Advisor’s Edge regularly lists significant changes in the Canadian investment product landscape. Here are some of the newly released funds, as well as changes to the existing ETF.
- TD Asset Management Inc.Trading of the TD Global Carbon Credit Index ETF (TSX: TCBN) began on August 30. The fund will track the performance of the Solactive Global Carbon Credit CAD Hedged Index, which measures the return on investment in global carbon caps and trades, TDAM said in its fund overview. The management fee is 0.65% and the risk rating is high. “Carbon credits have become an important alternative asset class by putting a price on carbon emissions and creating a market where companies can trade carbon credits,” TDAM CEO Bruce Cooper said in a statement. Other fund producers, including Horizons ETFs Management (Canada) Inc. and Ninepoint Partners LP, also launched carbon credit products, expecting carbon credits to become more expensive as governments impose restrictions to curb emissions.
- Canadian Equitable Life Insurance Company added 12 segregated funds to its Pivotal Select investment class (75/75). The new funds, available from Monday, are a combination of balanced and index mutual funds, as well as specialist asset classes such as infrastructure, real estate and emerging markets. The following funds are currently available:
- Choose the Equitable Life S&P/TSX Composite ESG Index fund
- Choose the Equitable Life S&P 500 ESG Index Fund
- Choose the Equitable Life NASDAQ 100 ESG Index fund
- Equitable Life ClearBridge Sustainable Global Infrastructure Income Fund Select
- Equitable Life Fidelity Climate Leadership Sustainable Fund Select
- Equitable Life Fidelity Climate Leadership Fund Select
- Equitable Life Fidelity US Focused Stock Fund Select
- Equitable Life Fidelity Global Innovators Fund Select Fund
- Equitable Life Dynamic global real estate fund Select
- Equitable Life Dynamic equity fund for Asia Pacific Select
- Choose the Equitable Life Mackenzie Emerging Markets Fund
- Choose the Equitable Life Bissett Core Plus bond fund
- Evolve Funds Group Inc The US High Interest Savings Account Fund (TSX: HISU.U) began trading on Wednesday. The initial interest rate was the Fed cap +0.20%, which is currently 2.70%. Until December 31, the management fee for ETFs and Class F and I mutual funds is 0.05%, after which it will increase to 0.10%. The fee is 0.30% for a Class A mutual fund because it covers 0.25% of the trailer, an Evolve Funds spokesman said. The risk assessment is low.
- The name of the underlying index of the Invesco Senior Loan Index ETF changed after Morningstar Inc. acquired the index. from S&P Dow Jones Indices. Invesco Canada Ltd. said the index, which is designed to track the market-weighted performance of the largest institutional leveraged loans, is now called the Morningstar LSTA US Leveraged Loan 100 Index. No changes have been made to the methodology. The ETF typically invests at least 80% of its assets in the constituent securities of the underlying index. The ETF is not sponsored, endorsed, sold or promoted by Morningstar.
If you would like us to consider your launch, please email Greg Meckbach at greg@newcom.ca.
