CIBC Asset Management Launches New Global Currency Pool

Jun 27 2017 | 8:32pm ET

CIBC Asset Management has launched a new global alternative currency vehicle aimed at generating uncorrelated sources of alpha in a liquid, absolute-return format. 

The CIBC Active Global Currency Pool is for institutional investors and is a pooled version of a strategy in place since 1996, the company said. CIBC Asset Management's currency team consists of nine dedicated investment professionals with an average of 20 years of experience. The group managed around $30 billion in assets as of March 31, 2017. 

"We are excited to launch the CIBC Active Global Currency Pool, which leverages our track record managing active currency strategies for institutional investors," said Doug MacDonald, head of institutional asset management for CIBC Asset Management, in a statement. "Capitalizing on our unique approach to currency management, the pool is designed to diversify a plan's risk profile and deliver liquidity to an alternatives portfolio that is typically dominated by illiquid holdings.”

"Starting with robust quantitative models, we then integrate our seasoned judgment backed by qualitative, fundamental research to deliver consistent alpha over time,”

added Luc de la Durantaye, head of asset allocation and currency management for CIBC Asset Management. “Our team of dedicated regional research analysts adds to the depth and breadth of the currency universe we cover, which currently includes 32 currencies in both developed and emerging markets."

CIBC Asset Management is the asset management subsidiary of Canadian financial services giant CIBC, provides investment management services and solutions to retail and institutional investors including mutual funds, managed portfolios, discretionary investment management services and portfolio management. The firm managed more than $126 billion in assets as of March 31, 2017.

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