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Franklin Templeton Canada on June 5 announced it is expanding its multi-asset ETF portfolio suite with a new all-equity strategy and the addition of an ETF purchase option for each of the portfolios, which are now listed on the Toronto Stock Exchange. The ETF portfolios are actively managed by Franklin Templeton Investment Solutions using a dynamic asset allocation process to manage a portfolio of proprietary and non-proprietary ETFs.
The four ETF portfolios are:
TD Asset Management Inc. on June 5 announced plans to terminate the following funds Oct. 25, 2024. In a release, TD said the move was made to “simplify its offering line-up and continue to deliver value to its clients.” Terminating funds are:
Manulife Investment Management on June 4 debuted two new actively-managed Manulife Smart Exchange Traded Funds (ETFs). The new funds combine exposure to dividend securities with options derivatives and aim to provide investors with multiple income streams in a single ETF. Manulife IM's Multi-Asset Solutions Team and its systematic equity beta team will actively manage these new ETFs.
Manulife Smart Enhanced Yield ETF (CBOE CAN: CYLD) invests primarily in a diversified portfolio of Canadian dividend-paying securities. Managers use a Manulife IM proprietary quality dividend screen to select securities that have high and sustainable dividends, or dividends that are expected to grow over time, to pursue higher risk-adjusted returns. Managers will also at times write covered-call options or cash-covered put options on a percentage of the fund’s holdings to generate additional income streams for the ETF’s shareholders. CYLD will distribute income monthly.
Manulife Smart US Enhanced Yield ETF (CBOE CAN: UYLD) has a similar investment objective as CYLD for U.S. dividend-paying securities, also distributing income monthly. UYLD will seek to hedge substantially all of the foreign currency exposure through investing in derivatives and offers an unhedged solution (UYLD.B).
Brompton Funds Ltd. on June 3 launched two new ETFs under the Cash Flow Kings banner: and
Brompton Canadian Cash Flow Kings ETF (TSX: KNGC) tracks the Brompton Index One Canadian Cash Flow Kings Index of 35 mid- to large-capitalization Canadian equities whose issuers exhibit high free cash flow relative to their enterprise value.
Brompton U.S. Cash Flow Kings ETF (TSX: KNGU) tracks the Brompton Index One U.S. Cash Flow Kings Index of 50 mid- to large-capitalization U.S. equities whose issuers exhibit high free cash flow relative to their enterprise value.
BMO Global Asset Management on May 28 announced it is launching two new funds and terminating certain series of 11 other funds.
BMO GAM is launching the following funds:
BMO Inflation Opportunities Fund. This aims for current income, long-term capital appreciation, and inflation resilience by investing primarily in debt instruments and/or equity securities of issuers anywhere in the world. The fund may invest directly or indirectly by using derivative instruments or investing all or a portion of its assets in one or more investment funds. Managers may use derivatives, which may introduce leverage into the fund and may also borrow cash and sell securities short. The fund’s maximum aggregate exposure to short selling, cash borrowing, and derivatives used for leverage may not exceed 300% of the fund’s NAV, calculated on a daily basis.
BMO Strategic Fixed Income Yield Fund aims to generate income while preserving capital by investing primarily in debt instruments anywhere in the world. The fund may make these investments directly or indirectly by using derivative instruments or investing all or a portion of its assets in one or more investment funds.
In addition, BMO GAM intends to terminate the following series of BMO Mutual Funds on or about Aug. 16, 2024:
The Investment Funds Institute of Canada (IFIC) on May 22 released its report on investment fund net sales and net assets for April 2024.
Mutual fund assets totalled $2.013 trillion at the end of April, down by $42.0 billion, or 2.0% since March. Mutual fund net redemptions were $2.7 billion in April.
ETF assets totalled $413.6 billion at the end of April, down by $3.6 billion, or 0.9% since March. ETF net sales were $5.5 billion in April.
In addition IFIC reported the following statistics:
View the complete report at IFIC’s website.
Fidelity Investments Canada on May 22 launched two new mutual funds and four new ETF series. The new products include an ETF series of Fidelity Global Equity+ Fund (launched in fall 2023).
New mutual funds include the following:
Fidelity Global Equity+ Balanced Fund and ETF Series offers a balanced version of the Fidelity Global Equity+ Fund. The fund aims to diversify risk and return potential with three equity styles (through portfolio managers Mark Schmehl, Dan Dupont, and Hugo Lavallée) and two fixed-income teams.
Fidelity Global Micro-Cap Fund aims for exposure to high-growth potential companies and diversification opportunity with micro-caps from around the world. Manager Salim Hart uses a blend of fundamental and quantitative research to find quality businesses at attractive prices.
New ETFs include the following:
Fidelity Global Equity+ Fund – ETF Series (TSX: FGEP) provides an ETF version of the mutual fund that combines three equity styles (through portfolio managers Mark Schmehl, Dan Dupont, and Hugo Lavallée) plus exposure to liquid alternatives. The fund aims for diversification and above-market return potential throughout a market cycle.
Fidelity Tactical High Income Fund – ETF Series (TSX: FTHI) is an ETF version of the mutual fund (managed by Adam Kramer, Ford O'Neil, and Ramona Persaud) that aims for income and capital growth across various income sectors. The fund offers flexibility to invest in high yield bonds, investment grade bonds, preferred shares, convertible securities, and emerging market debt.
Fidelity Emerging Markets Fund – ETF Series (TSX: FCEM) is an ETF version of the mutual fund (managed by Sam Polyak) that aims to invest in leading companies in emerging markets. The fund aims for enhanced diversification with lower correlation to broader markets and developed economies.
Manulife Investment Management on May 14 debuted two new liquid alternative funds. The funds are managed by Manulife Investment Management's Canadian fixed-income team and global multi-sector fixed-income team, respectively.
Manulife Alternative Opportunities Fund aims to generate attractive long-term total returns through income and capital appreciation while mitigating potential volatility through hedging strategies. The fund is managed by Roshan Thiru, Altaf Nanji, Sivan Nair, and Jonathan Crescenzi, who have more than 85 years of combined industry experience.
Manulife Strategic Income Plus Fund seeks to maximize total return through income generation and capital appreciation. The fund aims for potentially higher yields than a typical bond fund, while also actively managing duration and currency exposure. The fund is managed by Christopher Chapman, Kisoo Park, Thomas C. Goggins, Bradley Lutz, and Charles Tomes, who have more than 140 years of combined industry experience.
Guardian Capital LP on April 30 launched its Guardian Investment Grade Corporate Bond Fund ETF (TSX: GIGC). The fund aims to provide investors with a higher level of income by investing primarily in mid-term investment grade corporate bonds. The fund is also available in Series A, F, and I mutual fund units.
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