* First Asset closes covered call ETF.
First Asset Investment Management Inc. announced that it will terminate its
First Asset Can-Energy Covered Call ETF (TSX: OXF) on February 15, 2018. The company gave no reason for the termination, but
clues may be found in the fund’s low $5.8 million asset base, negative
rates of return (as of Oct. 31) for every period, and a steadily declining
unit price through 2017.
* iA Financial launches a barrage of new funds and portfolios.
iA Financial Group
announced the debut of four new global segregated funds and a family of
five global index portfolios.
Two segregated funds will be managed by Forstrong Global Asset Management,
and includeGlobal Diversified Fixed Income Fund (Forstrong) and the Global Diversified Equity Fund (Forstrong). And two will
be managed by Fidelity: Fidelity Global Monthly Income and Fidelity Global Concentrated Equity.
iA Financial also announced its family of five new Indexia funds, a family of
low-cost global index portfolios. According to an iA Financial release, the
funds consist of recognized stock indexes and includeIndexia Prudent, Indexia Moderate,Indexia Balanced, Indexia Growth, and Indexia Aggressive funds. The funds are passively managed
with monthly rebalancing, and carry an MER of 1.95% (in Classic Series
* Mackenzie’s new RI ETF begins trading.
Mackenzie Financial Corp. debuted its
Mackenzie Global Leadership Impact ETF (NEO: MWMN), which aims to provide investors with an opportunity to impact social and
governance change with a focus on promoting the benefits of women in
leadership. The fund will invest primarily in companies that promote gender
diversity and women's leadership, anywhere in the world.
Sub-advised by PAX Ellevate Management LLC, which specializes in women in
leadership, the managers assess potential investments using a number of
criteria, including proportional representation of women on boards of
directors and in leadership positions in the companies, such as CEOs and
Michael Cooke, Senior Vice President and Head of Exchange Traded Funds at
Mackenzie Investments, said “The Mackenzie Global Leadership Impact ETF
provides investors with a progressive product, promoting the benefits of
* Desjardins launches adds to controlled volatility ETF lineup.
Desjardins Global Asset Management Inc. announced that its new
Desjardins Emerging Markets Multifactor-Controlled Volatility ETF
(TSX: DFE) has commenced trading. The fund aims to track the
Scientific Beta Emerging Markets Multifactor-Controlled Volatility Index,
which selects emerging markets securities with an exposure to six
documented long-term rewarded risk factors, including size, valuation,
momentum, volatility, profitability, and asset growth. Under normal market
conditions, the fund will primarily invest in emerging markets securities.
* Invesco switches exchanges for PGL.
Invesco Canada Ltd. has received approval to switch the listing exchange
PowerShares Ultra Liquid Long Term Government Bond Index ETF (TSX:
PGL) to the Aequitas NEO Exchange. PGL will be delisted from TSX on Dec. 13, and
will commence trading on the NEO Exchange on Dec. 14.
* Mutual fund assets balloon to $1.47 trillion in October.
According to the
Investment Funds Institute of Canada’s monthly industry survey for October, total mutual fund assets under
management rose to $1.468 trillion, compared to $1.428 trillion in
September, an increase of $40.7 billion, or 2.9%. Since October 2016, total
mutual fund assets have increased by $150.1 billion, or 10.2%. Balanced
funds held the lion’s share of assets at $761.7 billion, with equity funds
claiming $479.8 billion in assets under management. Bond funds came a
distant third with $189.4 billion under management.
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