CIBC and CIBC Asset Management Inc. announce fee reductions for certain funds
TORONTO, December 2, 2021 / CNW / – CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. (CAM) and CIBC today announced fixed administration fee reductions and / or management fee reductions for the CIBC Multi-Asset Absolute Return Strategy, and certain Renaissance Mutual Funds and CIBC Mutual Funds .
“These fee reductions follow on from several others made in recent years and reflect our continued commitment to ensuring competitive pricing and overall value for our investors,†said David Scandiffio, President and CEO, CAM.
These reduced fixed administration and management fees will come into effect on January 1, 2022 and are described below.
|
Alternative investment funds |
Class / Series |
Management fees |
Fixed administration |
||
|
Running |
New |
Running |
New |
||
|
CIBC Multi-Asset Absolute Return Strategy |
A |
1.90% |
1.70% |
0.20% |
0.15% |
|
F |
0.90% |
0.70% |
0.20% |
0.15% |
|
|
S |
0.90% |
0.70% |
|||
|
Renaissance Investments family of funds |
Class / Series |
Management fees |
|
|
Running |
New |
||
|
Renaissance Short Term Income Fund |
A |
1.10% |
0.95% |
|
F |
0.60% |
0.45% |
|
|
Renaissance Canadian Bond Fund |
A |
1.10% |
1.00% |
|
F |
0.60% |
0.50% |
|
|
Renaissance Canadian Dividend Fund |
A |
1.75% |
1.70% |
|
F |
0.75% |
0.70% |
|
|
Renaissance Canadian Small Cap Fund |
A |
1.75% |
1.70% |
|
F |
0.75% |
0.70% |
|
|
Renaissance International Equity Fund |
A |
1.95% |
1.90% |
|
F |
0.85% |
0.80% |
|
|
Renaissance International Equity Currency Neutral Fund |
A |
1.95% |
1.90% |
|
F |
0.85% |
0.80% |
|
|
Renaissance Global Growth Fund |
A |
1.95% |
1.90% |
|
F |
0.85% |
0.80% |
|
|
Renaissance Global Growth Currency Neutral Fund |
A |
1.95% |
1.90% |
|
F |
0.85% |
0.80% |
|
|
Renaissance Global Value Fund |
A |
1.95% |
1.80% |
|
F |
0.95% |
0.80% |
|
|
Renaissance Global Small Cap Fund |
A |
2.00% |
1.80% |
|
F |
1.00% |
0.80% |
|
|
Renaissance Global Real Estate Fund |
A |
2.25% |
2.05% |
|
F |
1.25% |
1.05% |
|
|
Renaissance Global Real Estate Currency Neutral Fund |
A |
2.25% |
2.05% |
|
F |
1.25% |
1.05% |
|
|
Renaissance Global Science and Technology Fund |
A |
2.00% |
1.85% |
|
F |
1.00% |
0.85% |
|
|
CIBC Mutual Funds |
Class / Series |
Management fees |
|
|
Running |
New |
||
|
CIBC Short Term Income Fund |
A |
1.10% |
0.95% |
|
F |
0.60% |
0.45% |
|
|
CIBC Canadian Bond Fund |
A |
1.10% |
1.00% |
|
F |
0.60% |
0.50% |
|
|
CIBC Canadian Small Cap Fund |
A |
2.00% |
1.70% |
|
F |
1.00% |
0.70% |
|
|
CIBC International Small Companies Fund |
A |
2.25% |
1.80% |
|
F |
1.25% |
0.80% |
|
|
CIBC Canadian Real Estate Fund |
A |
2.00% |
1.80% |
|
F |
1.00% |
0.80% |
|
|
CIBC Global Technology Fund |
A |
2.00% |
1.85% |
|
F |
1.00% |
0.85% |
|
|
CIBC Global Monthly Income Fund |
A |
2.00% |
1.75% |
|
F |
1.00% |
0.75% |
|
|
CIBC Financial Companies Fund |
A |
2.00% |
1.75% |
|
F |
1.00% |
0.75% |
|
About CIBC
CIBC is a leading financial institution in North America with 11 million personal, corporate, public and institutional clients. In Personal and Small Business Banking, Commercial Banking and Wealth Management and Capital Markets, CIBC offers a full range of advice, solutions and services through its network leading digital banking and its locations across Canada, in United States and all over the world. Current press releases and more information about CIBC are available at www.cibc.com/ca/media-centre.
About CIBC Asset Management
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 mutual fund platform, strategic portfolio management solutions, discretionary investment management services for high net worth individuals and institutional portfolio management. CAM is one of from Canada largest asset management companies, with more than 170 billion dollars in assets under administration at October 2021.
SOURCE CIBC
For further information: Nima Ranawana, Public Affairs, 647-456-4556, [email protected]
Related links
www.cibc.com