Last updated: Aug-21-2017

    
 
Fund news: Fund debuts, mergers & name changes
8/22/2017 4:54:27 PM
HOME : FEATURES : COLUMNS : Fund news: Fund debuts, mergers & name changes
Show Printable Version Download Plain Text
 
Fund Library News
News, announcements, and updates from Fund Library



By Fund Library News Wire  | Friday, July 28, 2017


 

By Mike Keerma

* Invesco changes fund name.
* RBC re-opens PH&N bond fund.
* Invesco fund mergers approved.
* Sun Life fund mergers.
* Evolve files for nine new ETFs.

* Invesco changes fund name. Invesco Canada announced that it will change the name of Invesco Intactive Strategic Yield Portfolio to Invesco Strategic Yield Fund. In a release the company said that the fund’s name is being changed to highlight the fund’s focus on yield.

* 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. Invesco Canada 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 Equity Fund.”

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 responsibility strategy.

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 manager.

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.

Check Fund Library’s Market Activity page regularly for active updates on key market indexes and commodities.

@FundLibrary – Follow Fund Library on Twitter for daily information and updates.

Disclaimer

© 2017 by Fund Library. All rights reserved. Reproduction in whole or in part by any means without prior written permission is prohibited.

The foregoing is for general information purposes only and is the opinion of the writer. No guarantee of investment performance is made or implied. It is not intended to provide specific personalized advice including, without limitation, investment, financial, legal, accounting or tax advice.

 
:: STOCK SEARCH
Find a Stock

(Leave blank for all)
Symbol   Name
:: MEMBER SERVICES
Username:
Password:
Forgot your password?
Register now
Tech Support
:: USEFUL LINKS
For general inquiries, please email the Librarian.
 
Home |  Features |  Member Services |  Tools |  Funds |  About Us
For any questions or problems with this site, please contact the Librarian.
Page ID: 20:40:1051:00016305:9/19/2016:12:02:29 PM Duration of this visit: 0 sec.