CIBC Asset Management Inc. has launched new class F-premium units on three key funds within its Renaissance Investments fixed income line up: Renaissance Corporate Bond Capital Yield Fund, Renaissance Canadian Bond Fund and Renaissance Short-Term Income Fund.
CIBC says the addition of the new class will enhance the choice available to high-net-worth clients with fee-based accounts, offering investors even greater value through lower management fees at higher investment amounts.
“The new class F-Premium units will provide additional choice to higher-net-worth clients with fee-based accounts,” says Steve Geist, President of CIBC Asset Management.
Subject to an initial minimum investment of $100,000, this new class is available to clients participating in fee-based or wrap account programs. Class F-premium units carry the same characteristics as the class A units of the funds; however, the higher investment minimums allow for lower management fees in order to provide investors with greater net returns.