The Caisse de dépôt et placement du Québec and National Bank Monday announced their $30 million investment to create the XTF Morningstar National Bank Quebec Index ETF.
The Quebec ETF (TSX:QXM) began trading Monday along with two other XTF Morningstar Canada funds.
“This new fund, composed exclusively of Quebec securities, will be intended to promote the growth and recognition of Quebec-based companies both locally and in the international financial community,” explains Jean-Luc Gravel, executive vice president, equity ,arkets at the Caisse.
“This is the very first ETF to allow the individual and any other investor to be exposed to close to 60 Quebec-based companies —I n one single step,” says Laurent Ferreira, executive vice president and managing director, derivatives at National Bank.