An anonymous director reports
CIBC ASSET MANAGEMENT INC. ANNOUNCES PORTFOLIO SUB-ADVISORY CHANGES AND RISK RATING UPDATES TO CERTAIN FUNDS
Canadian Imperial Bank of Commerce's CIBC Asset Management Inc. has released portfolio subadvisory changes and risk rating updates to certain funds.
Portfolio subadviser change
Connor, Clark & Lunn Investment Management Ltd. has been appointed as portfolio subadviser for the CIBC Canadian Small-Cap Fund and the Renaissance Canadian Small-Cap Fund, effective on or about Oct. 3, 2022.
Risk rating updates
CIBC Asset Management also announced changes to the risk ratings of the Renaissance Canadian Dividend Fund and Axiom Balanced Income Portfolio. The changes will be reflected in the simplified prospectus renewal of the Renaissance Investments family of funds, Axiom Portfolios, Renaissance Private Pools and CIBC Fixed Income Pools, effective on or about Aug. 26, 2022.
The new risk ratings were determined in accordance with the standardized risk classification methodology mandated by the Canadian Securities Administrators. No changes have been made to the investment objectives, investment strategies or management of these funds. CIBC Asset Management reviews the risk rating for each fund at least annually and make adjustments whenever the existing investment risk level is no longer appropriate.
About Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce (CIBC) is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. Across the personal and 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, with offices in the United States and around the world.
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