TORONTO, Dec. 2, 2021 /CNW/ - CIBC (TSX: CM)
(NYSE: CM) – CIBC Asset Management Inc. (CAM) and CIBC today
announced reductions to fixed administration fees and/or management
fees for the CIBC Multi-Asset Absolute Return Strategy, and certain
Renaissance Investments Funds and CIBC Mutual Funds.
"These fee reductions follow several others made in recent years
and reflect our ongoing commitment to ensuring competitive pricing
and overall value for our investors," says David Scandiffio, President and CEO, CAM.
These reduced fixed administration fees and management fees
will be effective on January 1, 2022
and are outlined below.
|
Alternative
Investments Funds
|
Class/Series
|
Management
Fee
|
Fixed
Administration
Fee
|
|
Current
|
New
|
Current
|
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
Fee
|
|
Current
|
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 & Technology Fund
|
A
|
2.00%
|
1.85%
|
|
F
|
1.00%
|
0.85%
|
|
CIBC Mutual
Funds
|
Class/Series
|
Management
Fee
|
|
Current
|
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 North American 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
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 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 $170
billion in assets under administration as of October 2021.
SOURCE CIBC