Subject: PDT
CIBC Asset Management introduces new flexible yield ETF for access to global fixed income markets
TORONTO, Jan. 27, 2020 /CNW/ - CIBC (TSX: CM) (NYSE: CM) - Today CIBC Asset Management Inc. launched the CIBC Flexible Yield ETF (CAD-Hedged), a new actively-managed exchange-traded fund (ETF) designed to help investors access global fixed income markets. The solution manages volatility through tactical asset allocation and duration management.
"Investors are increasingly looking for active fixed income solutions to help them diversify their portfolios, and we are pleased to deliver an ETF solution to meet these needs," says David Scandiffio, President and CEO, CIBC Asset Management.
The CIBC Flexible Yield ETF (CAD-Hedged) seeks to generate long-term total return and current income by investing in high-yielding debt and investment grade fixed income securities of issuers located anywhere in the world. Exposure to these types of securities will be obtained by investing primarily in hedge class units of Renaissance Flexible Yield Fund, which is sub-advised by Doubleline Capital LP.
CIBC Flexible Yield ETF (CAD-Hedged) has closed its initial offering of units and will begin trading on the Toronto Stock Exchange today. More on the CIBC Flexible Yield ETF (CAD-Hedged) can be found here.
TSX Ticker | ETF Name | Management Fee (%)* | Description |
CFLX | CIBC Flexible Yield | 0.75% | Actively managed fixed income ETF that can invest in income securities of issuers located anywhere in the world in order to seek long term total return and current income. The ETF will distribute monthly. |
* | The management fee is equal to the fee paid by the CIBC ETF to CIBC Asset Management Inc. and does not include applicable taxes or other fees and expenses of the CIBC ETF. |
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.
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 December 2019.
SOURCE CIBC
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