TORONTO, Sept. 7, 2017 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. (CAM) today announced changes to the risk ratings for the Renaissance Investments mutual funds listed below. These changes will be reflected in the renewal of the simplified prospectus for the funds and are effective on or about September 11, 2017.
The new risk ratings were determined in accordance with the new standardized risk classification methodology mandated by the Canadian Securities Administrators. No changes have been made to the investment objectives, investment strategies or management of the funds. CAM reviews the risk rating for each fund at least annually, and adjustments are made whenever we determine that the investment risk level is no longer appropriate.
| Fund Name |
Previous Risk Rating |
New Risk Rating |
| Renaissance Diversified Income Fund |
Medium |
Low to Medium |
| Renaissance Emerging Markets Fund |
High |
Medium to High |
| Renaissance Flexible Yield Fund - Hedged Classes* |
Low to Medium |
Low |
| Renaissance Global Real Estate Currency Neutral Fund |
Medium to High |
High |
| Renaissance Global Science & Technology Fund |
High |
Medium to High |
| Renaissance Global Small-Cap Fund |
Medium to High |
Medium |
| Renaissance High Income Fund |
Medium |
Low to Medium |
| Renaissance Optimal Income Portfolio |
Low to Medium |
Low |
| Renaissance Optimal Inflation Opportunities Portfolio |
Medium |
Low to Medium |
| Renaissance U.S. Dollar Corporate Bond Fund |
Low |
Low to Medium |
| Renaissance U.S. Dollar Diversified Income Fund |
Low |
Low to Medium |
| Renaissance U.S. Equity Growth Currency Neutral Fund |
Medium |
Medium to High |
| * Risk rating change applies to classes H, FH and OH of the fund only; classes A, F and O will retain their Low to Medium risk rating |
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About CIBC
CIBC is a leading Canadian-based global financial institution with 11 million personal banking, business, public sector and institutional clients. Across Personal and Small 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, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre/.
About CIBC Asset Management Inc.
CIBC Asset Management Inc., the asset management subsidiary of CIBC, provides a range of high-quality investment management services and solutions to retail and institutional investors. Offerings include: a comprehensive platform of mutual funds, strategic managed portfolio solutions, discretionary investment management services for high-net-worth individuals and portfolio management for institutional clients. CIBC Asset Management Inc. is one of Canada's largest asset management firms, with over $124 billion in assets under management as of July 31, 2017.
SOURCE CIBC
Susan Kirwin, Senior Consultant, Public Relations, at 416-980-5192 or [email protected]
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