Briefly: Russell announces new portfolio and more news

Russell Investments Canada Ltd. (Russell Canada) announced its launch of the Russell Enhanced Canadian Growth and Income Portfolio today.

Currently, the portfolio strategically invests 60% in Canadian equities and 40% in fixed income. This asset allocation may be adjusted in the future, depending on how the markets change, to maximize potential returns using Russell’s Enhanced Asset Allocation (EAA) model.

“[EAA] is designed to seek improved returns for clients by purposely tilting the Portfolio to take advantage of Russell’s insights into the current relative valuation of asset classes, while still managing risk and liquidity,” said Greg Nott, portfolio manager for Russell Canada.

The Portfolio allows investors to chose from a variety of monthly distribution options between 0% and 7%.

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OSC makes decision on clearing agencies

The Ontario Securities Commission (OSC) announced today in a staff memo that as of March 1, 2011, all clearing agencies in Ontario will need to be recognized by the OSC or obtain an exemption.

“In helping to facilitate securities transactions, clearing agencies play an important role in protecting investors and enhancing the efficiency of the capital markets,” said Susan Greenglass, director of market regulation for the OSC. “The new mandatory recognition requirement for clearing agencies will provide the tools necessary to impose requirements on all entities that perform this critical role.”

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Date changes for some BMO ETFs

BMO Financial Group has announced that changes to certain BMO Exchange-Traded Funds announced on March 24 are to take place after the markets close on April 30.

Changes are being made to three BMO Exchange-Traded Funds. The BMO China Equity Hedged to CAD ETF is to be benchmarked to the BNY Mellon China Select ADR Index CAD Hedged. The BMO India Equity Hedged to CAD ETF is to be benchmarked to the BNY Mellon India Select DR Index CAD Hedged. Finally, the BMO High Yield US Corporate Bond Hedged CAD ETF will be benchmarked to the U.S. High Yield Very Liquid Index CAD Hedged.

Unhedged versions of these funds will not be affected.

(04/06/10)

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.