Evolve to launch FANGMA ETF this week

Evolve Funds Group Inc. has filed the final prospectus for the Evolve FANGMA Index ETF, which is expected to begin trading on the Toronto Stock Exchange this Thursday.

In a release, Evolve said the new fund will offer exposure to six “technology titans” — Alphabet Inc., Amazon Inc., Apple Inc., Facebook Inc., Netflix Inc., and Microsoft Corp. — by replicating the performance of the Solactive FANGMA Equal Weight Index.

“One of the numerous operational advantages of using this fund is the fact that investors can get exposure to these six companies for a $10 starting share price,” Raj Lala, president and CEO of Evolve, said in a statement. “This compares with investing over $7,000 at current market prices to purchase one share of each of these companies.”

The fund will be available in hedged and unhedged Canadian-dollar units, as well as unhedged U.S.-dollar units.

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