CIBC Asset Management launches range of new funds

“Canadians are seeking more diversified sources of income and stability from their investments. They need shelter from the potential of rising interest rates. More Canadians also need solutions designed specifically for investing U.S. dollars,” says Steve Geist, president of CAMI. “These are among the key challenges that we have addressed with the addition of new solutions to the Renaissance Investments family of funds.”

Renaissance Floating Rate Income Fund aims to provide investors with a high level of current income and mitigate the impact of rising interest rates, primarily through investment in U.S. senior floating rate bank loans, other floating rate debt instruments and lower-rated debt securities (including high-yield corporate bonds) of issuers around the world. The fund is sub-advised by Los-Angeles based Ares Management.

Renaissance U.S. Equity Income Fund seeks to provide current income and long-term capital growth by investing primarily in a diversified portfolio of U.S. equities. The fund is based on a flagship equity income mandate from American Century Investments of Kansas City, Mo., with a proven track record of providing income and delivering superior results since 1994.

Renaissance U.S. Dollar Corporate Bond Fund seeks to generate income by investing primarily in bonds, debentures, notes and other debt instruments of U.S. issuers. The is sub-advised by Philadelphia-based Logan Circle Partners.

Renaissance U.S. Dollar Diversified Income Fund aims to generate a high level of income and some potential for capital appreciation by investing primarily in units of mutual funds that invest in fixed income (80% of portfolio) and equity securities (20% of portfolio) of U.S. issuers. The sub-advisors of underlying funds Logan Circle Partners and American Century Investments.

Two new all-in-one, core investment solutions strategically combine diverse asset classes typically used by pension funds (including Canadian and U.S. equity income, global fixed income and global infrastructure) to generate income and provide stability in uncertain times.

Renaissance Optimal Conservative Income Portfolio prioritizes steady income with an asset mix of 80% fixed income and 20% equities. Sub-advisors of underlying funds: CIBC Global Asset Management; Brandywine Global Investment Management, LLC; RARE Infrastructure Ltd; and Ares Management.

Renaissance Optimal Growth & Income Portfolio offers additional long-term growth potential alongside income with an asset mix of 60% equities and 40% fixed income. Sub-advisors of underlying funds: CIBC Global Asset Management; American Century Investments; Philadelphia-based Brandywine Global Investment Management; Sydney, Australia-based RARE Infrastructure; Ares Management.

Premium Class and Class F-Premium options are available on many of the new offerings and will also be added to the following funds: Renaissance Global Bond Fund; Renaissance High-Yield Bond Fund; and Renaissance Real Return Bond Fund.