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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Canadian Imperial Bank of Commerce | TSX:CM | Toronto | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.23 | 0.34% | 68.66 | 68.59 | 68.67 | 68.93 | 68.21 | 68.49 | 2,972,699 | 21:12:09 |
TORONTO, July 5, 2024 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – To further strengthen and build on the success of the CIBC Investment Grade Bond Funds (2025, 2026 and 2027) launched on January 29, 2024, CIBC Asset Management Inc. (CAM) today announced that it plans to grow the target maturity bond fund offering to its clients by launching six new CIBC Investment Grade Bond Funds.
Fund name | Series | Fund code |
CIBC 2028 Investment Grade Bond Fund | Series A Series F
| ATL7012 ATL7013
|
CIBC 2029 Investment Grade Bond Fund | Series A Series F
| ATL7016 ATL7017
|
CIBC 2030 Investment Grade Bond Fund | Series A Series F | ATL7020 ATL7021
|
CIBC 2025 U.S. Investment Grade Bond Fund | Series A Series F
| ATL7024 ATL7025
|
CIBC 2026 U.S. Investment Grade Bond Fund | Series A Series F
| ATL7028 ATL7029
|
CIBC 2027 U.S. Investment Grade Bond Fund | Series A Series F
| ATL7032 ATL7033
|
It is also expected that ETF Series of these funds will be launched on or about July 16, 2024.
Each CIBC 2028 Investment Grade Bond Fund, CIBC 2029 Investment Grade Bond Fund and CIBC 2030 Investment Grade Bond Fund provides a diversified portfolio of Canadian-dollar denominated investment grade corporate and/or government bonds with an effective maturity in the same calendar year.
Each CIBC 2025 U.S. Investment Grade Bond Fund, CIBC 2026 U.S. Investment Grade Bond Fund and CIBC 2027 U.S. Investment Grade Bond Fund provides investors with a diversified portfolio of U.S. dollar denominated investment grade corporate and/or government bonds with an effective maturity in the same calendar year.
Investors will benefit from:
"Building on the success of our initial launch of the CIBC Investment Grade Bond Funds in January 2024, which have grown to over $1.3 billion in assets under management, we are incredibly excited to expand our lineup of target maturity funds. These solutions are designed to help investors reach their shorter-term savings goals with simplicity," said David Scandiffio, President and Chief Executive Officer, CIBC Asset Management.
A copy of the simplified prospectus of the Funds is available at: https://www.renaissanceinvestments.ca/reporting-governance/prospectus
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 and Direct Financial Services businesses, 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 https://www.cibc.com/en/about-cibc/media-centre.html.
About CIBC Asset Management
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 $227 billion in assets under administration as of March 2024.
SOURCE CIBC
Copyright 2024 Canada NewsWire
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