CIBC Asset Management Inc. announces a change of portfolio sub-advisors
TORONTO, Sept. 26, 2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. (CAM) announces a change of portfolio advisors to the CIBC Multi-Sector Fixed Income Private Pool (the "Pool").
Effective on or about October 4, 2024, portfolio management responsibilities for a portion of the Pool will be assumed or reallocated among the following portfolio advisor and/or portfolio sub-advisor(s):
CIBC Asset Management, Inc.
DoubleLine Capital LP
As a result, on or about October 4, 2024, the Pool's portfolio allocation will be as follows:
New portfolio allocation* | % |
DoubleLine Capital LP | 42.5 |
PIMCO Canada Corp. via CIBC Global Credit Fund | 42.5 |
CIBC Asset Management, Inc. | 10.0 |
Ares Capital Management LLC via Ares Strategic Income Fund | 5.0 |
*The portfolio allocation may change from time to time. |
About CIBC
CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, 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 Inc.
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 $200 billion in assets under administration as of July 2024.
SOURCE CIBC
