CIBC Asset Management named three new portfolio sub-advisors.
American Century Investment Management Inc. will be a sub-advisor for the foreign securities portion of CIBC Monthly Income Fund and Renaissance Canadian Monthly, effective June 12. CIBC acquired a 41% minority share in American Century in 2011; the company has $150 billion in AUM.
Amundi Canada Inc. will be a portfolio sub-advisor for CIBC’s Renaissance China Plus Fund and its Renaissance Asian Fund effective June 20. Amundi has AUM of nearly $1.2 trillion globally.
Pzena Investment Management LLC will be a sub-advisor for CIBC’s Renaissance Global Value Fund, effective June 20. Pzena has $27 billion in AUM.