Market month: Fund news and updates
New ETFs from Arrow and Dynamic, fund news from Canada Life and Invesco
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* Arrow launches new liquid alternative ETF. Arrow Capital Management Inc. on Nov. 30 debuted its new Arrow Canadian Advantage Alternative Class (TSX: ACAA). It’s Arrow’s third actively managed exchange-traded fund series, and is an additional access point to the liquid alternative Arrow Canadian Advantage Alternative Class.
The fund offers investors access to a liquid alternative strategy investing in equity, fixed income, currency, and commodity markets. It is managed using a proprietary macro investment process to tactically allocate the portfolio to the different asset classes using both long and short positions.
* Canada Life announces fund mergers. Canada Life Investment Management Ltd. on Nov. 23 announced plans to merge five Canada Life mutual funds on or about Feb. 3, 2023. In a release, Canada Life said, “These mergers will make it easier for advisors and investors to navigate the Canada Life mutual fund product shelf.”
Canada Life Canadian Low Volatility Fund merges into Canada Life Canadian Core Dividend Fund.
Canada Life U.S. Low Volatility Fund merges into Canada Life U.S. Value Fund.
Canada Life Pathways Money Market Fund merges into Canada Life Money Market Fund.
Canada Life Pathways Canadian Equity Fund merges into Canada Life Canadian Growth Fund.
Canada Life Pathways U.S. Equity Fund merges into Canada Life U.S. Value Fund.
* Invesco launches new income fund and converts pool to alternative fund. Invesco Canada Ltd. on Nov. 17 debuted its new income-focused Invesco Global Equity Income Advantage Fund. It also announced the conversion of Invesco Balanced-Risk Allocation Pool to an alternative mutual fund. Both strategies are managed by the Invesco Global Asset Allocation team.
Invesco Global Equity Income Advantage Fund aims for high income as well as downside protection during volatile market environments. The fund uses equity-linked notes to generate income and also provide downside protection.
Invesco Balanced-Risk Allocation Pool, a diversifier for portfolios that are overweight equities and/or lack inflation hedges, is now available as an alternative mutual fund. The pool emphasizes economic diversification and aims to provide structural resilience through various economic environments. The pool is Invesco’s first alternative mutual fund available to retail investors.
* Dynamic launches discount bond ETF. Dynamic Funds on Nov. 8 announced the launch of its Dynamic Active Discount Bond ETF (TSX: DXDB), which invests primarily in Canadian, investment-grade corporate bonds with a term to maturity of between three to seven years. The ETF seeks to generate returns through active selection of discounted bonds. DXDB will be actively managed by Vice President & Senior Portfolio Manager Marc-André Gaudreau.
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