CIBC Asset Management Inc. has announced portfolio sub-advisor changes to the Renaissance Canadian Growth Fund, the Frontiers Canadian Equity Pool and the Frontiers Canadian Fixed Income Pool.
“As always, the sub-advisors we are adding have passed through our rigorous investment management research process, which uses quantitative and qualitative analysis to uncover investment managers, and combinations of managers, that are best positioned to deliver for our clients,” said Steve Geist, president of CIBC Asset Management.
A combination of Picton Mahoney Asset Management, Guardian Capital LP and Connor, Clark & Lunn Investment Management Ltd. (CC&L) have been appointed portfolio sub-advisors of the Renaissance Canadian Growth Fund.
Toronto-based Picton Mahoney, a boutique portfolio management firm, uses a process that blends an advanced quantitative model with qualitative fundamental analysis.
Guardian, a wholly-owned division of Guardian Capital Group Limited, provides investment management services to both institutional and retail clients. CC&L, wholly owned by its partners and the CC&L Financial Group, has extensive in-house research capabilities.
Meanwhile, Picton Mahoney, Triasima Portfolio Management and CC&L have been appointed portfolio sub-advisors of the Frontiers Canadian Equity Pool, a multi-manager product.
Triasima is an independent Canadian investment management firm that applies a proprietary investment methodology using three approaches: fundamental analysis, quantitative analysis and trend analysis.
Picton Mahoney will manage the growth component, Triasima will manage the core sleeve and CC&L will manage the small-cap component of the pool. CIBC Global Asset Management Inc. will continue to serve as portfolio sub-advisor within the Canadian All-Cap Value component of the pool.
Baker Gilmore and Associates Inc., Pacific Investment Management Company LLC (PIMCO) and Brandywine Global Investment Management, LLC (Brandywine) have been appointed portfolio sub-advisors of the Frontiers Canadian Fixed Income Pool, a broad multi-manager offer.
Baker Gilmore, a specialty fixed income manager, will run the core component of the pool.
Newport Beach, Calif.-based PIMCO, a global investment solutions provider, will run the core plus component of the pool; and Brandywine will run the high yield component of the pool.
Canso Investment Counsel Ltd. will continue to serve as portfolio sub-advisor of the corporate bond component of the Frontiers Canadian Fixed Income Pool.
These changes will also impact the Axiom Portfolios – managed portfolio solutions which utilize both the Frontiers Canadian Equity Pool and Frontiers Canadian Fixed Income Pool in creating portfolios for clients.
All changes are expected to take effect on July 18, 2012.