CIBC AM to close fundpar The IJ Staff | April 26 2019 09:30AM
CIBC Asset Management announced on April 25 that it intends to terminate the Renaissance Global Resource Fund in October.
“The decision to terminate the fund was made due to the fund's relatively small asset size,” said the company.
Unitholders will have the right to redeem their investments in the fund up to the close of business on the termination date (on or about Oct. 18). Unitholders will not be required to pay any redemption fees, sales charges or other fees associated with the termination of the fund.
CIBC AM encourages all unitholders “to consult with their financial advisors to discuss the financial and tax implications of the termination and to determine the solution that best suits their investment needs and personal situation.”