CIBC and CIBC Asset Management Inc. today announced changes to the portfolio sub-advisors of three mutual funds. The changes are effective November 18.

Front Street Investment Management Inc. will be appointed sub-advisor of Talvest Global Resource Fund and CIBC Canadian Resources Fund, replacing KBSH Capital Management Inc.

CIBC says Front Street was selected for its wealth of expertise with regard to natural resource portfolio management, as well as their diligent team-based investment approach. Norm Lamarche and Craig Porter have a combined 30 years experience managing this asset class. The investment strategies contained in both the CIBC and Talvest prospectuses have been modified to reflect Front Street’s investment process. Talvest Global Resource Fund will have a more prominent foreign equity component.

The resource industries that Front Street will focus on include oil and gas, paper and forest, and precious metals and minerals. Front Street analyzes each industry’s fundamentals to assess where the opportunity lies. Front Street invests in companies of various capitalization, and may also invest in income trusts.

Founded in 1996, Toronto-based Front Street is currently the sub-advisor of CIBC Energy Fund and CIBC Precious Metals Fund.

Also effective November 18, Fidelity Investments Canada Ltd. and Pictet International Management Ltd. will be appointed sub-advisors to Imperial Overseas Equity Pool, replacing GE Asset Management Inc.

Fidelity will manage a portion of the pool, while Pictet will manage the international small-cap equity portion of the pool.

Pictet is a part of Pictet Asset Management, the institutional business division of Pictet & Cie, a Swiss private bank that was founded in 1805 and that has US$114 billion in assets under management and administration for institutional and private clients as of June 30, 2005.