CIBC AM launches new flexible yield ETF
CIBC Asset Management launched Jan. 27 the CIBC Flexible Yield ETF (CAD-Hedged). This new actively-managed exchange-traded fund (ETF) is designed to help investors access global fixed income markets.
"Investors are increasingly looking for active fixed income solutions to help them diversify their portfolios, and we are pleased to deliver an ETF solution to meet these needs," says David Scandiffio, President and CEO, CIBC Asset Management.
The new ETF seeks to generate long-term total return and current income by investing in high-yielding debt and investment grade fixed income securities of issuers located anywhere in the world, says CIBC AM. Exposure to these types of securities will be obtained by investing primarily in hedge class units of Renaissance Flexible Yield Fund, which is sub-advised by Doubleline Capital LP.