CIBC introduces ETF Series to expand its bond funds, providing diverse options for investors
CIBC Asset Management Inc. (CAM) has announced the launch of new ETF Series to expand the successful CIBC Investment Grade Bond Funds.
These funds, which include the 2024, 2025, and 2026 series, were initially launched on January 29, 2024, and followed by more on July 5, 2024. The new ETF Series have completed their initial unit offerings and will start trading on the Cboe Exchange today.
|
Fund name |
Fund code/ETF ticker* |
Management fee* |
|---|---|---|
|
CIBC 2025 Investment Grade Bond Fund ETF Series |
CTBA |
0.15 percent |
|
CIBC 2026 Investment Grade Bond Fund ETF Series |
CTBB |
0.15 percent |
|
CIBC 2027 Investment Grade Bond Fund ETF Series |
CTBC |
0.15 percent |
|
CIBC 2028 Investment Grade Bond Fund ETF Series |
CTBD |
0.15 percent |
|
CIBC 2029 Investment Grade Bond Fund ETF Series |
CTBE |
0.15 percent |
|
CIBC 2030 Investment Grade Bond Fund ETF Series |
CTBF |
0.15 percent |
|
CIBC 2025 US Investment Grade Bond Fund ETF Series |
CTUC.U |
0.15 percent |
|
CIBC 2026 US Investment Grade Bond Fund ETF Series |
CTUD.U |
0.15 percent |
|
CIBC 2027 US Investment Grade Bond Fund ETF Series |
CTUE.U |
0.15 percent |
|
*The annual management fee is equal to the fee paid by the CIBC ETF to CAM and does not include applicable taxes or other fees and expenses of the CIBC ETF. |
||
The CIBC 2028, 2029, and 2030 Investment Grade Bond Fund ETF Series each provide a diversified portfolio of Canadian-dollar denominated investment-grade corporate and government bonds with maturity dates in their respective calendar years.
Similarly, the CIBC 2025, 2026, and 2027 US Investment Grade Bond Fund ETF Series offer diversified portfolios of US dollar-denominated investment-grade corporate and government bonds, maturing in their respective calendar years.
Investors in these funds will benefit from:
- Defined maturity dates: Each fund has a set maturity date, after which the fund's net assets are distributed to investors, similar to individual bonds.
- Simplicity: These funds allow investors to create customized portfolios that align with specific time frames and investment goals, managing interest rate risk like individual bonds or GICs.
- Cash flow management: Monthly income distributions offer the option of consistent cash flow or reinvestment in additional fund units, an option not available with individual bonds.
- Expert management: The funds are actively managed by CIBC Asset Management's Fixed Income team, leveraging their extensive investment and credit expertise.
“Building on the success of our initial launch of the CIBC Investment Grade Bond Funds in January 2024, which have grown to over $1.3bn in assets under management, we are incredibly excited to expand our lineup of target maturity funds,” said David Scandiffio, president and CEO, CIBC Asset Management.
“These solutions are designed to help investors reach their shorter-term savings goals with simplicity,”
