Toronto-based First Asset Management Inc. announced the launch of two actively managed exchange-traded funds (ETF) on Tuesday.
The new First Asset Active Canadian REIT ETF will build a portfolio of Canadian real estate investment trusts (REIT) and real estate operating corporations which offer attractive yields, backed by predictable, recurring cash flow and are well-positioned for capital appreciation. The fund will be managed by Lee Goldman, senior vice president and portfolio manager, First Asset.
The First Asset Active Canadian Dividend ETF takes a fundamental approach to investing and places an emphasis on companies with sustainable, strong free cash flow, opportunity for dividend growth and poised for capital appreciation. Manash Goswami, portfolio manager, First Asset, is the lead manager for the fund.
Both ETFs have closed the initial offering of their units and the units, available in common and advisor class, will begin trading on the Toronto Stock Exchange on Tuesday. The ETFs will be denominated in Canadian dollars.