CIBC Asset Management Inc. (CIBC AM) Monday announced portfolio sub-advisor changes to further strengthen core investment solutions. The changes will take effect April 1.
Imperial International Bond Pool
Wellington Management Canada LLC has been appointed as a portfolio sub-advisor for the Imperial International Bond Pool. Wellington joins existing sub-advisor Brandywine Global Investment Management, LLC. Also, fund will be enhanced to obtain exposure to floating rate fixed income securities by holding units of Renaissance Floating Rate Income Fund, which is sub-advised by Ares Management LLC.
Imperial Canadian Equity Pool
Foyston, Gordon & Payne Inc. has been appointed as portfolio sub-advisor for the fund. Foyston joins existing sub-advisors Connor, Clark & Lunn Investment Management Ltd. (CC&L) and CAM.
Frontiers Canadian Equity Pool
Foyston has been also appointed as portfolio sub-advisor for the fund. Foyston joins existing sub-advisors CC&L, CIBC AM, Picton Mahoney Asset Management and Triasima Portfolio Management Inc.
Frontiers Global Bond Pool
Wellington has been appointed as a portfolio sub-advisor for the fund. Wellington joins existing sub-advisor Brandywine.
Frontiers Canadian Fixed Income Pool
AllianceBernstein Canada Inc. has been appointed as portfolio sub-advisor for the fund. Alliance Bernstein joins existing sub-advisors Baker Gilmore & Associates Inc. and Canso Investment Counsel Ltd.
“We are confident these enhancements will strengthen our investment solutions,” says Steve Geist, senior executive vice president and group head, CIBC Wealth Management.
CIBC Asset Management, a subsidiary of CIBC (TSX:CM), is one of Canada’s largest asset management firms, with over $100 billion in assets under management (AUM).