CIBC Global Asset Management has introduced three new Avantis CIBC ETFs.
- Avantis CIBC Balanced Asset Allocation ETF (TSX: CAKE) has a management fee of 0.28% and a low to medium risk rating.
- Avantis CIBC Growth Asset Allocation ETF (TSX: CAGR). It has a management fee of 0.28% and a low to medium risk rating.
- Avantis CIBC World Equity ETF (TSX: CAGX). It has a management fee of 0.28% and a medium risk rating.
CIBC first brought Avantis Investors funds to the Canadian market last fall, in partnership with the U.S.-based asset manager. They previously launched eight ETFs.
“We are pleased to introduce these new ETFs with Avantis Investors in one of the fastest-growing segments of the ETF market,” said Greg Gipson, managing director and head of ETFs at CIBC Global Asset Management, in a release. “Building on the success of CAGE, these additions enhance our lineup of actively managed asset-allocation ETFs and give investors more choice across a range of investment objectives and risk tolerances.”
Avantis Investors is owned by American Century Investments Inc.
BMO AM debuts asset-backed securities ETF
BMO Asset Management Inc. (BMOAM) has launched a new ETF offering exposure to asset-backed securities (ABS).
The BMO Asset-Backed Securities ETF is offered in Canadian dollar units (TSX: ZABS); hedged units (TSX: ZABS.F) and U.S. dollar units (TSX: ZABS.U).
The fund’s objective is to “provide income while at the same time preserving capital by investing, directly or indirectly, primarily in a diversified portfolio of asset-backed securities,” BMOAM said in a release.
It can invest in asset-backed securities of any kind, including consumer and commercial ABS, collateralized loan obligations and commercial and residential mortgage-backed securities. The fund has a maximum annual management fee of 0.45% and a low risk rating.
Coinbase launches crypto futures for Canadians
Coinbase has launched access to regulated derivatives contracts for eligible Canadian investors — high net worth and institutional.
The crypto platform announced this month that it would offer: 23 perpetual and dated futures for crypto assets such as bitcoin and ethereum; commodity futures, including gold, silver and oil; and crypto index futures such as the Coinbase 50 Index.
The derivatives are offered by Coinbase Global, Inc. subsidiary Coinbase Financial Markets, Inc., which is a registered futures commission merchant with the Commodity Futures Trading Commission.
Manulife Investment Management names new sub-advisors
Manulife Investment Management Ltd. has named new sub-advisors for two funds. Manulife | CQS (UK) LLP and Manulife | CQS (US), LLC are now subadvisors on its Manulife U.S. Unconstrained Bond Fund and Manulife Global Unconstrained Bond Fund. Portfolio managers Darren Toner and Tim Jarombek at Manulife | CQS Investment Management will be added as managers to both funds.
It’s also removing Manulife Investment Management (Singapore) Pte. and Manulife Investment Management (Hong Kong) Ltd. as subadvisors on the Manulife Global Strategic Balanced Yield Fund.