An evergreen private credit strategy from BlackRock Inc. is now available to accredited investors in Canada through the iCapital platform.
The new offering is available in both Canadian-dollar-hedged and U.S.-dollar-denominated options.
It allows Canadian wealth managers and their accredited investor clients to access BlackRock’s private credit strategy through a Canadian investment vehicle for the first time ever, a release said on Thursday.
The newly created Canadian product has received an initial investment from Westcourt Capital, though terms of the investment were not made public.
BlackRock’s private credit strategy focuses on directly originated senior secured loans and seeks to provide investors with enhanced yield and capital preservation “through robust collateral and covenant protections,” the release noted.
Firms offer ETF series for existing funds
Manulife Investments, Ninepoint Partners LP and Fidelity Investments Canada ULC have introduced ETF series for existing mutual funds. Fidelity has also launched two new products, available in both mutual fund and ETF series.
Manulife launched an ETF series for its Manulife Global Equity Class fund on Cboe Canada on Wednesday. Its ticker symbol is MGEQ. The ETF series has a 0.72% management fee and a medium risk rating.
The Manulife Global Equity Class fund is sub-advised by Mawer Investment Management and provides investors with exposure to a diversified global equity portfolio that aims to be resilient in a variety of different market environments.
For its part, Ninepoint launched an ETF series for an existing mutual fund that invests in companies across the global metals and mining sector.
The ETF series of the Ninepoint Mining Evolution Fund (TSX: NMNG) began trading on Oct. 8. It has a 1% management fee and high risk rating.
The actively managed fund seeks to achieve long-term capital growth. It provides investors with exposure to a range of companies across the full mining lifecycle, including established producers, emerging developers and early-stage explorers, a release said.
Meanwhile, Fidelity Investments Canada ULC has launched two new funds along with ETF series of existing mutual funds.
The new funds include:
- Fidelity Global Small-Mid Cap Equity Fund, available in mutual fund and ETF series (TSX: FGSM), which aims to achieve long-term capital growth. It invests primarily in equity securities of medium-, small- and micro-capitalization companies across the world. It has a medium risk rating. Its ETF series has a 0.85% management fee.
- Fidelity Multi-Alt Equity Fund, available in mutual fund and ETF series (TSX: FMAE), which aims to achieve long-term capital appreciation as well as lower overall portfolio volatility and reduced correlation to equity markets. It’s the firm’s first multi-strategy liquid alternative fund and has a low to medium risk rating. Its ETF series has a 1.1% management fee.
The new ETF series of existing portfolios include:
- Fidelity Global Income Portfolio – ETF Series (TSX: FMPI), which provides investors with exposure to a mix of 60% fixed-income and money market instruments and 40% equities. It has a 0.7% management fee and low to medium risk rating.
- Fidelity Global Balanced Portfolio – ETF Series (TSX: FMPB), which provides investors with exposure to a mix of 60% equities and 40% fixed-income and money market instruments. It has a 0.8% management fee and low to medium risk rating.
- Fidelity Global Growth Portfolio – ETF Series (TSX: FMPG), which provides investors with exposure to a mix of 85% equities and 15% fixed-income and money market instruments. It has a 0.85% management fee and low to medium risk rating.
3iQ, Further partner to launch digital asset hedge fund
3iQ Corp. and Further Asset Management Holdings Ltd have entered a strategic partnership to launch a digital asset multi-strategy hedge fund designed for institutional and sophisticated investors, the companies announced on Thursday.
The partnership brings together 3iQ’s infrastructure and expertise in institutional-grade digital asset solutions and Further’s knowledge of the digital asset and blockchain ecosystems, a release said.
Drawing on 3iQ’s Digital Assets Managed Account Platform, the companies aim to provide institutional and sophisticated investors with access to digital assets, while overcoming barriers associated with these investments such as custody concerns, operational complexity and volatility.
BMO grows its CDR lineup
Bank of Montreal (BMO) has added to its lineup of Canadian Depository Receipts (CDRs).
The new CDRs in provide investors with exposure to the following U.S. companies:
- Common shares of Advanced Micro Devices, Inc. (Cboe: ZAMD)
- Common shares of Alphabet Inc. (Cboe: ZGOO)
- Class C capital shares of Amazon.com, Inc. (Cboe: ZAMZ)
- Common shares of NVIDIA Corp. (Cboe: ZNVD)
- Common shares of Tesla, Inc. (Cboe: ZTSL)
CDRs allow Canadian investors to purchase shares of international companies in Canadian dollars, minimizing currency risk in their portfolios.
PFSL revises ‘incorrect’ fund performance reports
PFSL Fund Management Ltd. says it’s revising its interim performance reports for several Primerica funds after it “inadvertently included incorrect information” about the products.
The affected funds include:
- Primerica Global Equity Fund
- Primerica Canadian Balanced Growth Fund
- Primerica Global Balanced Growth Fund
- Primerica Balanced Yield Fund
- Primerica Income Fund
In a release Friday, PFSL said it filed revised “interim management reports of fund performance” for the period ended June 30, 2025 for the five funds.
“The filing is intended to correct the previously filed ‘December 2024’ historical performance information in the bar chart under the heading ‘Year-By-Year Returns,’ which inadvertently included incorrect information,” the release said.
PFSL noted that the information has been corrected and will be available on sedarplus.ca as well as on its own website, pfslfunds.primerica.ca.