CIBC Asset Management announced today subadvisor changes at several of its investment funds.

“We are pleased to have Aletheia Research and Management Inc. and Metropolitan West Capital Management, LLC as part of our product line-up,” says Steve Geist, president of CIBC Asset Management. “We are confident their proven investing expertise in the U.S. equity markets will enhance the long-term performance potential for our clients.”

Aletheia has been appointed portfolio sub-advisor of Renaissance U.S. Equity Growth Fund, as well as portfolio sub-advisor for the growth component of Frontiers U.S. Equity Pool, replacing BlackRock Investment Management LLC. This change will be effective June 1.

Aletheia, based in Los Angeles, was founded in 1997 and manages investments primarily for institutional, separately managed and high net worth accounts. Aletheia’s unique proprietary investment process combines the forensic analysis of balance sheets, insider and corporation actions behaviour, and direct industry research in order to produce superior results for investors over the long term.

This change will also benefit the Axiom Portfolios, one of CIBC’s managed portfolio solutions, as most of the portfolios invest in the Frontiers U.S. Equity Pool.

Metropolitan West has been appointed portfolio sub-advisor for the value component of Imperial U.S. Equity Pool, replacing Oppenheimer Asset Management Inc. and Bristlecone Value Partners, LLC. This change will be effective today, May 1.

Evergreen Investments, the asset management company of Wachovia Corp., acquired a majority interest in Metropolitan West in 2006. Metropolitan West, founded in 1997, is based in Newport Beach, Calif. and provides investment services to retail and institutional clients.

Metropolitan West’s large-cap intrinsic value investment approach focusing on high-quality companies helps to minimize risk and optimize long-term returns. Their proven investment process has consistently demonstrated their ability to add value above their benchmark and deliver superior long-term returns with lower-than-market risk.

Meanwhile, CIBC Global Asset Management Inc., currently the portfolio sub-advisor of the Canadian component of Renaissance Canadian Balanced Value Fund, will now be responsible for investment management and advisory services for 100% of the assets in the portfolio, effective May 1. Oppenheimer Asset Management Inc. and Bristlecone Value Partners, LLC will no longer manage a portion of the fund.

http://www.newswire.ca/en/releases/archive/May2008/01/c3761.html