CIBC Managed Monthly Income Balanced Portfolio

Investment Objective:

The Portfolio will attempt to create a diversified portfolio by allocating its investments across a balanced blend of asset classes. Within the asset classes, the Portfolio will invest primarily in Mutual Funds, including savings, income and growth funds.

The Portfolio will attempt to provide a high level of regular monthly income and long-term capital growth.

Investment Strategies:

The principal strategy is to use a strategic asset allocation that will:

• invest up to 100% of the Portfolio's assets in units of the Underlying Funds
• allocate the Portfolio's assets among the Underlying Funds according to the strategic weightings for the Portfolio, which may change at our discretion, but are generally expected to be:
  • income 45%
  • growth 55%
• monitor and rebalance the Portfolio's assets to realign the weightings within its strategic asset mix
• monitor and review the Underlying Funds on a periodic basis.

Aside from cash and cash equivalents, the Portfolio holds units of its Underlying Funds, which may be managed by CIBC or its affiliates.

Rate Information

The Portfolio May Be Suitable for:

• investors looking for portfolio diversification within a single mutual fund
• those seeking a mix of high current monthly income and long-term capital growth
• those investing for the medium to long term

What Are the Risks of Investing in the Fund?

The Portfolio is based on a strategic asset allocation. In implementing this strategy, the Portfolio will invest in a number of Underlying Funds in order to obtain the desired asset allocation. The performance of the Portfolio will be related to the performance of the Underlying Funds held by the Portfolio.

The risks associated with the Portfolio will reflect the risks of the Underlying Funds in which the Portfolio invests. The amount of risk the Portfolio takes on from each of the Underlying Funds is directly proportional to the amount invested in each of the Underlying Funds.

The Portfolio may be exposed to capital depreciation risk, concentration risk, currency risk, derivative risk, emerging markets risks, equity risk, fixed income risks, foreign market risk, general market risk, income trusts and limited partnerships risk, index risk, legal and regulatory risk, liquidity risk, passive management risk, risk of specializing, securities lending, repurchase, and reverse repurchase agreements risk, significant holdings risk, smaller companies risk, and sovereign debt risk.

The Portfolio's ability to meet its investment objective will be dependent on the ability of the Underlying Funds to achieve their respective investment objectives.

Refer to the CIBC Mutual Funds and CIBC Family of Managed Portfolios Simplified Prospectus for more details.

Distribution Policy:

The Portfolio intends to distribute net income monthly. At the end of each month, the Portfolio will distribute an amount equal to approximately one-twelfth of 6% on Class T6 units and approximately one-twelfth of 8% on Class T8 units of the net asset value per unit on the last day of the previous calendar year (or, if no units were outstanding at the end of the previous calendar year, the date on which the units are first available for purchase in the current calendar year). The monthly distribution will generally consist of net income and/or return of capital. The Portfolio may make an additional distribution in December, but only to the extent required to ensure that the Portfolio will not pay income tax. The annual and monthly distribution rates may be adjusted from time to time at our discretion.

If the monthly amount distributed exceeds the Portfolio's net income and net realized capital gains, such excess will constitute a return of capital. For Class T6 and Class T8 units, it is likely that a greater proportion of the amount distributed will constitute a return of capital, when compared to Class A units. Generally, the Portfolio expects that the total amount of any returns of capital made by the Portfolio in any year should not exceed the amount of the net unrealized appreciation in the Portfolio's assets for the year. A distribution to you by the Portfolio that is a return of capital will not generally be included in your income. Such a distribution, however, will generally reduce the adjusted cost base of your units of the Portfolio, and may, therefore, result in you realizing a taxable capital gain on a future disposition of the units. Further, to the extent that the adjusted cost base of your units of the Portfolio would otherwise be a negative amount as a result of you receiving a distribution on units that is a return of capital, the negative amount will be deemed to be a capital gain realized by you from a disposition of the units and your adjusted cost base of the units would be increased by the amount of such deemed gain. See Income Tax Considerations for Investors. Depending on market conditions, a significant portion of the Portfolio's distribution may be a return of capital for a certain period of time. The amount of the distributions is not guaranteed and may change from time to time without notice to unitholders.

* Volatility (1-6): The lower the volatility ranking, the lower the risk of the portfolio. Portfolios with a volatility ranking of 6 are the most risky.

** Other dealers may have different minimum dollar requirements.

View CIBC Mutual Funds Financial Reports and Prospectuses

Disclaimers:
Important information about CIBC Securities Inc. and mutual funds

CIBC Mutual Funds and CIBC Family of Managed Portfolios are offered by CIBC Securities Inc., a wholly-owned subsidiary of CIBC. CIBC Family of Managed Portfolios consists of CIBC Managed Portfolios and CIBC U.S. Dollar Managed Portfolios, which are mutual funds that primarily invest in other CIBC Mutual Funds. CIBC Managed Portfolio Services is a service that helps you select an appropriate professionally built CIBC Managed Portfolio or CIBC U.S. Dollar Managed Portfolio. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. To obtain a copy, call CIBC Securities Inc. at 1 800 465-3863 or ask your mutual fund representative at any branch where CIBC Mutual Funds are sold. Mutual funds are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer nor are they guaranteed by CIBC. There can be no assurance that 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 to you. The values of many mutual funds, such as Income and Growth Funds, can change frequently. Past performance may not be repeated.