CIBC (TSX: CM) (NYSE: CM) today announced it will terminate the ETF Series of the CIBC Sustainable Investment Strategies (the “Funds”), on or about November 27, 2026 (the “Termination Date”). CIBC also announced a change to the risk rating of the CIBC Dividend Income Fund effective on or about June 18, 2026.
ETF Series Termination
The ETF Series of the Funds are expected to be de-listed from the Cboe, at CIBC’s request, at the close of business on or about November 25, 2026 (the “Delisting date”). All ETF Series units still held by investors will be subject to a mandatory redemption as of the Termination Date.
Prior to the Termination Date, CIBC will, to the extent reasonably possible, convert the assets of the ETF Series of each Fund to cash. CIBC will pay or make adequate provision for all of the ETF Series liabilities. As soon as possible following the Termination Date, CIBC will distribute the net assets of the ETF series of each Fund pro rata among unitholders of record on the Termination Date based on the ETF series net asset value per unit.
The affected funds include:
- CIBC Sustainable Canadian Core Plus Bond Fund – ETF Series (CSCP)
- CIBC Sustainable Canadian Equity Fund – ETF Series (CSCE)
- CIBC Sustainable Global Equity Fund – ETF Series (CSGE)
- CIBC Sustainable Conservative Balanced Solution – ETF Series (CSCB)
- CIBC Sustainable Balanced Solution – ETF Series (CSBA)
- CIBC Sustainable Balanced Growth Solution – ETF Series (CSBG)
Further details of the terminations will be mailed to unitholders of the ETF series of the Funds at least 60 days prior to the Termination Date. CIBC will also issue an additional press release on or about the termination date confirming the final details of each termination.
CIBC encourages all unitholders to consult with their advisors to discuss the financial and tax implications of the terminations and to determine the solution that best suits their investment needs and personal situation.
Risk Rating Change
CIBC is changing the risk rating for the CIBC Dividend Income Fund from “Low to Medium” to “Medium.” The change will be effective on or about June 18, 2026.
The new risk rating was determined in accordance with the standardized risk classification methodology mandated by the Canadian Securities Administrators. No changes have been made to the investment objectives, investment strategies, or management of the fund. CIBC reviews the risk rating for each fund at least annually and adjusts whenever the existing investment risk level is no longer appropriate.
