Product roundup: What’s new from fund manufacturers

Advisor.ca regularly lists notable developments in Canada’s investment product landscape. Here are some newly released funds.

• Invesco Canada Ltd. launched five passive ETFs on Thursday that are intended to put “an ESG tilt on a dividend income strategy,” said Pat Chiefalo, Invesco’s senior vice-president and head of ETFs and index strategies, Canada, in a release. The products are the first in a partnership announced in October in which NEI Investments provides responsible investing oversight.
  • The Invesco S&P/TSX Canadian Dividend Aristocrats ESG Index ETF (TSX: ICAE), which tracks the S&P/TSX Canadian ESG Dividend Aristocrats FMC Weighted Index, invests in Canadian dividend-paying stocks with an ESG mandate. The management fee is 0.2% and the risk rating is medium.
  • The Invesco S&P US Dividend Aristocrats ESG Index ETF (CAD Units) (TSX: IUAE), which tracks the S&P ESG High Yield Dividend Aristocrats FMC Weighted Index, invests in U.S.-listed stocks whose dividends increased at least 20 years in a row. The management fee is 0.3% and the risk rating is medium. The CAD Hedged version trades as IUAE.F.
  • The Invesco S&P International Developed Dividend Aristocrats ESG Index ETF (CAD Units) (TSX: IIAE), which tracks the S&P International Developed Ex-North America & Korea ESG Dividend Aristocrats FMC Weighted Index, buys stocks in developed markets in Europe, the Middle East, Africa, and Asia Pacific (other than Korea) that have maintained or raised dividends at least 10 years in a row. The management fee is 0.35% and the risk rating is medium. The CAD Hedged version trades as IIAE.F.
• CI Global Asset Management launched five covered-call funds, including a utilities-sector ETF, along with mutual fund versions of existing CI large-cap sector ETFs. All funds mitigate downside risk by selling options with the right to buy the stock at a fixed price for a fixed term.
  • For investors looking for a reliable income stream with defensive characteristics, the CI Utilities Giants Covered Call ETF (TSX: CUTL), which holds stocks in at least 20 large North American-listed utility companies — including electrical, gas and water — began trading on Tuesday. The management fee is 0.65% and the risk rating is medium.
  • The following sector-specific mutual funds, which invest in previously released ETFs, are available as of Tuesday:
    • CI Canadian Banks Covered Call Income Corporate Class (the existing ETF trades under the CIC ticker), with management fees of 1.65% for Series A and 0.65% for Series F and a medium risk rating.
    • CI Energy Giants Covered Call Fund (the existing ETF trades under the NXF ticker), with management fees of 1.6% for Series A and 0.6% for Series F and a medium risk rating.
    • CI Gold+ Giants Covered Call Fund (the existing ETF trades under the CGXF ticker), with management fees of 1.6% for Series A and 0.6% for Series F, and a high risk rating.
    • CI Tech Giants Covered Call Fund (the existing ETF trades under the RT ticker), with management fees of 1.6% for Series A and 0.6% for Series F, and a medium to high risk rating.
• Bridgehouse Asset Managers has launched the T. Rowe Price Global Allocation Fund, formerly known as the Morningstar Balanced Portfolio, in Canada, for clients looking for long-term capital appreciation and income by investing globally in stocks, bonds and alternatives. Fees are 1.7% for Series A and 0.7% for Series F. The risk rating is low to medium. The fund was launched in 2017 but T. Rowe Price has replaced Morningstar as the sub-advisor and the investment objective changed last month.

If you would like us to consider your launch, email Greg Meckbach at greg@newcom.ca.