We established our Multi-Manager Investment Program (MMIP) in 1992 (through legacy firms) to complement our internal expertise. Since then, the MMIP team has researched thousands of managers, performing in-depth, qualitative and quantitative due diligence. In a typical year, there are approximately 150 external managers on our platform, covering almost every asset class and strategy: public equity, fixed income and liquid alternatives, hedge funds, private equity, venture capital, private real estate and commodities.
As part of our objective manager selection process, every manager added to our platform must:
Our mission to identify best-in-class managers that can add long-term value to our clients’ portfolios is achieved only through a rigorous and fair assessment of these managers. Our firm does not accept compensation from external managers as part of our approval process. For some hedge funds of funds, CIBC Private Wealth Management receives a placement fee, which may be higher or lower than a client’s account-level fee, and waives the account-level fee on the monies invested in that fund. This arrangement eliminates a third layer of fees on these funds of funds.
When selecting traditional strategies, we utilize quantitative and qualitative research to identify managers with strong and consistent risk-adjusted performance, a strict investment philosophy and repeatable process.
Covered Asset Classes
Is Active Management Still Relevant?
In 1951, a student at Princeton was the first to write, as his senior thesis, about the idea of passive index investing. Twenty-five years later, that former student started the first index mutual fund.
Investors Beware... Of Investors
Scott Burg weighs in on the active vs. passive management debate and examines whether individual investors are successful in moving in and out of particular investment strategies at the right time.
Scott M. Burg, CFA, CAIA
Senior Investment Analyst
Scott Burg is responsible for investment manager due diligence and selection within the Multi-Manager Investment Program's traditional investments team.
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In hedge fund investments, returns have been driven by strategy and manager selection. Our goal is to construct customized hedge fund portfolios for clients using high-quality managers across a variety of strategies that are likely to provide premium returns, net of fees, within acceptable risk parameters.
Our Actively Managed Categories
Our MMIP team has approved 39 individual hedge funds and 7 funds of funds, containing approximately 200 underlying hedge funds, and actively monitors approximately 150 additional funds across the following classifications:
as of 03.21.18
Hedge Funds: Falling Fees
Recent years of underperformance and a growing number of cheaper alternatives have collectively played a role in challenging hedge funds to develop reasonable fees.
as of 03.30.17
What is Artificial Intelligence
and Why Should Investors Care?
Artificial intelligence is one of the most exciting and transformative opportunities on the horizon.
Co-Manager, Hedge Funds
Daniel A. Criscuolo
Jigar Patel, CFA
When selecting private market investments for customized client portfolios, we seek managers who can provide tax-efficient, premium returns to the public equity market. To provide broad diversification and entry, we actively invest with individual venture capital, leveraged buyout, energy and other private market firms, as well as industry-leading fund of funds managers.
Understanding your Private Equity Returns
When comparing performance to that of a stock portfolio, the numbers of a private equity portfolio are not as straightforward. Investors may wonder if private equity actually adds value to portfolios.
A View From the Inside: Disruptive Companies Are Everywhere. Or Maybe Not.
We recently talked with David Goel, managing general partner and co-founder of Matrix Capital Management, a hedge fund that invests in public companies in the technology, media, telecommunications and consumer staples sectors, on disruption and innovation—and what that really means.
Lester P. Duke, CFA
An approach to investing called RSI—“responsible, sustainable and impact investing”—seeks to create both financial return as well as positive social or environmental impacts that are actively measured. It’s a way for families to connect philanthropic vision with investing strategy.
We offer access to diverse investment opportunities within renewables and clean technologies including solar, wind, smart grid, biofuel, geothermal, electric vehicles and fuel cell exposure.
CIBC Atlas Clean Energy Index
Contact the Clean Energy Team
ESG Is More Than Just 3 Letters
The notion that environmental, social and governance (“ESG”) factors could have a meaningful, financial impact was often discarded and cast to the shadows. However, more investors than ever are sidestepping out-of-date stereotypes and myths about sustainable and responsible investing, and are now ready to act.
Renewable Energy Growth Opportunity
Modern electricity generation is increasingly shifting toward renewable sources such as solar and wind power, which raises questions from investors on what this means for natural gas demand.
A Sunny and Windy Forecast: Clean Energy Moves Into the Mainstream
There's no question that energy is what makes the world go 'round. Nor that traditional resources—primarily fossil fuels—are ultimately finite.
In the News
Barron's: Will Values-Based Investing Ever Take Off?
John Tennaro discusses the ESG space in this Barron's article.
Firm Expert, Impact Investing
John C. Tennaro, CIMA®
Head of ESG and Impact Investing Solutions
Firm Expert, Clean Energy
Lance Marr, CFA
Investments & Wealth Institute™ (The Institute) is the owner of the certification marks “CIMA,” and “Certified Investment Management Analyst.” Use of CIMA, and/or Certified Management Analyst signifies that the user has successfully completed the Institute’s initial and ongoing credentialing requirements for investment professionals.
We talked with two managing partners of private equity firms about the latest healthcare themes and what they mean for private equity investors.
Questions About Our Platform
William Norris, Chief Investment Officer, CIBC
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The Multi-Manager Investment Program (MMIP) provides clients with access to institutional-quality investment managers with strong, risk-adjusted returns in a full range of asset classes.
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