Various product changes were announced in recent releases.
On Tuesday, Horizons ETFs Management Inc. said it plans to merge its Morningstar Hedge Fund Index ETF (HHF) into the Horizons ReSolve Adaptive Asset Allocation ETF (HRAA) before the end of this year, subject to approval.
HRAA seeks long-term capital appreciation by investing in major global asset classes such as equity and fixed-income indexes, as well as interest rates, commodities and currencies, a release said.
Merging HHF into HRAA will provide shareholders with “the opportunity to continue their investment in an ETF that is in continuous distribution, will have a larger market capitalization and that will benefit from the active management of HRAA’s subadvisor, ReSolve Asset Management Inc.,” the release said.
No new subscriptions for shares of HHF will generally be accepted.
IA Clarington Investments Inc. announced on Tuesday that Clément Gignac, who has served as chief economist and first vice-president, diversified funds, for iA Investment Management Inc. (iAIM), will no longer be the portfolio manager for several mandates because of his recent Senate appointment.
Sébastien Mc Mahon is interim chief economist and will continue as a portfolio manager on the funds, working with Tej Rai, iAIM’s head of asset allocation, a release said.
Portfolio changes were also announced for the iA Clarington Global Value Fund, including Jean-Pierre Chevalier, senior portfolio manager with iAIM, assuming lead asset allocation responsibilities; and Sébastien Vaillancourt, director of innovation and senior portfolio manager of quantitative strategies with iAIM, assuming responsibility for the Europe, Australasia and Far East portion of the fund.
Finally, Desjardins Investments Inc. is reducing management fees for several mutual funds, effective Oct. 1, the firm said in a release on Wednesday.