CIBC Asset Management Announces Final Valuation for Termination of CIBC Multifactor Canadian Equity ETF and CIBC Multifactor U.S. Equity ETF
TORONTO, July 29, 2022 /CNW/ – CIBC (TSX: CM) (NYSE: CM) – CIBC Asset Management Inc. (CAMI), as manager of CIBC Exchange Traded Funds, today announced the final net asset value (NAV) and net proceeds of CIBC Multifactor Canadian Equity ETF (TSX: CMCE) and Multifactor Equity ETF CIBC U.S. (TSX: CMUE) (Ordinary Units) and (TSX: CMUE.F) (Hedged Units). Collectively, the “CIBC Strategic Beta ETFs”.
As announced on May 16, 2022the CIBC Strategic Beta ETFs were delisted from the Toronto Stock Exchange at the request of CAMI at the close of business on July 26, 2022and will be terminated at the close of business today, July 29, 2022.
Effective immediately, the net proceeds of each of the CIBC Strategic Beta ETFs will be distributed to unitholders of the CIBC Strategic Beta ETFs on a pro rata basis, as set out in the table below.
The final net asset value per unit is made up of the following components:
|
CIBC ETFs |
Stock symbols |
Revenue per unit ($) |
Capital per unit ($) |
Final NAV per unit ($) |
|
CIBC Multifactor Canadian Equity ETF |
CMCE |
$0.0000 |
$22.0187 |
$22.0187 |
|
CIBC Multifactor U.S. Equity ETF (Common Units) |
EUMC |
$0.0000 |
$25.4201 |
$25.4201 |
|
CIBC Multifactor U.S. Equity ETF (Hedged Units) |
CMUE.F |
$0.0000 |
$25.2747 |
$25.2747 |
About CIBC
CIBC is a leading North American financial institution with 13 million retail, business, public sector and institutional banking customers. In Personal and Business Banking, Business Banking, and Wealth Management and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network and its locations around the world. Canadawith offices at United States and around the world. Current press releases and more information about CIBC are available at www.cibc.com/en/about-cibc/media-centre.html
About CIBC Asset Management
CIBC Asset Management Inc. (CAM), the asset management subsidiary of CIBC, offers a range of high-quality investment management services and solutions to retail and institutional investors. CAM’s offering includes: a comprehensive mutual fund platform, strategically managed portfolio solutions, discretionary investment management services for high net worth individuals and institutional portfolio management. GAC is one of the largest asset management companies in Canada, with over $150 billion in assets under administration as of June 2022.
SOURCECIBC
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