CIBC Asset Management has launched new low-cost exchange traded fund (ETF) solutions aimed at complementing its existing fund lineup and offering more options to help investors achieve their financial goals.
“Our entry into the growing ETF industry is a natural extension of our investment capabilities, allowing us to deliver solutions that meet clients’ varying investment needs when it comes to structure or price,” says David Scandiffio, President and CEO, CIBC Asset Management.
CIBC Asset Management is launching two strategic beta equity ETFs (one with a currency-hedged option) and two actively-managed fixed income ETFs with management fees ranging from 0.25 per cent to 0.35 per cent.
The strategic beta ETFs are designed to act as core holdings, providing clients with diversified exposure to Canadian and US equity markets using a proprietary rules-based approach. The intent of the actively-managed ETFs is to diversify fixed income portfolios and generate current income for investors, while preserving capital.
“We have a long history of managing active and passive strategies and we developed these ETFs with our clients’ evolving needs in mind, including solutions for a low-yield, rising rate environment,” says Scandiffio.
Each of the following funds has closed its initial offering of units is now trading on the Toronto Stock Exchange: CIBC Multifactor Canadian Equity ETF (CMCE); CIBC Multifactor U.S. Equity ETF (CMUE); CIBC Multifactor US Equity ETF (CAD-Hedged) (CMUE.F); CIBC Active Investment Grade Floating Rate Bond ETF (CAFR); and CIBC Active Investment Grade Corporate Bond ETF (CACB).