CIBC Asset Management Inc. announces that the CIBC Ares Strategic Income Fund is now available for purchase
TORONTO, Dec. 15, 2023 /CNW/ - CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. (CAM) today announced that the CIBC Ares Strategic Income Fund (the "Fund"), managed by CAM, is now available for purchase. The Fund will provide Canadian accredited investors with access to the Ares Strategic Income Fund ("ASIF"), a private credit solution that is managed by Ares Capital Management LLC, which forms part of the Ares Credit Group, a leading manager of liquid and illiquid credit strategies.
ASIF seeks to generate current income, the potential for capital appreciation and attractive risk-adjusted returns through market cycles. ASIF primarily invests in directly originated, senior secured, floating rate loans to U.S. companies.
With the growth of private credit, investors are looking to complement their fixed income strategies to take advantage of diversifying income solutions that provide yield enhancement. CAM began its partnership with ARES, one of the world's most experienced private credit managers, in December 2022 with a seed allocation to ASIF through a number of our funds. Today's announcement means that this exclusive access is now available to Canadian accredited investors seeking much needed diversification in the form of institutional quality alternative strategies.
For more information, visit https://www.renaissanceinvestments.ca/
About CIBC
CIBC is a leading North American financial institution with 14 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets and Direct Financial Services businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/ca/media-centre.
About CIBC Asset Management
CIBC Asset Management Inc. (CAM), the asset management subsidiary of CIBC, provides a range of high-quality investment management services and solutions to retail and institutional investors. CAM'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 Canada's largest asset management firms, with over $170 billion in assets under administration as of October 2023.
SOURCE CIBC
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