billion in assets under management.
For further information: For further information: Media contact: Kevin Dove, Senior Director, External Communications and Media Relations at 416-980-8835 or e-mail: firstname.lastname@example.org; Product inquiries: Renaissance Investments Client Services at 1-888-888-FUND (3863)