CIBC Asset Management Inc. Announces Unitholder Approval of Fixed Rate Administration Fee | 2021-08-03 | Press Releases

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TORONTO, August 3, 2021 / CNW / – CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. (“CAM”) announced today that unitholders have voted in favor of its proposal to introduce a fixed rate administration fee for Renaissance Investment Funds, Axiom Portfolios and Renaissance Pools Private Company listed below (each a “fund” and collectively the “funds”).

Effective September 1, 2021, CAM, as manager, will pay the operating expenses of each fund, other than certain fees, in exchange for payment by the fund of a fixed rate annual administration fee. These charges will apply to all classes of each fund, except classes O and OH, where applicable, and will be a specified percentage of the net asset value of each class of a fund.

For each fund, the approval of unitholders of the voting classes was required to implement the proposed fixed rate administration fee for that specific fund. Unitholders of other classes of each fund were not entitled to vote and were given notice of the proposed fixed rate administration fee.

During the special fund meetings held on July 30, 2021, the unitholders of the voting classes of the following funds have approved the fixed rate administration fee proposal.

Axiom Wallets

Axiom All Equity Portfolio

Axiom Balanced Growth Portfolio

Axiom Balanced Income Portfolio

Axiom Canadian Growth Portfolio

Axiom Diversified Monthly Income Portfolio

Axiom Foreign Growth Portfolio

Axiom Global Growth Portfolio

Axiom Long Term Growth Portfolio

Renaissance Investments family of funds

Renaissance Canadian All Cap Equity Fund

Renaissance Canadian Balanced Fund

Renaissance Canadian Bond Fund

Renaissance Canadian Core Value Fund

Renaissance Canadian Dividend Fund

Renaissance Canadian Growth Fund

Renaissance Canadian Monthly Income Fund

Renaissance Canadian Small Cap Fund

Renaissance Canadian T-Bill Fund

Renaissance China Plus Fund

Renaissance Corporate Bond Fund

Renaissance Diversified Income Fund

Renaissance Emerging Markets Fund

Renaissance Flexible Yield Fund

Renaissance Floating Rate Income Fund

Renaissance Global Bond Fund

Renaissance Global Concentration Currency Neutral Fund

Renaissance Global Concentration Fund

Renaissance Global Growth Currency Neutral Fund

Renaissance Global Growth Fund

Renaissance Global Healthcare Fund

Renaissance Global Infrastructure Currency Neutral Fund

Renaissance Global Infrastructure Fund

Renaissance Global Markets Fund

Renaissance Global Real Estate Currency Neutral Fund

Renaissance Global Real Estate Fund

Renaissance Global Science and Technology Fund

Renaissance Global Small Cap Fund

Renaissance Global Value Fund

Renaissance High Yield Bond Fund

Renaissance International Dividend Fund

Renaissance International Equity Currency Neutral Fund

Renaissance International Equity Fund

Renaissance High Income Fund

Renaissance Money Market Fund

Renaissance Optimal Conservative Income Portfolio

Renaissance Optimal Global Equity Currency Neutral Portfolio

Renaissance Optimal Global Equity Portfolio

Renaissance Optimal Growth and Income Portfolio

Renaissance Optimal Income Portfolio

Renaissance Optimal Inflation Opportunities Portfolio

Renaissance Real Return Bond Fund

Renaissance Short Term Income Fund

Renaissance U.S. Dollar Corporate Bond Fund

Renaissance U.S. Dollar Diversified Income Fund

Renaissance American Equity Fund

Renaissance U.S. Equity Growth Currency Neutral Fund

Renaissance U.S. Equity Growth Fund

Renaissance U.S. Equity Income Fund

Renaissance U.S. Equity Value Fund

Renaissance U.S. Money Market Fund

Renaissance private pools

Renaissance Canadian Equity Private Pool

Renaissance Canadian Fixed Income Private Pool

Renaissance U.S. Equity Private Pool

Renaissance International Equity Private Pool

Renaissance Emerging Markets Equity Private Pool

Renaissance Global Bond Private Pool

Renaissance Very Short-Term Income Private Pool

Renaissance Equity Income Private Pool

Renaissance Multi-Sector Fixed Income Private Pool

Renaissance Global Multi-Asset Balanced Income Private Pool

Renaissance Global Multi-Asset Balanced Private Pool

Renaissance Global Equity Private Pool

Renaissance Real Assets Private Pool

About CIBC

CIBC is a leading financial institution in North America with 10 million personal, corporate, public sector and institutional clients. In Personal and Small Business Banking, Commercial Banking and Wealth Management and Capital Markets, CIBC offers a full range of advice, solutions and services through its banking network leading digital technology and its locations across Canada, in United States and all over the world. Current press releases and more information about CIBC are available at www.cibc.com/ca/media-centre.

About CIBC Asset Management

CAM, CIBC’s asset management subsidiary, offers a range of high quality investment management services and solutions to retail and institutional investors. CAM’s offerings include: a comprehensive mutual fund platform, strategically managed portfolio solutions, discretionary investment management services for high net worth individuals and institutional portfolio management. CAM is one of the from Canada largest asset management companies, with more than 162 billion dollars in assets under administration at June 2021.

SOURCE CIBC

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