TORONTO, Feb. 27,
2023 /CNW/ - CIBC (TSX: CM) (NYSE: CM) — CIBC
Asset Management Inc. (CAM) today announced the extension of its
ETF (exchange-traded fund) line-up by launching the CIBC
International Equity Index ETF (CAD-Hedged) (CIEH). This new ETF
aims to replicate the performance of a broad international equity
market index by Morningstar Research Inc., an independent
investment research and index provider. CAM is pleased to leverage
Morningstar's high-calibre index construction capabilities to
present low-cost, diversified solutions for our clients' investment
needs.
The CIBC International Equity Index ETF (CAD-Hedged) offers
investors broad exposure to international equities, hedged to the
Canadian dollar and builds upon the core CIBC Index ETFs CAM
launched on January 23, 2023. CAM now
offers nine low cost CIBC Index ETFs designed to cover the core
exposures in a typical asset allocation strategy.
With the launch of these products, CAM will offer a diverse
range of ETFs encompassing active, quantitative and competitively
priced index ETFs which are among the lowest-cost ETFs currently
available in the Canadian market. These solutions draw upon
the deep knowledge and expertise that CAM has successfully built
and demonstrated over the years.
The CIBC International Equity ETF's initial offering of units
begins trading on the Toronto Stock Exchange today. More details
about our CIBC's ETF line-up can be found here.
TSX
ticker
|
ETF
name
|
Index
name
|
Annual
Management Fee*
|
CIEH
|
CIBC International
Equity
Index ETF (CAD-Hedged)
|
Morningstar® Developed
Markets ex-
North America Target Market
Exposure Hedged CAD Index™
|
0.16 %
|
*The management fee is
equal to the fee paid by the CIBC ETF to CAM and does not include
applicable taxes or other fees and expenses of the CIBC
ETF.
|
CIBC ETFs are managed by CIBC Asset Management Inc., a subsidiary
of Canadian Imperial Bank of Commerce. Commissions, management fees
and expenses all may be associated with investments in exchange
traded funds (ETFs). Please read the CIBC ETFs prospectus or ETF
Facts document before investing. To obtain a copy, call
1-888-888-3863, ask your advisor or visit www.cibc.com/etfs.
ETFs are not guaranteed, their values change frequently, and past
performance may not be repeated.
This document is provided for general informational purposes
only and does not constitute financial, investment, tax, legal or
accounting advice nor does it constitute an offer or solicitation
to buy or sell any securities referred to. Individual circumstances
and current events are critical to sound investment planning;
anyone wishing to act on this document should consult with his or
her advisor. All opinions and estimates expressed in this document
are as of the date of publication unless otherwise indicated, and
are subject to change.
Index Disclaimer
Morningstar® Developed Markets ex-North America Target Market
Exposure Hedge CAD Index™ is a trademark or service mark of
Morningstar, Inc. and have been licensed for use for certain
purposes by CIBC Asset Management Inc. CIBC International Equity
Index ETF (CAD-hedged) (the "CIBC Index ETF") is not sponsored,
endorsed, sold or promoted by Morningstar, and Morningstar makes no
representation regarding the advisability of investing in the CIBC
Index ETF.
About CIBC
CIBC is a leading North American financial institution with
13 million personal banking, business, public sector and
institutional clients. Across Personal and Business Banking,
Commercial Banking and Wealth Management, and Capital Markets
businesses, CIBC offers a full range of advice, solutions and
services through its leading digital banking network and locations
across Canada, with offices 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
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 $170 billion in assets under
administration as of November
2022.
SOURCE CIBC