CIBC launches fixed income ETFs

Toronto-based CIBC Asset Management Inc. has added to its actively managed fixed-income lineup.

The asset manager launched three ETFs on Thursday: CIBC Conservative Fixed Income Pool – ETF Series; CIBC Core Fixed Income Pool – ETF Series; and CIBC Core Plus Fixed Income Pool – ETF Series.

The new funds are meant to be long-term core bond holdings and feature built-in rebalancing and tactical asset allocation. They include actively managed investments in government and corporate bonds across the spectrum of investment grade and high-yield bonds, geography and currency.

The conservative pool invests primarily in other mutual funds holding fixed-income securities with the objective of providing investors with regular income.

The core and core plus pools’ goals are to generate steady income along with modest long-term capital appreciation. They also invest in other fixed-income mutual funds.

All three funds have a management fee of 0.3%. The funds trade on the Toronto Stock Exchange.

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