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
as of 06.26.18
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.
as of 06.29.17
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.
Q1 2017 edition
Bigger Things Might Come in Smaller Packages
The outlook for small-cap stocks is the most promising it has been in a decade.
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 10.02.18
Investing in China
Emerging markets have become volatile in recent months due to the conflict over global trade, especially as it becomes a showdown between the U.S. and China. Both rhetoric and action on this front have been and may continue to be highly unpredictable
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.
Ohm Srinivasan, CFA
Co-Manager, Hedge Funds
Ohm Srinivasan is an investment portfolio manager and co-heads the hedge fund research efforts within the Multi-Manager Investment Program (MMIP) based in Boston.
When selecting private equity 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 equity firms, as well as industry-leading fund of funds managers.
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.
as of 05.22.18
Private Equity: Too Much Demand?
This past year saw record levels of capital being raised by Private Equity (PE) funds. This was the result of more firms coming to market to raise funds and a seemingly universal increase in the size of each fund raised.
Q1 2018 Edition
A View From
the Inside: Biotechnology
Mike Powell, Ph.D., a general partner with venture capital biotech firm Sofinnova Ventures, discusses the state of the biotech industry.
Daniel A. Criscuolo
Daniel Criscuolo serves on the Multi-Manager Investment Team as a private equity analyst.
In constructing customized private real estate portfolios for clients, we seek managers who repeatedly exploit market inefficiencies through strategic acquisition and management of commercial properties, generating capital appreciation and income.
Our MMIP team sources attractive real estate managers by evaluating a fund's investment strategy, previous investments, operations, reasonable use of leverage and track record.
as of 11.30.17
Residential Housing Market Outlook Remains Positive
The current strength in the economy, accompanied by robust employment and job figures and other factors, is contributing to the recovery in the housing market.
Q3 2016 edition
Boom, Bust, Recovery
Housing is now in a modest, but solid, recovery, in large part due to spending on
R&R—repair and remodeling.
Lester P. Duke, CFA
Lester Duke is responsible for investment manager due diligence and selection within the Multi-Manager Investment Program's alternative investments team.
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
as of 11.14.18
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.
Q3 2018 Edition
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
as of 09.01.17
Roundtable: The Rise of Impact Investing
With impact investing, the outcomes of making money or doing good are not mutually exclusive; rather, this type of investing is based on the belief that investors can help others while still helping themselves.
Firm Expert, Impact Investing
John C. Tennaro, CIMA®
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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