Recent investment product news

Advisor’s Edge regularly lists notable developments in Canada’s investment product landscape. Here’s the latest:

• Harvest Portfolios Group Inc.‘s Canadian Equity Income Leaders ETF (TSX: HLIF) began trading June 13. It’s an equal-weight portfolio of stocks from 30 large-cap Canadian issuers. The ETF tracks “dividend-paying Canadian companies with oligopolistic market share,” Harvest said in a release. The risk rating is medium and the management fee is 0.65%.
• Vanguard Investments Canada Inc. migrated three ETFs to the NEO Exchange from the Toronto Stock Exchange on June 22. Ticker symbols are unchanged. The ETFs are:
  • Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged), NEO:VBU;
  • Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged),  NEO:VBG; and
  • Vanguard Global Aggregate Bond Index ETF (CAD-hedged), NEO:VGAB.
• SLGI Asset Management Inc. plans to launch the Sun Life Crescent Specialty Credit Private Pool on July 18. That pool will include bank loans, high-yield bonds and narrowly syndicated credit. The pool is designed for “attractive yield potential, principal preservation and protection against inflation/rising interest rates,” Sun Life said in a release. All series will have a fixed monthly distribution. Management fees for series A and F are 1.25% and 0.75%, respectively, and the risk rating is low-to-medium, a spokesperson wrote in an e-mail.
• BMO Investments Inc. launched four funds May 27, the bank announced earlier this month.
  • The BMO Global Enhanced Income Fund is a mutual fund trust that invests mostly in global equity ETFs that are higher yielding than the broader equity market. Management fees are 1.55% for series A and 0.55% for series F.
  • The BMO U.S. Corporate Bond Fund invests primarily in U.S.-dollar-denominated investment-grade bonds, but can also invest in non-investment grade debt. Management fees are 0.85% for series A and 0.35% for series F.
  • The BMO Canadian Banks ETF Fund is a mutual fund version of the BMO Equal Weight Banks Index ETF. Management fees 1.25% for series A and 0.25% for series F.
  • The BMO Global Quality ETF Fund is a mutual fund version of the BMO MSCI All Country World High Quality Index ETF. Management fees are 1.45% for series A and 0.45% for series F.
  • The risk rating is low for the corporate bond fund and medium for the other three.
• Two new bond funds from CIBC launched May 6, the bank announced earlier this month. The CIBC Diversified Fixed Income Fund invests primarily in units of the PIMCO Monthly Income Fund (Canada). Management fees are 1.25% for series A and 0.75% for series F. The CIBC Diversified Fixed Income Fund uses a multi-sector approach and targets “multiple sources of income from a global opportunity set,” CIBC said in a release. Meanwhile, the CIBC Global Credit Fund will invest in non-Canadian investment grade credit and high-yield and emerging-market bonds, among others. Management fees are 1.25% for series A and 0.75% for series F. The risk rating for both funds is low.

Staff

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