* RBC re-opens PH&N bond fund.
RBC Global Asset Management re-opened its popular
Phillips, Hager & North Short Term Bond & Mortgage Fund to new investors effective July 26. The fund aims for high yields and
stability of capital with a diversified portfolio of short-term Canadian
government and corporate fixed-income securities, and first mortgages on
property located in Canada.
* Invesco fund mergers approved.
announced unitholder approval for the merger of
Invesco Emerging Markets Debt Fund into
Invesco Global Bond Fund.
The merger will be effective at the close of business on July 28, 2017.
Except for Series D and PTFU, which do not exist in the Global Bond Fund,
the company said assets will be transferred to the corresponding series of
the continuing fund.
* Sun Life fund mergers.
Sun Life Global Investments announced a number of fund mergers, which its says are aimed at “providing
investors with more long-term value.”
Sun Life Sentry Global Mid Cap Fund will be re-named Sun Life Schroder Global Smaller Companies Fund, as
Schroder Investment Management North America takes over as portfolio
sub-advisor. The investment strategies of the fund will be amended to
reflect Schroders’ internationally focused investment style. The investment
objective will remain the same. The transition will be effective on or
about October 2, 2017.
Sun Life MFS Canadian Equity Fund and
Sun Life MFS Canadian Equity Value Fund will merge into
Sun Life MFS Canadian Equity Growth Fund. The mergers will be effective on or about October 27, 2017. In a release,
Sun Life added that “as a result of the mergers, the continuing fund will
be the successor underlying trust fund for the Sun Life MFS Canadian Equity
Class, which will be renamed the Sun Life MFS Canadian Equity Growth Class.
The investment strategies of the Sun Life MFS Canadian Equity Class will be
amended to reflect that it will invest primarily in the Sun Life MFS
Canadian Equity Growth Fund, the successor fund to Sun Life MFS Canadian
Sun Life Sentry Conservative Balanced Fund will merge into
Sun Life Granite Income Portfolio. Pending approvals, the merger is expected to be effective on or about
October 27, 2017.
* Evolve files for nine new ETFs.
In addition to announcing preliminary prospectuses for four new
actively-managed ETFs, Evolve Funds Group Inc. also
recently filed a Preliminary Prospectus for five new funds that will track
various Solactive indices, which Evolve says are focused on new emerging
trends and industries.
The company announced four actively-managed ETFs:Evolve Active US Core Equity ETF,Evolve Active Short Duration Bond ETF,Evolve Active Canadian Preferred Share ETF, Evolve Active Floating Rate Loan ETF. ETFs in its emerging
trends line-up will include the following:
Evolve North American Gender Diversity Index ETF (HERS)
will track the Solactive Equileap North American Gender Equality Index,
investing in shares of Canadian and U.S. companies that have demonstrated
commitment to gender diversity as part of their corporate social
Evolve Cyber Security Index ETF (CYBR)
will track the Solactive Global Cyber Security Index of domestic and
international companies that are involved in the cyber security industry
through hardware and software development.
Evolve Automobile Innovation Index ETF (CARS)
will track the Solactive Future Cars Index, which focuses on companies
involved in developing electric drivetrains, autonomous driving or
network-connected services for automobiles.
Evolve US Banks Enhanced Yield ETF (CALL)
will track the Solactive Equal Weight US Bank Index, while mitigating
downside risk. The fund will invest primarily in the equity constituents of
the Solactive Equal Weight US Bank Index, while writing covered call
options on up to 33% of the portfolio securities, at the discretion of the
Evolve Global Healthcare Enhanced Yield ETF (LIFE)
will track the Solactive Global Healthcare 20 Index,
investing primarily in the equity constituents of the index while writing
covered call options on up to 33% of the portfolio securities, at the
discretion of the manager.
* Stone Asset changes fund names.
Stone Asset Management
said it will change to the names of all of the funds in its line-up,
effective on the renewal of the simplified prospectus and annual
information form, on or about August 25, 2017.
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