CIBC Asset Management Announces Portfolio Management Changes
CIBC Asset Management Inc. today announced changes to its lineup of global and Canadian bond pools that will be effective on or about April 1, 2019.
Renaissance Canadian Fixed Income Private Pool
CIBC Asset Management is assuming core advisor responsibilities and joins Canso Investment Counsel Ltd. and Alliance Bernstein L.P. in managing the Renaissance Canadian Fixed Income Private Pool.
Renaissance Global Bond Private Pool
CIBC Asset Management has been added as a core portfolio advisor for the Renaissance Global Bond Private Pool, joining Brandywine Global Investment Management LLC and Wellington Management Canada ULC.
Currency Management Approach Change
The Renaissance Global Bond Private Pool will approach currency management from a Canadian investor’s perspective. With the change, the pool will generally hedge foreign currency exposure back to the Canadian dollar. However, the pool may take non-Canadian dollar currency positions as conditions warrant based upon the currency outlook of the portfolio advisor or sub-advisor(s). This approach to currency management is intended to reduce the overall pool volatility for Canadian investors while participating in global fixed income markets.
Renaissance Private Pools are available through the Renaissance Private Investment Program
and are underlying investments of Axiom Portfolios