CIBC Alternative Credit Strategy [Series A]

The fund's investment objective is to provide a positive total net return over a full market cycle, regardless of general market direction, by investing primarily in long and short positions in North American corporate and government fixed-income securities.

In pursuing the Fund's investment objective, the Portfolio Advisor:

  • Will use both long and short positioning in a variety of corporate and government instruments.
  • Utilize strategies based on both fundamental credit and macroeconomic views,as well as systematic strategies that may be used to generate positions in credit risk premiums using leverage.
Additional Fund Information

Also available as Series F

Minimum Initial Investment:
Lump Sum

Initial: $500
Subsequent: $50

Distributions: The Fund expects to distribute net income monthly. Distributions of net realized capital gains are expected to occur annually in December of each year, though the Fund may also make distributions of income, capital gains and/or capital at any other time the Manager considers appropriate. All the Fund's distributions will be automatically reinvested in additional Units of the same series of Units of the Fund, unless your dealer has advised the Manager otherwise.
Pre-Authorized Chequing Investment: N/A
Systematic Withdrawal Plan: N/A
Annual Management Fee (excluding applicable taxes): 1.20%
Annual Fixed Administration Fee (excluding applicable taxes): 0.15%
Front-End Load OptionATL5056
Inception DateJun 3, 2022
Fund CodeATL5056
Assets Under Management ($000)
As at : 06/28/2024

CIBC Asset Management is one of Canada's largest asset management firms and provides a broad range of high-quality global investment management solutions to retail and institutional clients.

Jacques Prévost

First Vice-President, Global Fixed Income

Jacques Prévost specializes in active corporate bond management applied to both asset-only and asset-liability portfolios. He also oversees a team responsible for quantitative and structured solutions, and contributes to the firm's research specialization model. Mr. Prévost holds an Honours Bachelor of Science degree from the University of Toronto. He is also a CFA charterholder.

Gaurav Dhiman, CFA

Portfolio Manager, Global Fixed Income

Gaurav Dhiman is responsible for corporate bond portfolio management.

Prior to joining CIBC Asset Management in 2018, Mr. Dhiman was a portfolio manager at Cumberland Private Wealth. At Cumberland, he was solely responsible for the management, research and trading of a high net worth fixed income portfolio. Mr. Dhiman previously worked at Aviva Investors as a portfolio manager and BMO Capital Markets as a research analyst.

Mr. Dhiman holds an MBA degree from the University of Toronto and a Bachelor of Science degree in Computer Engineering from Iowa State University. He is also a CFA charterholder and a member of the CFA Society of Toronto.

Ebad Saif, CFA, Client Portfolio Manager,Global Fixed Income

Ebad Saif is a member of the Client Portfolio Management team covering fixed income. As an integral member of the group, Mr. Saif works with the institutional and retail investment community to deliver solutions that leverage the strengths of the Fixed Income team.

3 mo6 moYTD1 yr3 yrs5 yrs10 yrsSince Inception
3 mo
6 mo
1 yr
3 yrs
5 yrs
10 yrs
Since Inception

As at: 06/28/2024

Calendar Year Performance
Investment Performance

Value of $10,000 invested since inception

The rate of return or mathematical table shown is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the fund or returns on investment in the fund.

Please refer to the Annual/Interim Management Reports of Fund Performance for further details.

There can be no guarantee that the Fund will achieve its return and volatility targets. All investment performance is inherently subject to significant uncertainties and contingencies, many of which are beyond the Manager's control. In considering the return and volatility targets, you should bear in mind that such targeted performance and volatility is not a guarantee, projection or prediction and is not indicative of future results of the Fund.

The fund will make significant use of derivatives. The fund may use derivatives such as futures, forwards, swaps, options, covered warrants, debt like securities which have an option component or any combination of these instruments, the value of which is based upon the market price value or level of an index, or the market price or value of a security, currency, commodity or financial instrument. Derivative instruments may be used for the following purposes: to hedge, gain or reduce portfolio exposures. The fund may also use derivatives for currency management purposes. The fund's use of derivatives may introduce leverage into the fund. Leverage occurs when the fund's notional exposure to underlying assets is greater than the amount invested and is an investment technique that can magnify gains and losses. The information does not constitute legal or tax advice.

The Fund pays a management fee and fixed administration fee to the Manager in respect of Series A, Series F and Series O units. The Fund also pays fund costs and transaction costs. For more information about the fees and costs of the Fund, please read the prospectus.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the Renaissance Investments family of funds simplified prospectus before investing. The indicated rates of return are the historical annual compounded total returns for the class A units including changes in unit value and reinvestment of all distributions, but do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not guaranteed. The values of many mutual funds change frequently. Past performance may not be repeated.