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Market month: Fund news and updates

Published on 11-03-2023

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Fund launches and terminations from iA Clarington, Horizons, Dynamic, and Franklin Templeton


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Fund news

iA Clarington launches three new ETFs

IA Clarington Investments Inc. on Oct. 31 announced the addition of three ETFs to the firm’s exchange-traded series:

Horizons changes robotics ETF’s name

Horizons ETFs Management (Canada) on Oct. 25 announced that it will change the name of the Horizons Robotics and Automation Index ETF to the Horizons Robotics & AI Index ETF (TSX: RBOT). Horizons says the name of the ETF has been changed to more closely correspond to the name of the ETF’s underlying index, the Indxx Global Robotics & Artificial Intelligence Thematic Index.

Dynamic launches four new active ETFs

Dynamic Funds on Oct. 24 announced the expansion of its Active ETF lineup with the launch of four new ETFs.

Dynamic winds up DMP

Dynamic Funds announced on Oct. 23 that it will wind up Dynamic Managed Portfolios Ltd. mutual fund corporation, to streamline its product shelf and more closely align with client preferences. The mergers of the terminating funds are expected to take effect on or about Nov. 17.

DMP Resource Class and DMP Power Global Growth Class will be merged into DynamicEdge Balanced Growth Portfolio.

DMP Value Balanced Class will be merged into Dynamic Value Balanced Fund.

IFIC releases September fund statistics

The Investment Funds Institute of Canada (IFIC) on Oct. 20 released fund statistics for September 2023.

Mutual fund assets totalled $1.836 trillion at the end of September, while assets decreased by $64.8 billion, or 3.4%, compared with August. Mutual funds recorded net redemptions of $7.6 billion in September.

ETF assets totalled $346.5 billion at the end of September, and assets decreased by $8.5 billion, or 2.4%, from August. ETFs recorded net sales of $2.9 billion in September.

Year to date, mutual fund assets increased by $26.5 billion, or 1.5%, and ETF assets increased by $32.8 billion, or 10.5%.

Similar to last month, money market fund sales were highest across all major asset classes for both mutual funds and ETFs, with the majority going into high-interest saving account (HISA) funds.

Thirty per cent of mutual funds had positive net sales and 51% of ETFs had positive net sales.

Franklin Templeton terminates two active ETFs

Franklin Templeton Canada on Oct. 12 announced that it will terminate its Franklin Core Balanced Active ETF (TSX: FLBA) and Franklin Risk Managed Canadian Equity Active ETF (TSX: FLRM), on or around December 13. Voluntary delisting will occur at the close of business on or around December 7. Unitholders who do not sell or redeem their units before the close of business on December 7, 2023, will receive cash representing their proportionate share of the ETF’ assets on or around December 14.

Dynamic debuts new liquid alternative fund

Dynamic Funds on Oct. 11 debuted its new liquid alternative solution, Dynamic Credit Opportunities Fund. The fund seeks to generate absolute returns over a complete market cycle through long and short positions in primarily corporate debt securities. It seeks enhanced risk-adjusted returns by investing in multiple assets classes in the credit spectrum including investment-grade corporate bonds, high yield bonds, preferred shares, hybrids, and loans. The fund is actively managed by Dynamic’s Marc-André Gaudreau.

Horizons launches six new ETFs

Horizons ETFs Management (Canada) Inc. on Oct 11 announced four new ETFs within its Asset Allocation Suite, as well as two ETFs within its Equity Essentials suite.

New ETFs in Asset Allocation Suite

New ETFs in Equity Essentials Suite

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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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