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Fund news: Fund launches, mergers, and name changes
12/12/2017 9:25:15 AM
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By Fund Library News Wire  | Friday, November 24, 2017


 

By Mike Keerma

* Horizons launches Nasdaq Canada ETF .
* Excel merges equity and balanced funds.
* TD launches two new global bond funds.
* Counsel merges two funds, renames four others.
* Mackenzie launches three new ETFs.

* Horizons launches Nasdaq Canada ETF. Horizons ETFs Management is partnering with Inovestor Inc. on its new Horizons Inovestor Canadian Equity Index ETF (TSX: INOC), which tracks the Nasdaq Inovestor Canada Index. The fund has a Canadian-focused mandate and holds high-quality Canadian stocks. The Index consists of 25 equal-weighted large-capitalization, Canadian-listed companies, which trade at a reasonable price with the best rankings in Inovestor's StockPointer stock selection model.

* Excel merges equity and balanced funds. Excel Funds Management Inc. announced plans to merge the Excel Blue Chip Equity Fund into Excel Emerging Markets Balanced Fund. The merger is expected to be completed on Nov. 24, after which the Excel Blue Chip Equity Fund will be terminated.

* TD launches two new global bond funds. TD Asset Management Inc. debuted its new TD Global Income Fund and TD Global Unconstrained Bond Fund with the aim of providing portfolio diversification through geographic, sector and currency exposure from global markets. The funds are offered in a wide range of load, no-load and fee-based series options.

TD Global Income Fund invests primarily in corporate fixed income securities from around the world with modest foreign currency exposure. It utilizes fundamental economic analysis of regions, currencies and interest rates.

TD Global Unconstrained Bond Fund invests in fixed-income from a broad range of issuers in many countries, industries, and sectors around the globe.

* Counsel merges two funds, renames four others. Counsel Portfolio Services Inc. plans to merge its Counsel Income Managed Portfolio into Counsel Regular Pay Portfolio (to be renamed Counsel Monthly Income Portfolio). It will also merge Counsel World Managed Portfolio into Counsel Balanced Portfolio. In a release Counsel said the mergers aim to reduce the duplication in Counsel’s line-up and reduce costs for unitholders.

In addition Counsel announced that the structure of four of its Managed Portfolios will change from their current tactical asset allocation mix of mutual funds, ETFs, and sub-advisors to a more streamlined fund-of-fund structure. It says the name changes, to take effect Jan. 16, will better reflect the updated investment strategies.

Counsel Regular Pay Portfolio will be renamed Counsel Monthly Income Portfolio.
Counsel Managed Yield Portfolio will be renamed Counsel Income Portfolio.
Counsel Managed High Yield Portfolio will be renamed Counsel High Income Portfolio.
Counsel Managed Portfolio will be renamed Counsel Balanced Growth Portfolio.

* Mackenzie launches three new ETFs. Mackenzie Financial Corporation announced three new exchange traded funds that it says aim to provide various opportunities to manage interest rate risk, leverage non-traditional asset classes, and invest in enhanced global equity diversification. The funds include Mackenzie Ivy Global Equity ETF (TSX: MIVG) for global equity exposure, Mackenzie Canadian Short Term Fixed Income ETF (TSX: MCSB) for short-term fixed income exposure, and Mackenzie Portfolio Completion ETF (TSX: MPCF) for exposure to alternative asset class ETFs and currencies.

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.

 
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