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Traders on CIBC trading floor.CHARLA JONES/The Globe and Mail

Canadian Imperial Bank of Commerce has hired a portfolio manager to lead four of its resource-oriented funds.

Scott Vali will join the bank's asset management arm to assume responsibility for the Precious Metals Fund; the Canadian Resources Fund; the Energy Fund; and the Renaissance Global Resource Fund. The funds were historically offered by the bank but sub-advised by outside firms.

Prior to joining CIBC, Mr. Vali spent more than a decade at CI Investments Inc., where he was lead manager for three resource funds, including the Global Energy Fund and the Signature Gold Fund.

Mr. Vali heads to CIBC in a mixed market for resources. While energy has been hot in the past year, precious metals companies are still suffering. CIBC's Precious Metal Fund has earned a compound annual return of just 1.5 per cent since its inception in 1996.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 28/03/24 4:00pm EDT.

SymbolName% changeLast
CIX-T
CI Financial Corp
+0.06%17.32
CM-N
Canadian Imperial Bank of Commerce
+1.3%50.72
CM-T
Canadian Imperial Bank of Commerce
+1.13%68.67
M-N
Macy's Inc
+0.71%19.99

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