CIBC International Equity ETF

CIBC International Equity ETF (referred to as the CIBC ETF) seeks to generate long-term capital growth through capital appreciation by investing primarily in a diversified portfolio of equity securities of foreign companies located in Europe, the Far East, and the Pacific Rim. Exposure to these types of securities will be obtained by investing primarily in Renaissance International Equity Fund (or its successor fund), and/or by investing directly in the securities. The CIBC ETF invests all or substantially all of its assets in units of the Renaissance International Equity Fund (or its successor fund) (referred to as the Underlying Fund). The Underlying Fund is managed by the Manager, and sub-advised by Walter Scott & Partners Limited.