TORONTO, Sept. 26,
2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC Asset
Management Inc. (CAM) announces a change of portfolio advisors to
the CIBC Multi-Sector Fixed Income Private Pool (the "Pool").
Effective on or about October 4,
2024, portfolio management responsibilities for a portion of
the Pool will be assumed or reallocated among the following
portfolio advisor and/or portfolio sub-advisor(s):
CIBC Asset Management, Inc.
DoubleLine Capital LP
As a result, on or about October 4,
2024, the Pool's portfolio allocation will be as
follows:
New portfolio
allocation*
|
%
|
DoubleLine Capital
LP
|
42.5
|
PIMCO Canada Corp. via
CIBC Global Credit Fund
|
42.5
|
CIBC Asset Management,
Inc.
|
10.0
|
Ares Capital Management
LLC via Ares Strategic Income Fund
|
5.0
|
*The portfolio
allocation may change from time to time.
|
About CIBC
CIBC is a leading North American financial institution with 14
million personal banking, business, public sector and institutional
clients. Across Personal and Business Banking, Commercial Banking
and Wealth Management, and Capital Markets, CIBC offers a full
range of advice, solutions and services through its leading digital
banking network, and locations across Canada, in the
United States and around the world. Ongoing news releases and
more information about CIBC can be found
at www.cibc.com/ca/media-centre
About CIBC Asset Management Inc.
CIBC Asset Management, Inc. (CAM), the asset management
subsidiary of CIBC, provides a range of high-quality investment
management services and solutions to retail and institutional
investors. CAM's offerings include: a comprehensive platform of
mutual funds, strategic managed portfolio solutions, discretionary
investment management services for high-net-worth individuals, and
institutional portfolio management. CAM is one of Canada's largest asset management firms, with
over $200 billion in assets under
administration as of July 2024.
SOURCE CIBC