Big Six bank's asset management arm launches ETF units of active sustainable investment solutions on NEO
Following its launch of six active sustainable investing strategies earlier this month, CIBC Asset Management (CAM) has introduced ETF series units of the strategies.
On top of employing positive sector screening for companies that are involved in the renewable energy and green bond space, the solutions are designed to have a smaller carbon footprint and lower exposure to the energy sector than broad market indices.
“We're delighted to introduce this new active line-up to meet the growing demand for ETF solutions with a socially responsible approach, as well as providing our clients the option to select investments based on their personal values,” said CAM President and CEO David Scandiffio.
The solutions also aim to have a lower carbon footprint and energy sector exposure than broad market indices, and employ positive sector screening for companies involved in the renewable energy space and green bonds. They also employ a proprietary ESG analysis and portfolio construction methodology used by CIBC, coupled with customized screening from Sustainalytics.
CAM’s six new ETFs, which are listed on the NEO Exchange, and their corresponding maximum management fees include:
|
Product |
Ticker |
Fees |
|---|---|---|
|
CIBC Sustainable Canadian Core Plus Bond Fund |
CSCP |
0.4 |
|
CIBC Sustainable Canadian Equity Fund |
CSCE |
0.6 |
|
CIBC Sustainable Global Equity Fund |
CSGE |
0.75 |
|
CIBC Sustainable Conservative Balanced Solution |
CSCB |
0.65 |
|
CIBC Sustainable Balanced Solution |
CSBA |
0.7 |
|
CIBC Sustainable Balanced Growth Solution |
CSBG |
0.75 |
“Launching innovative solutions requires partnering with innovators. We chose NEO because of their track record of innovation which they have demonstrated in their ETF closing price methodology as well as their advocacy for making better market data accessible to investors,” said David Stephenson, head of ETF Strategy at CAM. “NEO has been a strong advocate for advancing the ETF industry as a whole and they have the insights and resources to help grow our ETF lineup.”
With the listing of its sustainable ETFs, CAM has become the 20th ETF manager to list on NEO.
“We are honoured that CIBC and CIBC Asset Management chose the NEO Exchange as their preferred listing partner for this suite of ETFs,” said NEO President and CEO Jos Schmitt. “As one of the largest asset managers in Canada, CIBC AM offers a diverse range of actively managed investment products, and these 6 new sustainable ETFs – all based on expert research and socially responsible investing practices – align well with NEO’s core values.”
