CIBC launches new class of funds

Toronto-based CIBC Asset Management Inc. has launched new Class F – Premium units on three key funds in its Renaissance Investments-branded fixed-income lineup: Renaissance Corporate Bond Capital Yield Fund, Renaissance Canadian Bond Fund and Renaissance Short-Term Income Fund. The addition of the new class will enhance the choice available to high net-worth clients with fee-based accounts, offering those investors even greater value through lower management fees at higher investment amounts. Subject to an initial minimum investment of $100,000, this new class is available to clients participating in fee-based or wrap-account programs. Class F – Premium units carry the same characteristics as the Class A units of the funds; however, the higher investment minimums allow for lower management fees in order to provide investors with greater net returns.

(cohara@investmentexecutive.com).