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
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