Mr. Eric Belanger of CIBC Global Asset Management reports

CIBC GLOBAL ASSET MANAGEMENT ANNOUNCES EXPANSION OF CIBC INVESTMENT GRADE BOND FUNDS LINEUP INCLUDING TWO NEW LADDERED FUNDS

CIBC Global Asset Management (CIBC GAM) has expanded its target maturity bond funds with the launch of five new CIBC Investment Grade Bond Funds and two new laddered funds (CIBC 1-5 Year Laddered Investment Grade Bond Fund and CIBC 1-5 Year U.S. Laddered Investment Grade Bond Fund) -- each available in Series A, Series F and Series O.

Additionally, all new funds offer ETF series units, with the exception of the CIBC 1-5 Year U.S. Laddered Investment Grade Bond Fund. These ETF series units have completed their initial offering and are now available for trading on Cboe Canada.

"Building on the success of our CIBC Investment Grade Bond Funds, we are pleased to expand our lineup of target maturity funds to help investors achieve their shorter-term savings goals," said Eric Belanger, president and chief executive officer, CIBC Global Asset Management. "The new CIBC 1-5 Year Laddered Investment Grade Bond Funds offer prebuilt bond laddering, providing regular income and diversification without the need for reinvestment decisions."

The CIBC Investment Grade Bond Funds provide investors with diversified portfolios of Canadian-dollar or U.S.-dollar denominated investment grade corporate and/or government bonds, all maturing within their respective calendar year. The CIBC 1-5 Year Laddered Investment Grade Bond Funds offer exposure to investment-grade bonds by investing in an equally weighted portfolio of five underlying funds, laddered across maturities of one to five years. Each laddered fund currently achieves this exposure by investing in units of the CIBC Investment Grade Bond Funds.

Please see below for further details about the ETF series.