CIBC Asset Management hired American Century Investment Management, Amundi Canada, and Pzena Investment Management as subadvisers to five mutual funds.
American Century will subadvise the global growth portion of the CIBC Monthly Income Fund and Renaissance Canadian Monthly Income Fund, spokeswoman Caroline Van Hasselt said.
CIBC Asset Management is the funds' sole manager and will run the remainder of the funds. Parent CIBC owns a 41% stake in American Century.
Amundi Canada will subadvise the Renaissance China Plus Fund and the Renaissance Asian Fund, replacing Hamon Investment Group, and Pzena will subadvise the Renaissance Global Value Fund, replacing del Rey Global Investors.
Ms. Van Hasselt would not say why Hamon and del Rey were terminated.
CIBC Asset Management had C$95 billion (US$86.8 billion) in assets under management as of March 31. Renaissance Investments is a subsidiary of CIBC.
