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* Empire Life shuts down dividend fund. Empire Life Investments on Oct. 3 announced it will terminate the Empire Life Dividend Growth Mutual Fund, effective December 5, 2022. Investors may redeem their units up to the close of business on Dec. 5, 2022. Empire Life Investments Inc. will waive any redemption fees, sales charges, or short-term trading fees for redemptions of units of the Fund. The fund is closed to new purchases.
* Fidelity debuts global small cap fund and Ether ETF. Fidelity Investments Canada on Sept. 28 launched its new Fidelity Global Small Cap Opportunities Fund. The fund invests primarily small cap stocks located anywhere in the world and aims for long-term capital growth. This fund is co-managed by Fidelity’s Connor Gordon and Chris Maludzinski, who oversee a high conviction portfolio of typically 40-80 small-cap stocks anywhere in the world. The managers aim for exposure to mispriced investment opportunities where the market has underreacted to positive change or overreacted to negative change.
Fidelity also announced the debut of Fidelity Advantage Ether ETF (TSX: FETH) and Fidelity Advantage Ether ETF Fund for investors looking for exposure to ether. These strategies leverage Fidelity Clearing Canada, Canada's first Investment Industry Regulatory Organization of Canada entity to offer a secure digital asset trading and custody solution for institutional investors including investment funds.
Fidelity Advantage Ether ETF invests in Ether cryptocurrency, while the Fidelity Advantage Ether ETF Fund holds units of the FETH. When an investor purchases the ETF, they will own units of the ETF, which in turn owns physical Ether cryptocurrency. The price of units will go up and down directly in relation to the price of ether.
* FT Portfolios terminates dividend ETF. FT Portfolios Canada announced on Sept. 27 that it will shut down First Trust AlphaDEX Emerging Market Dividend ETF (CAD-Hedged) (TSX: FDE), First Trust AlphaDEX European Dividend Index ETF (CAD-Hedged) (TSX: EUR), and First Trust Tactical Bond Index ETF (TSX: FTB) and will redeem all of the issued and outstanding units, payable to unitholder on or about Dec. 9. The ETFs are expected to be delisted from the TSX on or about Dec. 6.
* Integra shuts down nine funds. Integra Capital on Sept. 22 announced plans terminate the nine of its mutual funds on or about March 28, 2023:
* Evolve debuts global real estate ETF. Evolve Funds Group on Sept. 22 launched its new Evolve Slate Global Real Estate Enhanced Yield Fund (TSX: BILT). Sub-advised by Slate Securities L.P. the fund aims to provide a yield return in excess of the yield return of the FTSE EPRA/NAREIT Developed Index with a level of volatility lower than index. The expected return will be derived from the yield return but also from capital appreciation and potentially other yield-enhancing strategies, including option writing.
* Franklin Templeton merges two ETFs and debuts sustainable balanced fund. Franklin Templeton Canada announced on Sept. 21 the proposed merger of Franklin U.S. Investment Grade Corporate Bond Active ETF (CAD-Hedged) (TSX: FLUI) into Franklin Western Asset Core Plus Bond Active ETF (TSX: FWCP) on a taxable basis, subject to investor approval.
Franklin Western Asset Core Plus Bond Active ETF holds investment-grade debt instruments of issuers anywhere in the world while following a sustainable investment approach, by investing directly in such instruments and/or in units of Franklin Western Asset Core Plus Bond Fund.
Franklin Templeton also debuted its Franklin Brandywine Global Sustainable Balanced Fund, managed by Brandywine Global. The manager uses an active, high-conviction approach, with bottom-up research, aiming to derive value and manage risk.
* Dynamic launches new covered options ETF. Dynamic Funds on Sept. 20 debuted its new Dynamic Active Enhanced Yield Covered Options ETF (TSX: DXQ). Portfolio Managers Damian Hoang and Derek Bastien use a blend of fundamental and quantitative strategies to invest in a portfolio of primarily North American, dividend-paying stocks, while also writing cash-covered put and covered call options. The fund targets a fixed monthly distribution by earning options premiums and dividends.
* Horizons debuts two leveraged bank ETFs. Horizons ETFs Management Canada on Sept. 13 launched its new BetaPro Equal Weight Canadian Bank 2x Daily Bull ETF (TSX: HBKU) and BetaPro Equal Weight Canadian Bank -2x Daily Bear ETF (TSX: HBKD).
HBKU and HBKD provide leveraged and inverse leveraged exposure, respectively, to Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce, and National Bank of Canada.
HBKU targets daily investment results aims to correspond to two times (200%) the daily performance of the Solactive Equal Weight Canada Banks Index. HBKD seeks daily investment results aiming to correspond to two times (200%) the inverse (opposite) of the daily performance of the Solactive Equal Weight Canada Banks Index.
* Purpose launches cash management ETF. Purpose Investments Inc. on Sept. 14 debuted its Purpose Cash Management Fund (TSX: MNY). The fund is designed to take advantage of the current economic environment and turn rising interest rates into higher yields for investors’ cash allocations. The fund’s yields are expected to increase in tandem with the Bank of Canada expected interest rare hikes, with the aim of offering higher yields than traditional cash alternatives. Portfolio managers will primarily focus on Canadian-dollar cash and short-term, high-quality money market instruments with a focus on managing liquidity, diversification, and credit quality.
* Franklin Templeton debuts short bond ETF. Franklin Templeton Canada launched the Franklin Bissett Ultra Short Bond Active ETF (TSX: FHIS). This is a highly liquid, ultra-short-duration bond ETF. Using active allocation strategies, managers Brian Calder, Sevrika Galipeau, and Darius Taheri aim for income and preservation of capital by investing primarily in debt instruments of Canadian issuers.
* All-women-managed sustainable ETFs debut on NEO exchange. CBOE Global Markets owner of the NEO Exchange, on Sept. 8 announced the EMPWR funds, a suite of sustainable ETFs managed by Emerge Canada Inc. The funds are also available on the CBOE BZX Exchange in the U.S.
Emerge EMPWR Sustainable Dividend Equity ETF (NEO: EPCA)
Emerge EMPWR Sustainable Global Core Equity ETF (NEO: EPZA)
Emerge EMPWR Sustainable Emerging Markets Equity ETF (NEO: EPCH)
Emerge EMPWR Unified Sustainable Equity ETF (NEO: EPWR)
Emerge EMPWR Sustainable Select Growth Equity ETF (NEO: EPGC)
The ETFs are managed by an all-women portfolio management team, and are designed to focus on sustainability, with a securities selection process based on Emerge’s proprietary ESG framework.
* Mackenzie debuts new inflation focused and mid-cap funds. Mackenzie Investments on Sept. 8 launched two new mutual funds:
Mackenzie Inflation-Focused Fund aims to help diversify investment portfolios by adding exposure to assets less sensitive to inflation, which may help to mitigate impact on investment returns. To achieve this, the fund will invest in a mix of equity, fixed-income securities, and commodities that are expected to be collectively resilient during inflationary periods.
Managers use fundamental research and a proprietary model to identify prevailing inflation characteristics, and signal tactical shifts to its asset allocation. The fund will have a targeted asset mix of 40%-60% equity, 40%-60% fixed income, and 0%-10% commodities. It may invest in other asset classes that have historically performed well in an inflationary environment.
Mackenzie USD US Mid Cap Opportunities Fund aims for long-term capital growth by investing primarily in shares of mid-capitalization U.S. companies, with a focus on those with strong management and growth prospects and attractive financial metrics. It will have the same holdings as the existing Mackenzie US Mid Cap Opportunities Fund but will be managed as a separate pool of assets.
* Guardian debuts longevity focused funds. Guardian Capital on Sept. 7 introduced its GuardPath Longevity Solutions, created in partnership with Professor Moshe A. Milevsky, PhD., a recognized expert in retirement and portfolio longevity. The suite of funds includes:
GuardPath Managed Decumulation 2042 Fund. Designed to optimize the utility of invested capital during retirement, it seeks to deliver attractive and steady cash flow over a 20-year period through sophisticated risk-management techniques aimed at extending portfolio longevity.
GuardPath Modern Tontine 2042 Trust. The fund aims to deliver financial security to retirees in their later years of life, with significant payouts to surviving unitholders in 20 years, based on compound growth and the pooling of survivorship credits.
Hybrid Tontine Series. These funds combine the strategies of the GuardPath Managed Decumulation and the GuardPath Modern Tontine to offer a holistic solution for the entirety of retirement. They aim to optimize the utility of invested capital during retirement through steady cash flow for 20 years and provide significant payouts to surviving unitholders in 20 years.
* Lysander launches two short-term fixed-income ETFs. Lysander Funds on Sept. 1 debuted two new ETFs:
Lysander-Canso Corporate Treasury ActivETF (TSX: LYCT) aims for total returns consisting principally of interest income by investing primarily in liquid short-term fixed-income and floating-rate debt securities of Canadian and foreign issuers.
Lysander-Canso Floating Rate ActivETF (TSX: LYFR) targets total returns consisting principally of interest income by investing primarily in floating-rate and other short-term debt securities of Canadian and foreign issuers.
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