CIBC names new subadvisor

Vancouver-based Connor Clark & Lunn Investment Management Ltd. (CC&L) is now subadvisor to Renaissance High Income Fund (previously called Renaissance Millennium High Income Fund), sponsored by Toronto-based CIBC Asset Management Inc. CC&L offers several investment-management services, including equities, fixed-income, balanced and alternative solutions (including market-neutral and high-income strategies). The privately owned CC&L manages financial assets for pension fund sponsors, capital accumulation plans, corporations, not-for-profit organizations, First Nations, mutual funds and individual investors. Advisor commissions for Renaissance High Income Fund are 0%-5% for front-end sales, 5% for deferred sales or 3% for the low-load option. Redemption fees begin at 5.5% in Year 1 and end at zero after Year 6 for the regular DSC schedule, or begin at 3% in Year 1 and end at zero after Year 3 for the low-load schedule. Trailing commissions are 1.1% for front-end sales; 0.5% for the first six years of deferred sales, and 1.1% thereafter; and 0.5% for the first three years of low-load sales, and 1.1% thereafter. Management fees are 2% for A-class units and 0.9% for F-class units. Minimum investment is $500.

fcollie@investmentexecutive.com