CIBC Asset Management Inc. today announced that it has notified securities regulators of its intention to move forward the financial year-ends of the mutual funds it manages.
This change is to provide a different year-end for these mutual funds from other investment funds managed by CIBC.
The changes of year-ends for CIBC’s families of mutual funds are as follows:
- Renaissance Mutual Funds, Talvest Funds, and Sequence Portfolios year-ends will be changed from December 31 to August 31;
- Frontiers Pools and Axiom Portfolios year-ends will be changed from September 30 to August 31.
As a result of the shortened financial year, the Renaissance Mutual Funds, Talvest Funds, and Sequence Portfolios will not be required to prepare interim financial statements and interim management reports of fund performance, which would ordinarily have been required for the six-month period ending June 30, 2006. The next financial statements and management reports of fund performance prepared for these families will be for the eight-month period ending Aug31, 2006.