Toronto-based CIBC Asset Management Inc. (CIBC AM) has launched an alternative investment fund, the investment manager announced Monday.
The CIBC Multi-Asset Absolute Return Strategy aims to provide capital growth while managing volatility by investing in “alternative asset classes and strategies such as currencies, commodities and factor-based strategies, in addition to traditional global asset classes,” CIBC AM says in a news release.
“Investors are always looking for exposure to the potential upside of investing without taking on excessive risk,” David Scandiffio, president and CEO of CIBC AM, says in a statement. “With its broad diversification, lower volatility and the potential for positive returns, the CIBC Multi-Asset Absolute Return Strategy can play an important role in the portfolio of many investors.”
The fund will target, over rolling three-year periods, an annualized return 5% greater than Government of Canada 91-day treasury bills (before fees and expenses), CIBC AM says.
It can be held in registered and non-registered accounts with an initial minimum investment of $500.