CIBC LAUNCHES FOUR NEW MUTUAL FUNDS
By Adnews Staff
CIBC Securities Inc. has added four new no-load mutual funds to its portfolio, bringing their total to 25. The CIBC Canadian Index Fund will mirror the performance of the TSE 300 Index, while the CIBC U.S. Index Fund will simulate the performance of the S&P 500 Index. Both have management fees of 1%. The CIBC Precious Metals Fund invests mainly in equities of Canadian issuers engaged in the mining of precious metals such as gold, silver and platinum. The CIBC Energy Fund invests primarily in equities of Canadian companies involved in the production, development, exploration and distribution of gas, oil and other energy-related products and services. CIBC vice president of marketing Ted Kadsby told Adnews yesterday that advertising for the funds will be launched in the fall when CIBC introduces other new funds. Advertising for CIBC is handled by Padulo Integrated Inc. of Toronto.