Big Six bank's asset management arm announces fee cuts, portfolio management changes
CIBC Asset Management (CAM) has announced changes to ensure competitive pricing and provide best-in-class services to investors in its mutual funds.
Building on price cuts from previous years, the firm said it is reducing the trailing commissions and management fees of the following funds on December 1, 2021:
|
Fund |
Management Fee |
Trailing Commission |
||
|
Includes: Class A, Class A (US$), Class H |
Current |
New |
Current |
New |
|
Renaissance Real Return Bond Fund |
1.40% |
1.15% |
0.75% |
0.50% |
|
Renaissance Corporate Bond Fund |
1.40% |
1.15% |
0.75% |
0.50% |
|
Renaissance U.S. Dollar Corporate Bond Fund |
1.50% |
1.25% |
0.75% |
0.50% |
|
Renaissance High-Yield Bond Fund |
1.45% |
1.20% |
0.75% |
0.50% |
|
Renaissance Flexible Yield Fund |
1.45% |
1.20% |
0.75% |
0.50% |
|
Renaissance Floating Rate Income Fund |
1.50% |
1.25% |
0.75% |
0.50% |
|
Renaissance Global Bond Fund |
1.50% |
1.25% |
0.75% |
0.50% |
|
CIBC Global Bond Fund |
1.25% |
1.00% |
0.75% |
0.50% |
CAM added that effective on October 1, it’s changing or reallocating portfolio management responsibilities among advisors and sub-advisors for certain funds as follows:
|
Fund |
Portfolio Management Responsibilities |
|
Renaissance International Equity Private Pool |
CIBC Asset Management Inc. |
|
WCM Investment Management |
|
|
CIBC Private Wealth Advisors Inc. |
|
|
Renaissance Global Equity Private Pool |
Principal Global Investors, LLC |
|
Imperial International Equity Pool |
CIBC Asset Management Inc. |
|
WCM Investment Management |
|
|
CIBC Private Wealth Advisors Inc. |
|
|
Imperial Overseas Equity Pool |
CIBC Asset Management Inc. |
|
WCM Investment Management |
|
|
CIBC Private Wealth Advisors Inc. |
