Cibc Mutual Funds Cibc Family of Managed Portfolios
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CIBC Mutual Funds CIBC Mutual Funds and CIBC Family of Managed Portfolios are offered by CIBC Securities Inc., a subsidiary of CIBC. The CIBC Family of Managed CIBC Mutual Funds CIBC Family of Portfolios consists of CIBC Managed Portfolios and CIBC U.S. Dollar Managed Managed Portfolios Portfolios. The CIBC Family of Managed Portfolios are mutual funds that invest CIBC Family of Managed Portfolios Head Office in CIBC Mutual Funds. CIBC Managed Portfolio Services is a service offered by CIBC CIBC Securities Inc. that helps you select an appropriate professionally built Toronto, Ontario CIBC Managed Portfolio or CIBC U.S. Dollar Managed Portfolio. Commissions, trailing commissions, management fees and expenses all may be associated Mailing Address with mutual fund investments. Please read the prospectus before investing. CIBC To obtain a copy, call CIBC Securities Inc. at 1 800 465-3863 or ask your mutual 5650 Yonge Street, 22nd Floor Annual Report 2004 Toronto, Ontario fund representative at any branch where CIBC Mutual Funds are sold. CIBC M2M 4G3 Mutual Funds and CIBC Family of Managed Portfolios are not covered by the Canada Deposit Insurance Corporation or by any other government deposit Website insurer nor are they guaranteed by CIBC. There can be no assurance that www.cibc.com/mutualfunds Money Market Funds will be able to maintain their net asset value per unit at a constant amount or that the full amount of your investment will be returned CIBC Securities Inc. to you. The values of many mutual funds, such as Income and Growth Funds, 1 800 465-3863 can change frequently. Past performance may not be repeated. Nasdaq® is a trademark of The Nasdaq Stock Market Inc. (which, with its affiliates, are the “Corporations”), and is licensed for use by CIBC Securities Inc. The CIBC Nasdaq Index RRSP Fund and the CIBC Nasdaq Index Fund (the “Funds”) have not been passed on by the Corporations as to their legality or suitability. The Funds are not issued, endorsed, sold or promoted by the Corporations. The Corporations make no warranties and bear no liability with respect to the Funds. “TSX” is a trademark of the Toronto Stock Exchange. “S&P” is a trademark of the McGraw-Hill Companies Inc. These marks have been licensed for use by CIBC. CIBC Mutual Funds are not sponsored, endorsed, sold or promoted by the TSX or Standard & Poor’s and neither party makes any representation, warranty, or condition regarding the advisability of investing in them. The CIBC logo and “For what matters.” are trademarks of CIBC. 109A292E 03/05 Inside This Report STATEMENTS OF INVESTMENT PORTFOLIO — STATEMENTS OF INVESTMENT PORTFOLIO — CIBC MUTUAL FUNDS CIBC FAMILY OF MANAGED PORTFOLIOS CIBC Savings Funds CIBC Managed Portfolios CIBC Canadian T-Bill Fund 2 CIBC Managed Income Portfolio 91 CIBC Premium Canadian T-Bill Fund 2 CIBC Managed Income Plus Portfolio 91 CIBC Money Market Fund 3 CIBC Managed Balanced Portfolio 92 CIBC U.S. Dollar Money Market Fund 4 CIBC Managed Balanced Growth Portfolio 92 CIBC High Yield Cash Fund 4 CIBC Managed Balanced Growth RRSP Portfolio 93 CIBC Managed Growth Portfolio 93 CIBC Income Funds CIBC Managed Growth RRSP Portfolio 94 CIBC Mortgage and Short-Term Income Fund 5 CIBC Managed Aggressive Growth Portfolio 94 CIBC Canadian Bond Fund 6 CIBC Managed Aggressive Growth RRSP Portfolio 95 CIBC Monthly Income Fund 7 CIBC Global Bond Fund 9 CIBC U.S. Dollar Managed Portfolios CIBC U.S. Dollar Managed Income Portfolio 95 CIBC Growth Funds CIBC U.S. Dollar Managed Balanced Portfolio 96 CIBC Balanced Fund 12 CIBC U.S. Dollar Managed Growth Portfolio 97 CIBC Dividend Fund 17 CIBC Core Canadian Equity Fund 18 FINANCIAL STATEMENTS Canadian Imperial Equity Fund 19 CIBC Mutual Funds 99 CIBC Capital Appreciation Fund 20 CIBC Family of Managed Portfolios 116 CIBC Canadian Small Companies Fund 21 CIBC Canadian Emerging Companies Fund 22 NOTES TO FINANCIAL STATEMENTS 121 CIBC U.S. Small Companies Fund 23 CIBC Global Equity Fund 25 AUDITORS’ REPORTS 130 CIBC European Equity Fund 29 CIBC Japanese Equity Fund 32 FINANCIAL HIGHLIGHTS CIBC Emerging Economies Fund 33 CIBC Mutual Funds 131 CIBC Far East Prosperity Fund 35 CIBC Family of Managed Portfolios 139 CIBC Latin American Fund 37 CIBC International Small Companies Fund 38 ADDITIONAL DISCLOSURE 141 CIBC Financial Companies Fund 39 CIBC Canadian Resources Fund 40 PLEASE ADVISE US 143 CIBC Energy Fund 41 CIBC Canadian Real Estate Fund 42 CIBC Precious Metals Fund 42 CIBC North American Demographics Fund 43 CIBC Global Technology Fund 44 CIBC Index Funds CIBC Canadian Short-Term Bond Index Fund 45 CIBC Canadian Bond Index Fund 48 CIBC Global Bond Index Fund 51 CIBC Canadian Index Fund 52 CIBC U.S. Equity Index Fund 54 CIBC U.S. Index RRSP Fund 68 CIBC International Index Fund 69 CIBC International Index RRSP Fund 76 CIBC European Index Fund 78 CIBC European Index RRSP Fund 82 CIBC Japanese Index RRSP Fund 83 CIBC Emerging Markets Index Fund 84 CIBC Asia Pacific Index Fund 86 CIBC Nasdaq Index Fund 89 CIBC Nasdaq Index RRSP Fund 90 1 CIBC Canadian T-Bill Fund Statement of Investment Portfolio As at December 31, 2004 Par Value Average Cost Current Value ($) Holdings ($) ($) Short-Term Investments 21,000,000 Government of Canada Treasury Bill, 2.555%, 2005/01/27 20,845,457 20,952,713 50,000,000 Government of Canada Treasury Bill, 2.460%, 2005/02/10 49,540,200 49,866,439 25,000,000 Government of Canada Treasury Bill, 2.699%, 2005/02/24 24,816,500 24,900,911 42,500,000 Government of Canada Treasury Bill, 2.584%, 2005/03/10 42,022,650 42,297,691 12,000,000 Government of Canada Treasury Bill, 2.090%, 2005/03/24 11,760,240 11,944,774 30,000,000 Government of Canada Treasury Bill, 2.462%, 2005/04/07 29,805,000 29,807,010 20,000,000 Government of Canada Treasury Bill, 2.620%, 2005/04/21 19,798,200 19,843,676 25,000,000 Government of Canada Treasury Bill, 2.519%, 2005/05/19 24,725,250 24,764,500 40,000,000 Government of Canada Treasury Bill, 2.611%, 2005/06/02 39,486,000 39,570,725 25,000,000 Government of Canada Treasury Bill, 2.560%, 2005/08/11 24,589,500 24,617,097 4,500,000 Alcan Aluminum Discount Note, 2.662%, 2005/01/24 4,469,040 4,492,504 9,000,000 Alcan Aluminum Discount Note, 2.667%, 2005/01/28 8,967,240 8,982,310 10,000,000 King Street Funding Trust Discount Note, 2.660%, 2005/02/02 9,933,400 9,976,835 8,000,000 Plaza Trust Discount Note, 2.612%, 2005/01/25 7,948,240 7,986,281 12,000,000 Prime Trust Senior Discount Note, 2.708%, 2005/02/09 11,918,640 11,965,332 10,000,000 Prime Trust Senior Discount Note, 2.740%, 2005/02/16 9,931,400 9,965,700 8,000,000 Stars Trust Series ’A’ Discount Note, 2.668%, 2005/02/02 7,946,560 7,981,412 8,000,000 Zeus Receivables Trust Senior Discount Note, 2.612%, 2005/01/26 7,947,680 7,985,783 65,000,000 Canadian Imperial Bank of Commerce Term Deposit, 2.550%, 2005/01/05 65,000,000 65,004,541 14,925,000 Royal Bank of Canada Term Deposit, 2.500%, 2005/01/04 14,925,000 14,926,022 7,000,000 Toronto-Dominion Bank Bearer Deposit Note, 2.221%, 2005/01/06 6,922,510 6,997,894 14,000,000 Toronto-Dominion Bank Bearer Deposit Note, 2.379%, 2005/01/31 13,832,280 13,972,948 Total of Short-Term Investments (99.02%) 457,130,987 458,803,098 Total of Investments (99.02%) 457,130,987 458,803,098 Other Assets, less liabilities (0.98%) 4,554,267 Total of Net Assets (100.00%) 463,357,365 The accompanying notes are an integral part of these financial statements. CIBC Premium Canadian T-Bill Fund Statement of Investment Portfolio As at December 31, 2004 Par Value Average Cost Current Value ($) Holdings ($) ($) Short-Term Investments 67,900,000 Government of Canada Treasury Bill, 2.328%, 2005/01/13 67,252,936 67,562,705 200,000,000 Government of Canada Treasury Bill, 2.561%, 2005/01/27 198,594,444 199,519,450 269,825,000 Government of Canada Treasury Bill, 2.452%, 2005/02/10 267,312,809 269,106,645 285,000,000 Government of Canada Treasury Bill, 2.697%, 2005/02/24 282,950,850 283,870,876 215,000,000 Government of Canada Treasury Bill, 2.639%, 2005/03/10 213,093,700 213,952,340 150,000,000 Government of Canada Treasury Bill, 2.462%, 2005/04/07 149,025,000 149,035,052 250,000,000 Government of Canada Treasury Bill, 2.510%, 2005/06/02 247,145,000 247,416,905 15,125,000 Alcan Inc. Discount Note, 2.667%, 2005/01/28 15,069,945 15,095,270 13,500,000 Canadian Master Trust Series ’A’ Discount Note, 2.560%, 2005/01/05 13,473,540 13,496,220 2,600,000 Care Trust Series ’A’ Discount Note, 2.551%, 2005/01/05 2,583,750 2,599,278 29,450,000 Care Trust Series ’A’ Discount Note, 2.561%, 2005/01/17 29,384,032 29,417,016 11,000,000 Care Trust Series ’A’ Discount Note, 2.560%, 2005/01/19 10,976,900 10,986,140 21,000,000 Care Trust Series ’A’ Discount Note, 2.669%, 2005/02/01 20,861,190 20,952,713 20,000,000 Darwin Receivables Trust Discount Note, 2.521%, 2005/01/07 19,862,800 19,991,768 25,000,000 Darwin Receivables Trust Discount Note, 2.579%, 2005/03/23 24,842,000 24,857,800 17,000,000 Diversified Trust Discount Note, 2.582%, 2005/01/07 16,956,820 16,992,803 19,000,000 Plaza Trust Discount Note, 2.551%, 2005/01/25 18,953,640 18,968,210 15,000,000 Prime Trust Senior Discount Note, 2.521%, 2005/01/07 14,897,100 14,993,826 10,000,000 Prime Trust Senior Discount Note, 2.549%, 2005/01/20 9,978,400 9,986,761 26,000,000 Prime Trust Senior Discount Note, 2.740%, 2005/02/22 25,821,640 25,899,188 39,475,000 Pure Trust Discount Note, 2.561%, 2005/01/26 39,381,050 39,405,919 10,800,000 Ridge Trust Series ’A’ Discount Note, 2.560%, 2005/01/12 10,778,076 10,791,684 11,000,000 Ridge Trust Series ’A’ Discount Note, 2.561%,