CIBC Passive Portfolios are offered by CIBC Securities Inc., a subsidiary of CIBC. CIBC Passive Portfolios are mutual funds that invest primarily in CIBC Index Mutual Funds. Commissions, trailing commissions, management fees, and expenses all may be associated with mutual fund investments. Please read the CIBC Mutual Funds and CIBC Family of Portfolios prospectus before investing. To get a copy, call CIBC Securities Inc. at 1-800-465-3863. You can also ask your mutual fund representative at any banking centre where CIBC Mutual Funds and CIBC Family of Portfolios are sold. CIBC Mutual Funds and CIBC Family of Portfolios 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 in a fund will be returned to you. The values of many mutual funds can change frequently. Past performance may not be repeated.