CIBC AM to terminate resource fund

CIBC Asset Management Inc. (CIBC AM) intends to terminate Renaissance Global Resource Fund on or about Oct. 18, the Toronto-based company announced Thursday.

The decision was made due to the fund’s relatively small asset size, CIBC AM says in a release.

Unitholders will have the right to redeem their investments in the fund up to the close of business on the effective termination date. They will not be required to pay any redemption fees, sales charges or other fees associated with the fund’s termination.

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