CIBC Asset Management Inc. announces portfolio advisory changes to certain mutual funds and management fee reductions

TORONTO, July 13, 2022 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. ("CAM") today announced portfolio advisory changes and management fee reductions to help further modernize and simplify portfolio structures and continue to provide best-in-class solutions to clients.

Effective on or about September 1, 2022, portfolio management responsibilities for the following funds will be assumed or reallocated to the portfolio advisor and/or portfolio sub-advisors as follows:

Fund	Portfolio management responsibilities
Imperial International Bond Pool	•  Brandywine Global Investment Management, LLC. •  PIMCO Canada Corp. •  CIBC Asset Management Inc. •  Ares Capital Management LLC.
Renaissance Global Bond Private Pool	•  Brandywine Global Investment Management, LLC. •  PIMCO Canada Corp. •  CIBC Asset Management Inc.
Imperial Global Equity Income Pool	•  CIBC Asset Management Inc. •  Capital International, Inc., an affiliate of Capital Group •  Mackenzie Financial Corporation
Renaissance Global Health Care Fund	•  CIBC Asset Management Inc.

In addition, effective on September 1, 2022 the annual management fees for Class A and Class F units of the Renaissance Global Health Care Fund will be reduced as outlined below.

Fund	Class	Annual Management Fee
		Current	New
Renaissance Global Health Care Fund	A	2.50 %	2.10 %
	F	1.50 %	1.10 %

About CIBC 
CIBC is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network and locations across Canada, with offices in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html

About CIBC Asset Management 
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 $160 billion in assets under administration as of April 2022.

SOURCE CIBC

Kira Smylie, 416-980-2949 or [email protected]