Responding to investors demand for yield, Renaissance Corporate Bond Capital Yield Fund is now available for purchase, Renaissance Investments said Wednesday.

The fund offers investors exposure to higher yielding corporate bonds, with tax-efficient monthly distributions.

“Now more than ever, investors are looking for higher yielding fixed income solutions which are also tax-efficient,” says Steve Geist, president of CIBC Asset Management. “We believe the Renaissance Corporate Bond Capital Yield Fund will deliver on both fronts.”

The fund seeks to generate tax-efficient returns, primarily through exposure to its reference fund, Renaissance Corporate Bond Fund. The reference fund’s corporate bond mandate is managed by CIBC Global Asset Management Inc., one of the largest fixed-income investment managers in Canada. CIBC Global Asset Management’s process includes both top-down and bottom-up analysis of a combination of fundamental and technical factors. The portfolio will be diversified across industry group and credit rating.

Renaissance Investments is offered by CIBC Asset Management Inc., which manages more than $50 billion in assets.