CIBC Asset Management Inc., a big company that helps people invest their money, has launched new exchange-traded funds (ETFs) in Canada. These ETFs are like a basket of bonds that invest in government and corporate bonds in Canada or the United States. The bonds have the same maturity date, which means they will be paid back at the same time. This makes it easier for investors to plan their savings goals and manage their money. The company hopes these new ETFs will help people reach their shorter-term savings goals with simplicity and have more cash flow management. Read from source...
- Announces the expansion of the CIBC Investment Grade Bond Funds lineup with new ETF series available
- The CIBC Investment Grade Bond Funds have grown to over $1.3 billion in assets under management
- The new ETF Series have closed their initial offerings of units and will begin trading on the Cboe Exchange today
- Each ETF Series provides a diversified portfolio of Canadian-dollar denominated investment grade corporate and/or government bonds with an effective maturity in the same calendar year
- Each U.S. dollar denominated ETF Series provides investors with a diversified portfolio of U.S. dollar denominated investment grade corporate and/or government bonds, with an effective maturity in the same calendar year
- Investors will benefit from defined maturity dates, simplicity, cash flow management, and scale and expertise
- David Scandiffio, President and Chief Executive Officer of CIBC Asset Management, commented on the announcement
- A copy of the simplified prospectus of the Funds is available at: https://www.cibc.com/en/personal-banking/investments/etfs.html
- CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients
- CIBC Asset Management Inc. (CAM) is one of Canada's largest asset management firms, with over $227 billion in assets under administration as of March 2024
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Article's Content: The article is a press release announcing the expansion of the CIBC Investment Grade Bond Funds lineup with new ETF series available. It provides details on the funds, their management fees, and their investment strategies. The article also mentions the benefits of investing in the funds, such as defined maturity dates, simplicity, cash flow management, and scale and expertise.
CIBC Asset Management Inc. (CAM) announced the launch of the following ETF Series that have closed their initial offerings of units and will begin trading on the Cboe Exchange today. The ETFs provide investors with a diversified portfolio of Canadian-dollar denominated investment grade corporate and/or government bonds with an effective maturity in the same calendar year. They are designed to help investors reach their shorter-term savings goals with simplicity and manage interest rate risk.