Proprietary Strategies

Value Delivered Through Proprietary Investments

Beating the market is no easy thing, and we attempt to do so only where we believe we have seasoned professionals with a high-conviction investment philosophy and a performance edge. All internal strategies must meet a high bar compared to the competition within their investment categories. Because we combine that standard with the breadth of knowledge on our Multi-Manager Investment Team, we have something unique and incredibly strong.


Disciplined Equity

The Disciplined Equity Strategy is a tax-efficient, large-cap U.S. equity strategy with a focus on leading companies that generate significant free cash flow.

Four important factors drive its strong results:

  • A focus on bottom-up fundamental analysis to identify quality companies to invest in for the long term.
  • An emphasis on free cash flow.
  • Opportunistic buying and disciplined selling.
  • A right-sized team, committed to the Strategy—and to clients—averaging 17 years' industry experience.

Firm Expert


Patricia A. Bannan, CFA

Co-Manager, Disciplined Equity Strategy

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Firm Expert


Brant Houston, CFA

Co-Manager, Disciplined Equity Strategy

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Equity Income

The Equity Income strategy's primary focus is on total return, with the ability to invest in high-quality common stocks, Real Estate Investment Trusts (REITs) and Master Limited Partnerships (MLPs) that exhibit dividend growth greater than the market. The portfolio aims to provide lower volatility than the overall market.

Three important factors drive its strong results:

  • Attractive dividend growth: seeks securities growing their dividends at an above-average rate.
  • High conviction: high-conviction portfolio of companies with above-average revenue, cash flow and earnings growth.
  • Flexible: ability to invest in a range of income securities including dividend-paying common stocks, REITs and MLPs.

A Non K-1 version of the strategy is available that follows the same investment process except in order to simplify client tax reporting, the strategy does not invest in securities that generate K-1s.

Firm Expert


Robert C. Bridges

Co-Head,
Team Geneva

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Firm Expert


John P. Huber

Co-Head,
Team Geneva

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Firm Expert


Gordon Scott, CFA

Portfolio Manager, Equities

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Large Cap Growth

The Large Cap Growth strategy aims for growth with low volatility by investing in large market capitalization companies. These are high-quality companies that are generally dominant in their industries and that exhibit above-average earnings growth and strong competitive positions.

Three important factors drive its strong results:

  • Established: focuses on companies with capitalizations generally above $10 billion and above-average earnings growth.
  • Competitive advantage: invests in companies that exhibit strong competitive positions, high levels of earnings visibility, strong profitability and superior management.
  • Consistent growth: seeks stable companies with consistent, long-term growth.

Firm Expert


Robert C. Bridges

Co-Head,
Team Geneva

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Firm Expert


John P. Huber

Co-Head,
Team Geneva

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Firm Expert


Gordon C. Scott, CFA

Portfolio Manager, Equities

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Mid-Cap Growth

The Mid-Cap Growth Equity Strategy is a tax-efficient, U.S. mid-cap equity strategy that seeks long-term capital appreciation by investing in high-quality companies with excellent business models that generate consistent, strong financial returns.

Three important factors drive its strong results:

  • A stringent philosophy and process for assessing business models, determining quality and identifying consistent growth prospects that have been successfully utilized since the Strategy’s inception.
  • An adherence to strict risk controls to avoid exposing clients to undue risk in our estimation.
  • A notably experienced and stable team including co-portfolio managers with over 20 years' tenure together on the Strategy.

The Advisor

Q1 2017 Edition

Bigger Things Might Come in Smaller Packages

"We think anticipated changes to economic policy are likely to improve the outlook for small caps," says Bryan Reilly, a senior investment analyst for CIBC Private Wealth Management.

The Advisor

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.

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Firm Expert


Jay Pearlstein, CFA

Co-Manager,
Mid-Cap Growth Equity Strategy

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Firm Expert


Frederick L. Weiss, CFA

Co-Manager,
Mid-Cap Growth Equity Strategy

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All Cap Growth

The All Cap Growth strategy seeks to outperform the market by investing in quality, high-growth companies, experiencing strong and visible growth. The strategy has a high active share and the ability to invest across all market capitalizations.

Three important factors drive its strong results:

  • Quality growth: focuses on quality, high-growth companies with strong near-term and long-term growth prospects and positive business momentum.
  • High conviction: conviction-weighted portfolio with high active share
  • Flexible: ability to invest in companies across the entire market capitalization spectrum.

Firm Expert


Robert C. Bridges

Co-Head,
Team Geneva

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Firm Expert


John P. Huber

Co-Head,
Team Geneva

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Income Opportunities

The Income Opportunities Strategy is a tax-efficient, income-generating U.S. equity and fixed income strategy that seeks current income and long-term capital appreciation by investing in high-quality companies with significant free cash flow.

Three important factors drive its strong results:

  • A diversified source of income and asset class exposures to generate income with growth outpacing inflation.
  • A disciplined investment process with a focus on quality.
  • A notably experienced, committed team averaging 18 years' industry experience.
 

Webinar

as of 01.16.18

Q1 2018 Investment Outlook

Dave Donabedian, Chief Investment Officer for CIBC Private Wealth Management, Bill Norris, Chief Investment Officer for CIBC Bank USA, and Gary Pzegeo, Head of Fixed Income for CIBC Private Wealth Management, present their analysis of investment themes for 2018.

Firm Expert


Gary E. Pzegeo, CFA

Head of Fixed Income

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Firm Expert


Brant Houston, CFA

Co-Manager, Income Opportunities Strategy

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International Growth

The International Growth strategy focuses on high-quality international companies that sustain higher-than-average earnings growth over extended periods of time. The strategy employs a fundamental bottom-up stock selection process while maintaining sector and geographic awareness.

Three important factors drive its strong results:

  • Diversified growth: seeks companies that derive the majority of their revenues and growth internationally and have sustainable business models with above-average earnings growth.
  • High conviction: conviction-weighted portfolio with high active share.
  • Multi-cap: ability to invest in companies across all market capitalizations.

Blog

as of 08.21.18

Emerging Markets: Looking Through the Storm

Most headlines related to emerging markets (EM) have been decidedly negative this year. The growing U.S. trade conflict with China (by far the biggest emerging economy) helped spark a bear-market-sized decline in the Shanghai Composite Stock Market Index over the last seven months.

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Blog

as of 08.15.18

Going Deep in the Name of Due Diligence

Stabilization of the U.S. dollar, progress on trade agreements and signs of a recovery in the emerging markets all contributed to solid returns for the month.

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Firm Expert


Daniel P. Delany, CFA

Portfolio Manager, Equities

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Firm Expert


Matt Scherer, CFA

Portfolio Manager and Analyst, Equities

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Fixed Income

Blog

as of 08.28.18

What Makes Variable Rate Demand Notes Stand Out?

In general, VRDNs have three key characteristics that distinguish them from other municipal bonds: they have variable rates, they come with a put option, and they often have liquidity and credit support from a third-party financial institution.

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Blog

as of 08.14.18

Understanding Premium Bonds

As a long-term investor, you may choose to include fixed income in your investment portfolio for a variety of reasons, such as capital preservation, income generation, or a combination of both.

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Firm Expert


Gary E. Pzegeo, CFA

Head of Fixed Income

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Firm Expert


Timothy Musial, CFA

Portfolio Manager, Fixed Income

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Hedge Funds of Funds

Alternative strategy that seeks to reduce overall portfolio risk through diversified hedged strategies with low correlations to traditional asset classes.

Three important factors drive its strong results:

  • A "top-down" and "bottom-up" institutional investment process that combines dynamic portfolio construction and pragmatic risk management delivered in an institutional framework.
  • A flexible hedge funds structure that can cope with non-normal asset prices.
  • A notably experienced and stable team including co-portfolio managers with over 14 years' industry experience.

The Advisor

Q1 2017 Edition

Inflection Point

Forget what you may have learned in calculus—that an inflection point is the point where the direction of a curve changes. Instead, think of inflection point's other definition: a time of significant change in a situation; a turning point after which a dramatic change is expected to result.

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Firm Expert


Jigar Patel, CFA

Co-Manager, Hedge Funds

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Firm Expert


Ohm Srinivasan, CFA

Co-Manager, Hedge Funds

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Energy Infrastructure

CIBC Private Wealth Management's investment research team also includes a seasoned group of portfolio managers and analysts focused on energy infrastructure, including Master Limited Partnerships (MLPs).

Blog

as of 03.16.18

FERC Ruling Impacts MLPs

The MLP and broader pipeline sector was negatively impacted by actions at the Federal Energy Regulatory Commission (FERC) in March. We will learn much more in coming days and weeks; in the meantime, here is a general summary of what was announced and the implications.

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Streetwise Reports

as of 06.01.17

Simplification: A Positive Change for MLP Industry, Investors

Adam Karpf, CFA, portfolio manager for CIBC Private Wealth Management, discusses the MLP sector's current trend toward simplification in an article he bylined for Streetwise Reports.

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Firm Expert


Adam R. Karpf, CFA

Co-Manager, Energy Infrastructure Strategy

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Firm Expert


Paul M. McPheeters, CFA

Co-Manager, Energy Infrastructure Strategy

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