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Market month: Fund news and updates

Published on 04-05-2024

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Fund news from BMO, NBI, Franklin Templeton, Evolve, Mackenzie, and Horizons


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Fund news

BMO launches equity buffer ETF

BMO Asset Management Inc. on April 1 debuted its BMO US Equity Buffer Hedged to CAD ETF – April (CBOE CA: ZAPR). The ETF aims for income and appreciation that tracks the return of an index designed to measure the large-cap segment of the U.S. equity market while providing a buffer against the first 15% of a decrease in the market price of the index, over a period of approximately one year from the first business day of April to the last business day of March of the following year.

NBI debuts new global equity ETF

National Bank Investments and Evovest Inc. on March 28 announced the launch of the Evovest Global Equity ETF (TSX: EVO). The fund aims to provide long-term capital growth through investments in securities of other investment funds, in a diverse portfolio comprised primarily of common shares of companies located around the world. The manager relies on its proprietary machine-learning models, which are quantitative algorithms that generate predictive results based on the historical data it is asked to treat.

Franklin Templeton launches high dividend/low volatility ETFs

Franklin Templeton Canada on March 28 debuted a suite index ETFs that combine the complementary factors of high dividends – backed by strong corporate earnings and profitability – with low volatility to help reduce overall risk in a portfolio.

“Instead of needing to invest in different factors separately, this combined strategy of seeking sustainable high dividends and low volatility offers investment advisors ‘the best of both worlds’ and complements a portfolio of active and passive strategies by aiming to provide higher income and reduce overall risk,” said Ahmed Farooq, SVP, head of Retail ETF Distribution, Franklin Templeton Canada. “While many dividend strategies focus on what dividends have been paid in the past, this suite of index ETFs also looks ahead to see what dividends can potentially be maintained and whether companies will remain profitable to support it,” he added.

Evolve’s new AI fund

Evolve Funds Group Inc. on March 25 launched the Evolve Artificial Intelligence Fund (TSX: ARTI), which uses generative artificial intelligence (AI) to enhance portfolio construction. The fund invests in AI companies expected to benefit from the increased global adoption of AI. It is actively-managed by Evolve and seeks to achieve its investment strategy by principally utilizing a database generated by Gradient Boosted Investments Inc.

BMO launches gold bullion funds

BMO Asset Management Inc. on March 8 debuted its BMO Gold Bullion ETF (CAD Units) (TSX: ZGLD) (also in U.S. dollar units, ZGLD.U) and BMO Gold Bullion Hedged to CAD ETF (TSX: ZGLH).

BMO says ZGLD was created in response to investor demand for and ETF that not only invests in gold, but also holds physical gold in a highly secured location within Canada. BMO Gold Bullion ETF seeks to replicate the performance of the price of gold bullion by investing in long-term holdings of unencumbered gold bullion in 400 troy ounce international bar sizes. It does not speculate with respect to short-term changes and is not actively managed.

ZGLH aims for exposure to the price of gold bullion by investing primarily in BMO Gold Bullion ETF and using derivative instruments to hedge foreign currency exposure back to the Canadian dollar.

Mackenzie fund mergers and terminations

Mackenzie Investments on March 6 announced one proposed fund merger and one proposed fund termination, subject to a vote by unitholders.

The Mackenzie Multi-Strategy Absolute Return Fund will be merged into Mackenzie Global Macro Fund. In addition, Mackenzie Credit Absolute Return Fund will be terminated. If approved, both the merger and termination (including liquidation) of funds is expected to be executed on or about June 21, 2024.

Horizons rebrands as Global X

Horizons ETFs Management (Canada) Inc. on March 6 announced it will rebrand as Global X Investments Canada Inc. in May 2024.

Horizons ETFs will continue to trade under their current ticker symbols and mandates, while the Horizons-branded fund names will be updated to the Global X brand.

Rohit Mehta, President and CEO of Horizons ETFs, said “As we harness the strength and reach of our global network, the investment opportunities for Canadians will also expand. By working with us, our investors can expect greater global insights and an enhanced investment experience, while continuing to receive trusted Canadian expertise.”

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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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