Toronto-based First Asset Investment Management Inc. has announced that U.S. dollar units of First Asset Investment Grade Bond ETF commenced trading on the Toronto Stock Exchange on Tuesday.
Canadian dollar units of the ETF, which is managed actively by Marret Asset Management Inc., have been available since August 2016.
First Asset Investment Grade Bond ETF aims to provide exposure to a high-quality, diversified mix of investment grade corporate bonds from issuers in Canada, the U.S. and Europe.
The ETF’s investment objectives are to provide unitholders with monthly cash distributions and to maximize total returns for unitholders consisting primarily of monthly distributions while reducing risk and preserving capital. Under normal market conditions, the ETF will be invested primarily in investment-grade bonds and other investment-grade debt securities.