Toronto-based CIBC Asset Management Inc. has launched two actively managed global equity ETFs.
The CIBC Global Growth ETF invests primarily in a portfolio of equity securities with high valuations and growth prospects. The companies can be located anywhere in the world. Exposure to these securities will come mainly through investments in the Renaissance Global Growth Fund, which is sub-advised by London-based Walter Scott & Partners Ltd.
The CIBC International Equity ETF invests primarily in companies in Europe, the Far East and the Pacific Rim. The fund is meant to offer investors access to international opportunities that are not readily available in Canada or the U.S. The ETF will invest primarily in units of the Renaissance International Equity Fund, which is also sub-advised by Walter Scott & Partners.
Management fees for the funds are 0.85%.
The ETFs trade on the Toronto Stock Exchange.