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Auspice Capital Advisors on March 2 debuted two alternative funds for retail investors. Previously available only to institutional and accredited investors on an exempt basis, the funds will maintain their existing track records, including the 16+ year track record of the firm’s longest standing and flagship fund, Auspice Diversified Trust.
Auspice Diversified Trust provides exposure to commodity and financial futures in addition to providing returns that are non-correlated to traditional equity, fixed income, and most alternative strategies. A core goal of the fund is to provide investors with performance and “crisis alpha” in times of significant equity correction. Recently, the commodity focus and potential inflation protection has also been a key consideration.
Auspice One Fund Trust seeks to achieve superior absolute and risk-adjusted returns for investors as compared with balanced fund approaches, or a long-only equity fund, with the added benefits of protection and performance during sustained downward trends while earning a yield. The Auspice One Fund benefits from a rules-based active management core. It combines the long-term track record of Auspice with tactical active and passive income-oriented global growth equity and fixed income ETFs.
1832 Asset Management on March 1 announced proposed mergers of certain of its Dynamic funds on or about June 16, 2023, subject to approvals. All costs and expenses associated with each of the mergers will be borne by the manager.
CIBC Asset Management on Feb. 27 debuted its CIBC International Equity Index ETF (CAD-Hedged) (TSX: CIEH), which aims to replicate the performance of a broad international equity market index by Morningstar Research Inc. The fund holds broad exposure to international equities, hedged to the Canadian dollar.
The Investment Funds Institute of Canada on Feb. 23 announced investment fund net sales and net assets for January 2023.
Mutual fund assets totalled $1.886 trillion at the end of January 2023. Assets increased by $77.0 billion, or 4.3%, compared with December 2022. Mutual funds recorded net redemptions of $477 million in January 2023.
ETF assets totalled $328.9 billion at the end of January 2023. Assets increased by $15.2 billion, or 4.8%, compared with December 2022. ETFs recorded net redemptions of $491 million in January 2023.
Invesco Canada Ltd. on Feb. 23 launched three new exchange-traded funds with the aim of providing exposure to equities with a history of consistent dividend growth, further screened with an environmental, social and governance (ESG) overlay. The new index ETFs will track several S&P Dividend Aristocrat Indexes and include ESG-oversight from NEI Investments.
Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF (TSX: ICAE) tracks the S&P/TSX Canadian ESG Dividend Aristocrats FMC Weighted Index, investing primarily in TSX-listed equities that have increased ordinary cash dividends in four of the past five years and not decreased ordinary cash dividends in any year, as well as meeting specific ESG criteria.
Invesco S&P US Dividend Aristocrats ESG Index ETF (CAD Units) (TSX: IUAE) tracks the S&P ESG High Yield Dividend Aristocrats FMC Weighted Index, holding U.S.-listed equities that have increased total dividends per share every year for at least 20 consecutive years, while meeting certain ESG criteria. Also available in Canadian dollar hedged version.
Invesco S&P International Developed Dividend Aristocrats ESG Index ETF (CAD Units) (TSX: IIAE) tracks the S&P International Developed Ex-North America & Korea ESG Dividend Aristocrats FMC Weighted Index. The fund invests in securities of the highest dividend yielding companies in developed markets across Europe, the Middle East, Africa, and Asia Pacific that meet specific ESG-criteria, with a policy of increasing or maintaining dividends for at least 10 consecutive years. Also available in Canadian dollar hedged version.
IG Wealth Management on Feb. 16 announced plans to wind up Investors Group Corporate Class Inc. This will result in the merging of each corporate class fund into its corresponding trust fund equivalent, on a tax-deferred basis. IG said in a release, “Changes to tax legislation and evolving market trends have eliminated many of the benefits that were previously available to corporate class funds.” Where no corresponding trust fund equivalent currently exists, one will be launched. The mergers will take place on or about May 19, 2023. More information the funds affected can be found on the IG website.
Horizons ETFs Management on Feb. 10 announced that it will terminate the BetaPro Bitcoin ETF (TSX: HBIT) effective at the close of business on April 11. The fund is closed to new subscriptions and is expected to be de-listed from the Toronto Stock Exchange on or about April 6.
AGF Investments announced on Feb. 10 that it will terminate AGFiQ Global Balanced ETF Portfolio Fund and AGFiQ Global Income ETF Portfolio Fund effective at the close of business on or about April 14. AGF said in a release that the decision to close the Funds was driven by the small number of investors, relatively low assets, and the costs associated with maintaining such small funds.
Investors can transfer their investments into another AGF fund, or redeem their units. AGF is waiving a portion of the management fee that is normally applicable to the funds, from the close of business on February 10, 2023, until the termination date.
Horizons ETFs Management announced on Feb. 3 that it will consolidate the shares of certain exchange traded funds. After the close of trading on Friday, February 17, 2023, on the Toronto Stock Exchange, the shares of the following ETFs were consolidated in ther ratios shown on Feb. 17 and began trading on a post-consolidated basis on Feb. 21.
Mulvihill Capital Management Inc. announced on Feb. 1 that its Mulvihill U.S. Health Care Enhanced Yield ETF (TSX: XLVE) commenced trading on Feb. 1, 2023.
The fund invests in a portfolio of the U.S. health care issuers selected from the S&P 500 Index that are classified as “health care” by Standard and Poor’s Global Industry Classification Standard and monthly cash distributions. The fund is considered to be an “alternative mutual fund” and will employ modest leverage of approximately 25% of its net asset value.To generate additional income, the fund may write call and put options on a portion of its portfolio.
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