CIBC Asset Management Inc. (CAM) has announced that effective on or about April 15, American Century Investment Management will take over as sub-advisor for the $52.6-million CIBC International Small companies. The Morningstar 4-star rated fund has been managed by Michael McLaughlin of Pictet Asset Management Ltd. since January 2002.
This latest assignment for American Century follows the Kansas City asset manager's appointment as sub-advisor to two new funds in CAM's Renaissance family last September. CAM's parent company, the Canadian Imperial Bank of Commerce CM acquired a 41% stake in American Century in August 2011.
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