Toronto-based Picton Mahoney Asset Management (Picton Investments) says it’s launching its first private equity fund.
According to a release issued Monday, the Picton Morningside Private Equity Fund is set to be available to Canadian accredited investors sometime this month.
The open-ended fund focuses on so-called “trophy asset” general partner-led secondary investments, which Picton Investments described in the release as “a highly selective segment of the private equity market characterized by mature, high-quality companies with established operating histories and meaningful remaining value-creation potential.”
It added that the strategy “will seek to capture private equity alpha, driven by underwriting discipline, asset quality and manager selectivity rather than broad market private equity exposure.”
Morningside Capital Inc. will lead private equity investment sourcing and underwriting for the fund, while Picton Investments will manage its liquid investments, the release noted.
CI GAM introduces asset-allocation funds with exposure to gold, bitcoin
Toronto-headquartered CI Global Asset Management (CI GAM) has introduced two new asset-allocation funds — with a non-traditional asset twist.
Launched Jan. 27, the funds invest in a mix of fixed-income and/or equity ETFs managed by CI GAM and other providers to produce portfolios that are diversified across geographic regions, asset classes and sectors. They also feature allocations to ETFs invested in non-traditional asset classes, namely bitcoin and gold bullion.
The CI Balanced+ Asset Allocation ETF Fund features an allocation of approximately 57% equity securities, 38% fixed-income securities and 5% in other assets, “including but not limited to digital assets and/or commodities,” the release noted. It currently has a target allocation of 2.5% each in gold and bitcoin. The fund has a low-to-medium risk rating.
CI Equity+ Asset Allocation ETF Fund features an allocation of roughly 92% equity securities and 8% in other assets, which also includes but is not limited to digital assets and/or commodities. It currently has a target allocation of 4%, each in gold and bitcoin. The fund has a medium risk rating.
The CI Balanced+ Asset Allocation ETF Fund and CI Equity+ Asset Allocation ETF Fund are available in ETF series units, listed on the TSX under the ticker symbols CBAP and CEQP, respectively. They’re also available in mutual fund series A, F, I and P units.
CI GAM is waiving or reducing the funds’ fees until June 30, 2026. More details are available here.
Sun Life rolls out ETF series for ‘low volatility’ funds
SLGI Asset Management Inc. (Sun Life Global Investments) has launched two new ETF series for existing mutual funds.
An ETF series is now available for the SLGI MFS Blended Research Low Vol Global Fund on the TSX under the ticker symbol SBLG, while an ETF series is available for the SLGI MFS Blended Research Low Vol International Fund under the ticker symbol SBLI.
The ETF series have a 0.5% management fee.
The funds were also renamed on Jan. 12 to “better reflect the proprietary blended research approach used by Sun Life Global Investments’ sub-advisor, MFS Investment Management,” a release said.
The Sun Life MFS Low Volatility Global Equity Fund was renamed the SLGI MFS Blended Research Low Vol Global Fund, while the Sun Life MFS Low Volatility International Equity Fund was renamed SLGI MFS Blended Research Low Vol International Fund.
First Trust launches nuclear power ETF
FT Portfolios Canada Co. (First Trust Canada) has launched a new ETF that invests in companies exposed to nuclear power.
The First Trust Bloomberg Nuclear Power ETF (TSX: RCTR) began trading on Jan. 19. It has a 0.85% management fee.
The fund seeks to replicate, to the extent possible, the performance of the Bloomberg Nuclear Power Index, net of expenses. It will provide exposure to the index by holding securities of First Trust Bloomberg Nuclear Power ETF, a U.S.-listed index ETF managed by an affiliate of First Trust Canada.
The First Trust Bloomberg Nuclear Power ETF invests in “the building, growth and sustainability of nuclear energy production,” specifically in power generation, uranium, equipment and engineering, procurement and construction, especially as global demand for power generation and energy consumption outstrips supply, said Nilesh Patel, head of distribution at First Trust Canada, in a release.
Its top five holdings include Cameco Corp.; Doosan Enerbility Co., Ltd.; Mitsubishi Heavy Industries, Ltd.; BHP Group Limited; and BWX Technologies, Inc.
JPMAM launches international equity ETF
J.P. Morgan Asset Management Canada has launched a new actively managed international equity ETF.
The JPMorgan International Developed Equity Active ETF (TSX: JIDE), which began trading on Jan. 28, “responds to increasing demand from Canadian investors for diversification beyond domestic markets through actively managed strategies” and aims to provide investors with long-term capital growth, a release said.
It invests in large- and mid-cap stocks of companies primarily located in foreign developed markets with “attractive valuations and an improving outlook,” supported by J.P. Morgan’s global equity research, it noted.
Due to its active nature, its country, sector and currency exposures may be adjusted in response to changing market conditions.
The fund has a 0.55% management fee.
PIMCO’s got a new 60/40 fund
PIMCO Canada Corp. has launched a new asset-allocation fund with a diversified 60/40 portfolio that provides a mix of exposure to global equity funds and actively managed fixed-income funds.
Announced Jan. 26, the new PIMCO Managed Balanced Portfolio will allocate 60% to passive global equity ETFs across developed and emerging markets, and 40% to PIMCO actively managed fixed-income funds.
The fund is now available in ETF series units on the TSX under the ticker symbol PBAL. It’s also available in mutual fund series units.
The fund is managed by a team of portfolio managers at PIMCO including Emmanuel Sharef, executive vice-president; Erin Browne, managing director; and Vinayak Seshasayee, executive vice-president.
Fidelity’s new fund seeks to adapt to changing markets
Fidelity Investments Canada ULC has launched a new global equity fund with a long/short strategy that it says will help navigate various market conditions.
Launched Jan. 29, the Fidelity Global Opportunities Long/Short Fund is available in mutual fund and ETF series units.
The fund, which invests across geographical regions, sectors and market caps, is managed by Fidelity portfolio managers Max Adelson and Nicolas Bellemare.
Leveraging Fidelity’s global research network, the fund “blends long and short positions to help navigate a range of market conditions,” a release said.
A proposed new mining fund
Next Edge Capital Corp. says it’s filed a preliminary prospectus to launch a fund that would invest mainly in flow-through shares of mining companies.
The proposed CMP Next Edge 2026 Critical and Precious Metals Short Duration Flow-Through LP could also invest in additional securities in the mining sector if they meet the fund’s risk-reward characteristics, as set out in the preliminary prospectus, a release noted.
If approved, the fund would be offered in series F units to fee-based and/or institutional accounts and in series A units to all investors, at a price of $25 per unit.
Montreal-based Palos Wealth Management Inc., which has experience in the small-cap mining sector, would act as the fund’s portfolio manager. The wealth and investment management firm has participated in more than 200 private placement junior mining deals since 2016, the release noted.
RBC GAM closing fund
RBC Global Asset Management Inc. (RBC GAM) will soon terminate the RBC QUBE Low Volatility Emerging Markets Equity Fund.
The fund’s expected to be terminated on or about March 30, 2026, and is closed to purchases as of Jan. 28.
In a release, RBC GAM said it decided to close the fund due to its “limited growth potential.”
Investors in the fund have the option of redeeming or switching their holdings in the fund until market close on March 27, 2026. Remaining units will be redeemed, with their proceeds distributed to unitholders.
Unitholders will receive a notice regarding the fund termination. They’re encouraged to contact their advisor to discuss the fund termination and their investment options.
Multiple firms make changes to funds
Multiple firms have announced changes to their fund lineups.
PICTON Investments said it’s discontinuing the performance fees for three mutual funds, effective on or about Jan. 30. Performance fees will no longer be charged on each class of units of the PICTON Global Equity Fund, PICTON Income Fund and PICTON Balanced Fund. “The change is being made to align the fee structures within the PICTON conventional mutual fund lineup,” a release said, noting that no action is required from investors.
On or about April 1, SLGI Asset Management Inc. (Sun Life Global Investments) said State Street Global Advisors, Ltd. will take over as the new sub-advisor of the Sun Life BlackRock Canadian Composite Equity Fund and Sun Life BlackRock Canadian Universe Bond Fund, replacing BlackRock Asset Management Canada Limited and BlackRock Institutional Trust Company, N.A.
As a result of the sub-advisor change, Sun Life Global Investments is changing the name of the Sun Life BlackRock Canadian Composite Equity Fund to Sun Life State Street Canadian Equity Index Fund. The Sun Life BlackRock Canadian Universe Bond Fund will be renamed Sun Life Safe Street Canadian Bond Index Fund. The funds’ investment objectives and strategies will remain the same.
CIBC Asset Management Inc. said it’s changing the ticker symbol for the CIBC Active Investment Grade Floating Rate Bond ETF from CAFR to CFRN. This change will take effect when the TSX opens on Feb. 4. No other changes will be made to the fund.
Invesco Canada Ltd. has changed the risk rating for the Invesco NASDAQ Next Gen 100 Index ETF – CAD Hedged Series (TSX: QQJR.F) from medium to high. No further changes are being made to the fund.
BMO Asset Management Inc. (BMOAM) has reduced the annual management fee for select ETFs. Effective Jan. 23, the BMO Equal Weight Global Gold Index ETF (TSX: ZGD) and BMO Junior Gold Index ETF (TSX: ZJG) have had their management fees reduced to 0.4% from 0.55%, while the BMO Government Bond Index ETF (TSX: ZGB) saw its management fee reduced to 0.09% from 0.15%.
In addition to the fee reductions, BMOAM has updated the risk ratings of select funds after an annual review. A full breakdown of the changes is available here.