CIBC completes initial index ETF suite

Big Six bank's asset-management arm unveils global fixed-income and emerging-market equity strategies

CIBC completes initial index ETF suite

CIBC Asset Management (CAM) has enhanced its suite of exchange-traded funds with two newly launched offerings.

Building upon its launch of core index ETFs earlier this year, CAM has unveiled the CIBC Global Bond ex-Canada Index ETF (CAD-Hedged) and the CIBC Emerging Markets Equity Index ETF, which are trading on the TSX as CGBI and CEMI, respectively.

With an annual management fee of 0.19%, CGBI aims to track the performances of the Morningstar Global ex-Canada Core Bond Hedged CAD Index. Meanwhile, CEMI comes with a fee of 0.22%, and is designed to track the Morningstar Emerging Markets Target Market Exposure Index.

The firm said its new ETFs, which round out its initial lineup of index ETFs based on Morningstar benchmarks, will be among the lowest-cost ETFs offered currently in the Canadian market, allowing investors to gain exposure to the global fixed income and emerging markets.

"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," said David Scandiffio, president and CEO at CIBC Asset Management.