Toronto-based CIBC Asset Management Inc. on Friday launched currency-hedged classes for the Renaissance U.S. Equity Income Fund.

The new offering will provide Canadian investors with the opportunity to access the benefits of exposure to dividend-paying U.S. equities, while mitigating the impact of currency fluctuations.

The fund sub-advised by Kansas City, Mo.-based American Century Investments and seeks to provide current income and long-term capital growth by investing primarily in a diversified portfolio of equity securities of companies located in the United States.

CIBC owns a 41% equity interest in American Century, a major U.S. asset management, serving financial intermediaries, institutions and individuals.