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Products

Four actively managed, fixed-income ETFs begin trading on the Toronto Stock Exchange

By Tessie Sanci |

Toronto-based Mackenzie Financial Corp. launched its first suite of exchange-traded funds (ETF) on Tuesday.

The four actively managed, fixed-income ETFs are currently trading on the Toronto Stock Exchange.

"This is a good day for Canadians who are seeking financial success and confidence through a variety of investment solutions. Our active ETFs extend our commitment to bring the best offerings to advisors and help them meet investors' needs," says Jeff Carney, president and CEO of Mackenzie Investments, though a statement released Tuesday. "These ETFs provide the innovation you would expect from Mackenzie Investments in a product that delivers our asset management expertise to a broader audience."

The firm's announcement suggests that the market will not have to wait too long for Mackenzie's ETF lineup to expand.

"By launching the Mackenzie ETFs, we are delivering solutions to investors and advisors that offer the benefits of portfolio manager expertise plus structural benefits not available in other investment vehicles," says Michael Cooke, senior vice president and head of ETFs at Mackenzie Investments, in a statement. "We look forward to sharing our next launch in the near future."

The four products being launched today are:

> Mackenzie Core Plus Global Fixed Income ETF, which seeks to generate income, with an emphasis on capital preservation, by investing primarily in investment-grade fixed income securities denominated in Canadian or foreign currencies that are issued by companies or governments.

> Mackenzie Unconstrained Bond ETF, which seeks to provide a positive total return over a market cycle, regardless of market conditions, by investing primarily in fixed income securities of issuers anywhere in the world and in derivative instruments.

> Mackenzie Floating Rate Income ETF, which seeks to generate current income by investing primarily in floating rate debt instruments and/or high yield debt securities of issuers located anywhere in the world.

> Mackenzie Core Plus Canadian Fixed Income ETF, which seeks to provide a steady flow of income by investing primarily in investment-grade Canadian government and corporate fixed income instruments and asset-backed securities with maturities of more than one year.

The firm's fixed income team, led by Steve Locke, senior vice president and portfolio manager, will manage the ETFs.

Mackenzie initially announced its plans to enter the ETF market at an investor day presentation hosted by its parent company, Winnipeg-based IGM Financial Inc., in November 2015.

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