CIBC Asset Management Inc. today announced the successful merger of 19 mutual funds. The move to merge funds that share similar investment objectives was completed as part of a broader initiative creating a unified offering under the brand Renaissance Investments, which was also launched today.

“Renaissance Investments combines the strengths of the Talvest and Renaissance mutual fund families, creating a unified offer that will benefit our clients,” says Steve Geist, president of CIBC Asset Management Inc. “The Renaissance Investments line-up of investment solutions was enhanced to provide investors the very best in choice, value and investment management expertise.”

For a complete list of the funds were merged and, in some cases, renamed, please refer to the attached news relelease.

CIBC Asset Management Inc. also confirmed the successful termination of the Talvest Cdn. Multi Management Fund on August 10. The decision to
terminate the fund resulted from the merger of several of its underlying funds.

Unitholders of Talvest Cdn. Multi Management Fund were given direct ownership of units in the four underlying funds. On August 17, three of the four funds were merged and renamed.

Talvest Canadian Equity Value Fund was merged into Renaissance Canadian Core Value Fund.

Talvest Canadian Equity Growth Fund was merged into Renaissance Canadian Growth Fund.

Talvest Small Cap Canadian Equity Fund was merged into Renaissance Canadian Small-Cap Fund.

The fourth fund, Talvest Millennium Next Generation Fund, was renamed Renaissance Millennium Next Generation Fund.

The fund mergers were not subject to any unitholder or regulatory approvals due to the similar nature, fee structure and valuation procedures of each terminating fund and continuing fund.