The Canadian exchange-traded fund (ETF) market just became a little more crowded with the entrance of Toronto-based WisdomTree Asset Management Canada Inc.
The new ETF provider, a subsidiary of New York-based Wisdom Tree Investments Inc., will be led by Raj Lala, former executive vice president of retail markets at Montreal-based Fiera Capital Corp. Lara Misner is the firm’s chief compliance officer and comes to the company from Toronto-based Purpose Investments Inc., where she held the same title.
“Canada represents an exciting opportunity for WisdomTree,” said Jonathan Steinberg, president and CEO of the U.S. parent company in a statement released Friday.”As a pure-play ETF provider, WisdomTree sees great potential to help grow the ETF market and to deliver our innovative and highly differentiated products to Canadian investors. We look forward to entering Canada, working with the financial community and offering new ETF choices to Canadians.”
The firm’s initial set of ETFs, which will track Canadian-dollar based indices, are:
> WisdomTree International Quality Dividend Growth Index CAD;
> WisdomTree Europe CAD-Hedged Equity Index;
> WisdomTree U.S. Quality Dividend Growth Index CAD;
> and WisdomTree U.S. High Dividend Index CAD.
WisdomTree, which also has European and Japanese subsidiaries, holds $45 billion in assets under management globally.It offers ETFs and exchange-traded products that cover equities, fixed-income, currencies, commodities and alternative strategies.
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