TORONTO, Dec. 6, 2019 /CNW/ - CIBC (TSX: CM) (NYSE:
CM) – CIBC Asset Management Inc. today announced the estimated 2019
annual reinvested capital gains distributions for the CIBC ETFs.
The distribution estimates are based on information available as at
October 30, 2019, and are subject to
change prior to the final distribution.
These estimates are for the year-end capital gains distributions
only, and do not include cash distributions for December 2019. The annual capital gains
distributions will be reinvested in additional units of the CIBC
ETF. The additional units will be immediately consolidated with the
previously outstanding units such that the number of outstanding
units following the distribution will equal the number of units
outstanding prior to the distribution.
Unitholders of record as of December 31,
2019, will receive the 2019 annual reinvested distributions.
The final year-end capital gains distribution amounts, as well as
the cash distribution amounts for December
2019, are expected to be announced on December 20, 2019. The actual taxable amounts of
cash and reinvested distributions for 2019, including the tax
characteristics of the distributions, will be reported in 2020.
Details of the per-unit estimated annual reinvested capital
gains distribution amounts are as follows:
CIBC
ETF
|
TSX
Ticker
Symbols
|
Estimated annual
capital
gain per unit as
of
October 30, 2019
($)
|
CIBC Active
Investment Grade Floating Rate Bond ETF
|
CAFR
|
$
|
0
|
CIBC Active
Investment Grade Corporate Bond ETF
|
CACB
|
$
|
0.0909
|
CIBC Multifactor
Canadian Equity ETF
|
CMCE
|
$
|
0
|
CIBC Multifactor U.S.
Equity ETF (Common units)
|
CMUE
|
$
|
0.0204
|
CIBC Multifactor U.S.
Equity ETF (Hedged units)
|
CMUE.F
|
$
|
0
|
Distribution estimates are only approximations, and are not
guaranteed. Distribution estimates do not actually denote the yield
unitholders may receive. The year-end capital gains distribution
estimates are provided by CIBC Asset Management Inc. and are for
information purpose only. They do not reflect final attributions
for tax purposes. All values are rounded to four decimal places and
expressed in Canadian dollars, unless otherwise indicated, and
totals may not sum due to rounding.
CIBC ETFs are managed by CIBC Asset Management Inc., a
subsidiary of Canadian Imperial Bank of Commerce. Commissions,
management fees and expenses all may be associated with investments
in exchange traded funds (ETFs). Please read the CIBC ETFs
prospectus or ETF Facts document before investing. To obtain a
copy, call 1-888-888-3863, ask your advisor or visit
www.cibc.com/etfs. ETFs are not guaranteed, their values change
frequently and past performance may not be repeated. CIBC ETFs are
offered by registered dealers.
Certain trademarks of Canadian Imperial Bank of Commerce and/or
certain of its affiliates (collectively "CIBC") have been licensed
by CIBC Asset Management Inc. for use in connection with the CIBC
Multifactor Canadian Equity ETF and CIBC Multifactor U.S. Equity
ETF (the "CIBC Equity ETFs'). The securities of the CIBC Equity
ETFs are not sponsored, promoted, sold or supported in any other
manner by CIBC or by the index calculation agent, Solactive A.G.
("Solactive") nor do CIBC or Solactive offer any express or
implicit guarantee or assurance either with regard to the results
of using the Indices on which the CIBC Equity ETFs are based, or
the index prices at any time or in any other respect. The
prospectus of the CIBC ETFs contains a more detailed description of
the limited relationship CIBC and Solactive have with CIBC Asset
Management Inc. and the CIBC Equity ETFs.
About CIBC
CIBC is a leading North American financial institution with 10
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 $140 billion in assets under
administration as of October
2019.
SOURCE CIBC Asset Management