Updates include portfolio sub-advisor changes and lower management fees
CIBC Asset Management (CAM) has announced changes to select members of its line-up of global equity products.
On or about April 1, CAM and Mackenzie Financial Corporation will join Newton Investment Management Ltd. in providing investment management services to the Imperial Global Equity Income Pool; on or around the same date, CAM will directly provide investment management services to the Renaissance International Dividend Fund.
CAM added that it will also directly provide investment management services to the Renaissance Global Markets Fund on or about March 2.
CAM has also announced its intention to reduce management fees on the Renaissance International Dividend Fund and Renaissance Global Markets Fund.
It said that on or about January 30, the Renaissance International Dividend Fund will see management fee reductions from 1.7% to 1.45% for Class A units, and reductions from 0.95% to 0.7 % for Class F units.
Meanwhile, planned reductions for the Renaissance Global Markets Fund included cutting Class A management fees from 1.75% to 1.7%, and from 0.75% to 0.7% for Class F units.