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Horizons AlphaPro has announced the launch of Global Dividend ETF, which will seek long-term returns consisting of regular dividend income and modest long-term capital growth.

“Volatile market conditions over the past two years highlight the tremendous value of dividend-paying stocks. Dividends provide a strong cushion in times of market uncertainty,” said Ken McCord, president of AlphaPro. “Canadian companies represent only a small share of the world’s companies. Having global exposure gives an investor the opportunity to buy the world’s best dividend-paying stocks.”

The assets of the fund are managed by Guardian Capital LP, which has been managing private client and institutional money for more than 40 years and currently oversees more than $13.4 billion in assets under management.

The ETF will initially seek to hedge 50% of its non-Canadian dollar currency exposure, and may continue to hedge such exposure at the discretion of Guardian Capital.

Guardian Capital will invest primarily in equity securities listed on North American exchanges, including American Deposit Receipts, and may also from time to time invest in preferred and fixed-income securities such as government bonds, corporate bonds or treasury bills.

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Scotia hires co-head for global prime brokerage

Scotia Capital has hired New-York-based John Stracquadanio to work with Patrick Blessing as co-head of its global prime brokerage business. Stracquadanio will lead global product development, while Blessing will lead global client development.

“We are excited to have John come on board,” said Blessing. “His expertise will assist us in building out a globally competitive platform and demonstrates our commitment to growing our international business.”

Stracquadanio added, “I am thrilled about this opportunity to join the Scotiabank Group. The strength of Scotia Capital as an organization, and its ability to further enhance our prime finance offering in the U.S., Europe and Asia, attracted me to the opportunity.”

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Canadian homeowners financially fit

Amid growing fears over the impact of the recent bank rate hike on mortgage payments, a recent survey shows Canadian homeowners are enjoying the best financial fitness.

Suggesting a strong correlation between homeownership and financial fitness, 65% of homeowners pay off their credit card balances each month, compared to 48% non-homeowners, according to a survey sponsored by Genworth Financial Mortgage Insurance Company Canada.

“Homeownership is an achievable goal for those who are prepared,” said Peter Vukanovich, president and chief operating officer of Genworth Financial Canada. “Homeownership helps people focus on their financial situation and get their fiscal house in order.”

The financial fitness survey, conducted in conjunction with the Canadian Association of Credit Counselling Services (CACCS), says 25% of those homeowners with mortgages have managed to make a lump sum payment or accelerate their mortgage payments in the past year. Almost half (44%) of homeowners paid all of their bills and saved some money during the same period.

“A mortgage is easier to manage when people have good personal finance skills,” says Henrietta Ross, chief executive officer of CACCS. “But there is room to improve personal finance skills for many Canadians.”

Other findings of the survey include 49% homeowners made down payments of 20% or more, and 12% homeowners requested a credit report in the past 12 months.

(07/21/10)