Firm announces portfolio management changes and reduced fees for certain funds
CIBC Asset Management (CAM) has announced upcoming changes to certain members of its mutual-fund stable.
Effective on or about September 1, 2020, CAM said portfolio advisors or sub-advisors will be assigned to the funds listed below as follows:
The firm also announced a raft of management-fee reductions to take effect on or about September 1.
A reduction of 15 basis points will be applied across units of the Renaissance Canadian Equity Private Pool and the Renaissance U.S. Equity Private Pool, including Class A, Class C, Class I, and Premium Class, among others.
A 20-basis-point reduction will be applied to Class A and Class F units of the Renaissance Canadian Growth Fund. Five-basis-point reductions are slated for Class A and Class F units of both the Renaissance Canadian Balanced Fund and the Renaissance Canadian Monthly Income Fund, while the CIBC Balanced Fund is expected to undergo a 10-basis-point management fee reduction for both its Class A and Class F units.