{"id":522088,"date":"2021-08-03T08:05:12","date_gmt":"2021-08-03T12:05:12","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cibc-asset-management-inc-announces-unitholder-approval-of-a-fixed-rate-administration-fee\/"},"modified":"2021-08-03T08:05:12","modified_gmt":"2021-08-03T12:05:12","slug":"cibc-asset-management-inc-announces-unitholder-approval-of-a-fixed-rate-administration-fee","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cibc-asset-management-inc-announces-unitholder-approval-of-a-fixed-rate-administration-fee\/","title":{"rendered":"CIBC Asset Management Inc. announces unitholder approval of a fixed rate administration fee"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">Canada NewsWire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">TORONTO<\/span>, <span class=\"xn-chron\">Aug. 3, 2021<\/span> \/CNW\/ &#8211;\u00a0<b>CIBC <\/b>(TSX: CM) (NYSE: CM) \u2013 CIBC Asset Management Inc. (&#8220;CAM&#8221;) today announced that unitholders have voted in favour of its proposal to introduce a fixed rate administration fee for the Renaissance Investment Funds, Axiom Portfolios and Renaissance Private Pools listed below (each a &#8220;fund&#8221; and collectively the &#8220;funds&#8221;).<\/p>\n<p>Effective <span class=\"xn-chron\">September 1, 2021<\/span>, CAM, as manager, will pay the operating expenses of each fund, other than certain expenses, in exchange for the payment by the fund of an annual fixed rate administration fee. This fee will apply to all classes of each fund, other than Class O and Class OH, if available, and will be equal to a specified percentage of the net asset value of each class of a fund. \u00a0<\/p>\n<p>For each fund, the approval of unitholders in the voting classes was required to implement the fixed rate administration fee proposal for that specific fund. Unitholders in other classes of each fund were not entitled to vote and received notice of the fixed rate administration fee proposal.<\/p>\n<p>At the special meetings of the funds held on <span class=\"xn-chron\">July 30, 2021<\/span>, unitholders in the voting classes of the following funds have approved the fixed rate administration fee proposal.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntbls\">\n<tr>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <u>Axiom Portfolios<\/u><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Axiom All Equity Portfolio <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Axiom Balanced Growth Portfolio <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Axiom Balanced Income Portfolio <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Axiom Canadian Growth Portfolio<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Axiom Diversified Monthly Income Portfolio <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Axiom Foreign Growth Portfolio <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Axiom Global Growth Portfolio <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Axiom Long-Term Growth Portfolio<\/span>\n              <\/p>\n<p class=\"prnews_p\">\u00a0<\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <u>Renaissance Investments family of funds<\/u><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Canadian All-Cap Equity Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Canadian Balanced Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Canadian Bond Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Canadian Core Value Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Canadian Dividend Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Canadian Growth Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Canadian Monthly Income Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Canadian Small Cap Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Canadian T-Bill Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance China Plus Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Corporate Bond Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Diversified Income Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Emerging Markets Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Flexible Yield Fund\u00a0 <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Floating Rate Income Fund <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Global Bond Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Global Focus Currency Neutral Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Global Focus Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Global Growth Currency Neutral Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Global Growth Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Global Health Care Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Global Infrastructure Currency Neutral Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Global Infrastructure Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Global Markets Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Global Real Estate Currency Neutral Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Global Real Estate Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Global Science and Technology Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Global Small-Cap Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Global Value Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance High Yield Bond Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance International Dividend Fund<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance International Equity Currency Neutral Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance International Equity Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance High Income Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Money Market Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Optimal Conservative Income Portfolio <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Optimal Global Equity Currency Neutral Portfolio <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Optimal Global Equity Portfolio <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Optimal Growth &amp; Income Portfolio <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Optimal Income Portfolio <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Optimal Inflation Opportunities Portfolio<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Real Return Bond Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Short Term Income Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance U.S. Dollar Corporate Bond Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance U.S. Dollar Diversified Income Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance U.S. Equity Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance U.S. Equity Growth Currency Neutral Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance U.S. Equity Growth Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance U.S. Equity Income Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance U.S. Equity Value Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance U.S. Money Market Fund<\/span>\n              <\/p>\n<p class=\"prnews_p\">\u00a0<\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <u>Renaissance Private Pools<\/u><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Canadian Equity Private Pool<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Canadian Fixed Income Private Pool<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance U.S. Equity Private Pool<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance International Equity Private Pool <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Emerging Markets Equity Private Pool<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Global Bond Private Pool<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Ultra Short-Term Income Private Pool <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Equity Income Private Pool<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Multi-Sector Fixed Income Private Pool <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Multi-Asset Global Balanced Income Private Pool<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Multi-Asset Global Balanced Private Pool<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Global Equity Private Pool <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Renaissance Real Assets Private Pool<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>About CIBC<br \/><\/b>CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Small Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across <span class=\"xn-location\">Canada<\/span>, in <span class=\"xn-location\">the United States<\/span> and around the world. Ongoing news releases and more information about CIBC can be found at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3245189-1&amp;h=2404398459&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D2679805-1%26h%3D1558623209%26u%3Dhttps%253A%252F%252Fwww.cibc.com%252Fen%252Fabout-cibc%252Fmedia-centre.html%26a%3Dwww.cibc.com%252Fca%252Fmedia-centre&amp;a=www.cibc.com%2Fca%2Fmedia-centre.\" rel=\"nofollow noopener\">www.cibc.com\/ca\/media-centre.<\/a><\/p>\n<p>\n        <b>About CIBC Asset Management <br \/><\/b>CAM, the asset management subsidiary of CIBC, provides a range of high-quality investment management services and solutions to retail and institutional investors. CAM&#8217;s offerings include: a comprehensive platform of mutual funds, strategic managed portfolio solutions, discretionary investment management services for high-net-worth individuals, and institutional portfolio management. CAM is one of <span class=\"xn-location\">Canada&#8217;s<\/span> largest asset management firms, with over <span class=\"xn-money\">$162 billion<\/span> in assets under administration as of <span class=\"xn-chron\">June 2021<\/span>.<\/p>\n<p>SOURCE  CIBC<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C5148&amp;Transmission_Id=202108030800CANADANWWEB______C5148&amp;DateId=20210803\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada NewsWire TORONTO, Aug. 3, 2021 \/CNW\/ &#8211;\u00a0CIBC (TSX: CM) (NYSE: CM) \u2013 CIBC Asset Management Inc. (&#8220;CAM&#8221;) today announced that unitholders have voted in favour of its proposal to introduce a fixed rate administration fee for the Renaissance Investment Funds, Axiom Portfolios and Renaissance Private Pools listed below (each a &#8220;fund&#8221; and collectively the &#8220;funds&#8221;). Effective September 1, 2021, CAM, as manager, will pay the operating expenses of each fund, other than certain expenses, in exchange for the payment by the fund of an annual fixed rate administration fee. This fee will apply to all classes of each fund, other than Class O and Class OH, if available, and will be equal to a specified percentage of the net &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cibc-asset-management-inc-announces-unitholder-approval-of-a-fixed-rate-administration-fee\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;CIBC Asset Management Inc. announces unitholder approval of a fixed rate administration fee&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-522088","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CIBC Asset Management Inc. announces unitholder approval of a fixed rate administration fee - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cibc-asset-management-inc-announces-unitholder-approval-of-a-fixed-rate-administration-fee\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIBC Asset Management Inc. announces unitholder approval of a fixed rate administration fee - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Canada NewsWire TORONTO, Aug. 3, 2021 \/CNW\/ &#8211;\u00a0CIBC (TSX: CM) (NYSE: CM) \u2013 CIBC Asset Management Inc. (&#8220;CAM&#8221;) today announced that unitholders have voted in favour of its proposal to introduce a fixed rate administration fee for the Renaissance Investment Funds, Axiom Portfolios and Renaissance Private Pools listed below (each a &#8220;fund&#8221; and collectively the &#8220;funds&#8221;). Effective September 1, 2021, CAM, as manager, will pay the operating expenses of each fund, other than certain expenses, in exchange for the payment by the fund of an annual fixed rate administration fee. This fee will apply to all classes of each fund, other than Class O and Class OH, if available, and will be equal to a specified percentage of the net &hellip; Continue reading &quot;CIBC Asset Management Inc. announces unitholder approval of a fixed rate administration fee&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/cibc-asset-management-inc-announces-unitholder-approval-of-a-fixed-rate-administration-fee\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-03T12:05:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C5148&amp;Transmission_Id=202108030800CANADANWWEB______C5148&amp;DateId=20210803\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cibc-asset-management-inc-announces-unitholder-approval-of-a-fixed-rate-administration-fee\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cibc-asset-management-inc-announces-unitholder-approval-of-a-fixed-rate-administration-fee\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"CIBC Asset Management Inc. announces unitholder approval of a fixed rate administration fee\",\"datePublished\":\"2021-08-03T12:05:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cibc-asset-management-inc-announces-unitholder-approval-of-a-fixed-rate-administration-fee\\\/\"},\"wordCount\":732,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cibc-asset-management-inc-announces-unitholder-approval-of-a-fixed-rate-administration-fee\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/rt.prnewswire.com\\\/rt.gif?NewsItemId=C5148&amp;Transmission_Id=202108030800CANADANWWEB______C5148&amp;DateId=20210803\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cibc-asset-management-inc-announces-unitholder-approval-of-a-fixed-rate-administration-fee\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/cibc-asset-management-inc-announces-unitholder-approval-of-a-fixed-rate-administration-fee\\\/\",\"name\":\"CIBC Asset Management Inc. announces unitholder approval of a fixed rate administration fee - 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