CIBC Asset Management announced today changes to two fund names in the Renaissance Funds family, as part of the funds’ simplified prospectus renewal.

Effective today, Renaissance Canadian Income Trust Fund is renamed Renaissance Canadian Monthly Income Fund. In addition, the fund is now being reopened to new investors. The fund’s investment objective, which has not changed, is to generate a high level of cash flow by investing primarily in income producing securities including income trusts, preferred shares, common shares and fixed income securities.

In addition, Renaissance Canadian Income Trust Fund II is being renamed Renaissance Diversified Income Fund and also keeps its current investment objective.

“These funds aim to deliver a steady distribution. The new fund names better reflect this objective in the current market environment, as well as the existing flexibility that these funds have to invest in a wide variety of income producing securities,” said Steve Geist, president of CIBC Asset Management.