Toronto-based CIBC Asset Management Inc. announced the launch of the CIBC Flexible Yield ETF on Monday.
The actively managed fund provides exposure to high-yielding debt and investment-grade fixed-income securities from issuers around the world.It invests primarily in hedge-class units of the Renaissance Flexible Yield Fund, which is subadvised by Doubleline Capital LP.
The ETF began trading on the Toronto Stock Exchange on Monday.