Toronto-based CIBC Asset Management Inc. has launched an alternative investment-based mutual fund. CIBC Multi-Asset Absolute Return Strategy uses alternative investment strategies to generate positive returns, regardless of market conditions. The fund’s target is an annualized return that’s 5% greater than Government of Canada 91-day treasury bills – before fees and expenses and over rolling three-year periods. The fund also invests in alternative asset classes and strategies, such as currencies, commodities and factor-based strategies. Advisor commissions are 0%-5% for front-end sales. Management fees are 1.9% for A-class units and 0.9% for F-class units. Minimum investment is $500.

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