CIBC Asset Management has recently expanded its pooled fund offering with a suite of new fixed income products for institutional investors, and has added to the strength of its team with four new hires.
New Pooled Fund Launch
CAM introduced two new pooled funds, the CIBC Canadian Bond Core Plus Pool and the CIBC High Yield Bond Pool to enable institutional investors to diversify fixed income holdings beyond a traditional core strategy.
CIBC Canadian Bond Core Plus Pool
The CIBC Canadian Bond Core Plus Pool employs a multi-strategy active approach for managing Canadian fixed income to improve portfolio diversification and enhance expected returns by allocating beyond the Canadian market.
"The CIBC Canadian Bond Core Plus Pool follows an enhanced fixed income strategy, which includes elements such as global developed sovereign bonds and high yield bonds that can be added alongside an active Canadian core portfolio," said Kerry Stirton, Managing Director, Institutional Advisory Group at CIBC Asset Management. "This approach aims to achieve the right balance of return enhancement and risk awareness for Canadian institutional fixed income investors."
CIBC High Yield Bond Pool
Following a disciplined and rigorous credit research process, the CIBC High Yield Bond Pool provides a global portfolio seeking additional yield and price appreciation opportunities with modest incremental risk.
The CIBC High Yield Bond Pool has been structured to minimize the impact of company-specific events. The high yield portfolio is constructed of undervalued and underrated securities, attempting to avoid distressed and deteriorating credits, which seek to achieve long-term superior risk adjusted performance.
"In today’s environment, high yield companies are issuing debt at what have traditionally been investment-grade yields, potentially leading to fewer defaults in high yield bonds for the foreseeable future," says Mr. Stirton. "In the event that interest rates rise, high yield securities can provide a cushion and have historically generated positive total returns during periods of rising interest rates."
Recent Team Additions
In addition to these recently launched fixed income institutional pools, CIBC Asset Management continues to focus on delivering leading research and portfolio management to its clients, with the addition of four new members to the team:
Consistent with its commitment to independent corporate credit analysis, CIBC Asset Management is pleased to announce that Trevor Bateman has joined the team as Vice President, Senior Analyst, Credit. Mr. Bateman brings 21 years of industry experience and 16 years of credit analysis experience to CAM.
CAM continues to build its strong global resource investment capabilities with the addition of two highly regarded investment professionals: Scott Vali, as recently announced, has joined CIBC Asset Management as Vice President, Portfolio Manager, Equities and Sara Shahram has joined as Associate Portfolio Manager, Equities. Mr. Vali and Ms. Shahram complement our existing team of very experienced resource specialists.
In addition, Brent Reuter has joined CAM’s Business Development team as Vice President, Institutional Business Development. Brent has 22 years of experience in various distribution roles in Canada and globally, most recently with RBC.
Several of CIBC’s institutional pooled funds, including the CIBC Canadian Bond Core Plus Pool, the CIBC High Yield Bond Pool and the CIBC Global Equity Growth Pool have recently been added to a major insurance company’s consultant platform. These funds will be available for investment on the Defined Benefit Investment Only platform, and the CIBC Canadian Bond Core Plus Pool and the CIBC Global Equity Growth Pool are available on the Defined Contribution platform.