CIBC Asset Management has launched six actively managed sustainable mutual funds.
The funds are designed to offer a smaller carbon footprint and lower energy sector exposure than broad market indexes, according to a release.
The new products use CIBC’s proprietary environmental, social and governance analysis alongside data from Sustainalytics. Positive sector screening is used to select companies in the renewable energy space as well as green bonds.
The new funds are:
- CIBC Sustainable Canadian Core Plus Bond Fund
- CIBC Sustainable Canadian Equity Fund
- CIBC Sustainable Global Equity Fund
- CIBC Sustainable Conservative Balanced Solution
- CIBC Sustainable Balanced Solution
- CIBC Sustainable Balanced Growth Solution
Management fees range from 0.9%–1.75% for Series A and 0.4%–0.75% for Series F. ETF series of all six funds will be available “in the coming weeks,” according to the release.
After the payment of trailer commissions, as applicable, CIBC plans to donate 5% of the management fees earned by the funds annually to organizations supporting climate transition activities. CIBC may be entitled to a donation receipt when donating funds to a charity.