08:07:53 EDT Thu 28 Oct 2021
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CIBC opens two index ETFs

2021-09-16 10:54 ET - News Release

See News Release (C-CM) Canadian Imperial Bank of Commerce (CIBC)

Mr. David Scandiffio reports

CIBC ASSET MANAGEMENT LAUNCHES NEW INDEX ETFS

Canadian Imperial Bank of Commerce's CIBC Asset Management Inc. (CAM) has launched two new index exchange-traded funds (ETFs) designed to cover the core exposures in a typical asset allocation strategy. These CIBC ETFs aim to replicate the performance of broad market equity and fixed income indices by Morningstar, an independent investment research and index provider. This launch builds upon the core Index ETFs CAM launched on March 31, 2021, and rounds out CAM's initial suite of index ETFs.

"We are pleased to leverage the high-calibre index construction capabilities of Morningstar to deliver low-cost, diversified solutions to meet our clients' evolving investment needs," says David Scandiffio, president and chief executive officer, CIBC Asset Management.

The ETFs shown in the attached table have closed their initial offerings of units and begin trading on the Toronto Stock Exchange today.

These new CIBC ETFs will be among the lowest-cost ETFs currently available in the Canadian market and allow investors to gain exposure to the global fixed income and emerging markets. These solutions draw upon the knowledge, indexing capabilities and deep experience that CAM has successfully built and demonstrated over the past three decades. With the launch of these products, CAM offers a range of active, strategic beta and competitively priced index ETFs.

About Canadian Imperial Bank of Commerce

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, 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.

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