CIBC makes manager moves on balanced and foreign equity funds

Rudy Luukko 22 May, 2014 | 2:46AM

CIBC Asset Management Inc. is adding new foreign expertise in June to its largest mutual fund and making portfolio-manager changes for several foreign equity funds.

The $6.3-billion CIBC Monthly Income, as well as the $145-million Renaissance Canadian Monthly Income which has the same CIBC management team, will add American Century Investment Management Inc. as a portfolio advisor for their foreign-securities portions.

The new roles for American Century, which is 41% owned by CIBC Asset Management's parent CIBC CM, will take effect on June 12. Based in Kansas City, American Century manages an estimated US$150 billion.

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About Author

Rudy Luukko

Rudy Luukko  Rudy Luukko is a freelance writer who contributes to Morningstar.ca on topics involving fund industry trends and regulatory issues. He retired in May 2018 from his position as editor, investment and personal finance, at Morningstar Canada, where he had worked since 2004. He has also worked as an editor and writer for various general, specialty and institutional media, and he has co-authored courses for the Canadian Securities Institute. Follow Rudy on Twitter: @RudyLuukko.

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