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* Evolve launches U.S. high interest fund. Evolve Funds Group Inc. on Aug. 31 debuted its US High Interest Savings Account Fund (TSX: HISU.U) U.S. dollar savings product that offers daily liquidity and a competitive interest rate expected to be competitive to other U.S. dollar high interest savings funds. The fund seeks to maximize monthly income while preserving capital and liquidity by investing primarily in high interest U.S. dollar deposit accounts.
* TD debuts carbon credit ETF. TD Asset Management Inc. on Aug. 30 launched its TD Global Carbon Credit Index ETF (TSX: TCBN), which aims to provide investors with global exposure to the growing carbon credit market. The fund tracks the Solactive Global Carbon Credit CAD Hedged Index, which measures the investment return of global cap-and-trade carbon emission credits.
* Penderfund reboots two funds as alternative funds. PenderFund Capital Management Ltd. announced on Aug. 30 that it will convert the Pender Value Fund II and the Pender Special Situations Fund from conventional mutual funds to alternative mutual funds as of Sept. 1.
The funds’ names will also be changed, as will the investment strategies.
* Horizons launches high-dividend utilities ETF. Horizons ETFs Management (Canada) Inc. on Aug. 10 announced the debut of the Horizons Canadian Utility Services High Dividend Index ETF (TSX: UTIL).
The fund aims to provide investors with Canadian exposure to the utilities, pipelines, and telecommunications sectors. The fund tracks the Solactive Canadian Utility Services High Dividend Index of TSX-listed high-dividend-paying utility services companies.
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