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Evolve Funds Group Inc. announced on Oct. 4 that its Evolve Enhanced Yield Bond Fund (TSX: BOND) and Evolve NASDAQ Technology Enhanced Yield Index Fund (TSX: QQQY), began trading on the Toronto Stock Exchange.
BOND will invest primarily in fixed income ETFs. Evolve has waived the management fee payable on the units of BOND from the date of the prospectus until March 31, 2024.
QQQY tracks the performance of the Nasdaq-100 Technology Sector Adjusted Market-Cap Weighted Index.
To enhance yield, as well as mitigate risk and reduce volatility, the funds will employ a covered call option writing program at the discretion of the Manager. The level of covered call option writing may vary based on market volatility and other factors.
Fidelity Investments Canada on Oct. 3 debuted its Fidelity Global Equity+ Fund. This one-ticket global equity solution provides access to distinct but complementary investment styles It also offers exposure to a liquid alternative mutual fund and holds a medium risk rating.
Guardian Capital LP announced on Oct. 3 that it will terminate its Guardian i3 Global REIT ETF (TSX: GIGR) effective on or about December 18, 2023.
AGF Investments Inc. on Oct. 2 debuted its new AGF Emerging Markets ex China Fund, which is also available as an ETF (NEO: AEMX).
The fund uses a bottom-up investment approach aiming to identify companies with significant business interests in emerging market countries outside of China, trading at a significant discount to their expected earnings potential. Companies are evaluated based on having strong long-term earnings growth potential, excellent management teams, and relative dominance in their respective markets.
BMO Asset Management Inc. on Oct. 2 debuted seven new ETFs.
BMO Long Short Canadian Equity ETF (TSX: ZLSC) takes long and short positions in Canadian stocks and will also invest excess cash in fixed income instruments or exposures. It may employ leverage to enhance returns, whereby the sum of long and short equity exposures will generally exceed 100%.
BMO Long Short US Equity ETF (TSX: ZLSU) takes long and short positions in U.S. stocks, and will invest excess cash in fixed income instruments or exposures. It may use leverage to enhance returns, whereby the sum of long and short equity exposures will generally exceed 100%.
BMO S&P/TSX 60 Index ETF (TSX: ZIU) tracks the the performance of the S&P/TSX 60 Index.
BMO Canadian Banks Accelerator ETF (NEO: ZEBA) aims for double (2x) the upside return of an index designed to give exposure to equity securities of diversified Canadian banks up to a cap, with approximately single exposure to the downside. The fund resets at the end of each Target Outcome Period, approximately quarterly.
BMO USD Cash Management ETF (TSX: ZUCM) aims to provide unitholders with exposure to high-quality short-term fixed income securities denominated in U.S. dollars.
BMO US Equity Accelerator Hedged to CAD ETF (NEO: ZUEA) seeks to provide unitholders with income and approximately double (2x) the upside return of an index designed to measure the large-cap segment of the US equity market up to a cap, with approximately single exposure to the downside The fund resets at the end of each Target Outcome Period, approximately quarterly.
BMO US Equity Buffer Hedged to CAD ETF – October (NEO: ZOCT) tracks an index designed to measure the large-cap segment of the U.S. equity market, while providing a buffer against the first 15% of a decrease in the market price of index, over a period of approximately one year from the first business day of October of each year to on or about the last business day of September of the following year (the Target Outcome Period).
BMO Asset Management Inc. announced on Sept. 29 that it will terminate the following ETFs on or about Dec. 15, 2023:
BMO MSCI Fintech Innovation Index ETF (TSX: ZFIN)
BMO MSCI Genomic Innovation Index ETF (TSX: ZGEN)
BMO MSCI Innovation Index ETF (TSX: ZINN)
BMO MSCI Next Gen Internet Innovation Index ETF (TSX: ZINT)
BMO MSCI Tech & Industrial Innovation Index ETF (TSX: ZAUT)
The units are expected to be de-listed on or about Dec. 11.
The Investment Funds Institute of Canada (IFIC) on Sept. 26 announced investment fund net sales and net assets for August 2023.
Mutual fund assets totalled $1.901 trillion at the end of August and assets decreased by $13.6 billion, or 0.7%, since July. Mutual funds recorded net redemptions of $5.7 billion in August.
ETF assets totalled $355.0 billion at the end of August, and assets decreased by $1.8 billion, or 0.5%, from July. ETFs recorded net sales of $1.9 billion in August.
View the full report on the IFIC website.
TD Asset Management Inc. on Sept. 26 debuted its TD Alternative Commodities Pool, which aims to help provide portfolio diversification, capital appreciation, and improved risk adjusted returns with low correlation to equity and fixed income markets over the long-term by capturing returns directly related to the commodity markets.
Bridgehouse Asset Managers on Sept. 18 announced two GB Wealth Inc. pooled funds for Canadian accredited investors: GBW Alternative All-Weather Growth Fund and GBW Alternative Short-Term Growth Fund. GB Wealth will sub-advise the portfolios and Bridgehouse will provide fund management, administration, and operational services.
National Bank Investments on Aug. 31 launched its NBI Global Small Cap Fund, which aims for exposure to small- to medium-cap companies located throughout the world by investing in a portfolio of other equity mutual funds. The fund is sub-advised by Pinestone Asset Management.
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