CIBC Asset Management Inc. has expanded its ETF suite to give investors more low-risk options to navigate the uncertain market environment.
The actively managed CIBC Premium Cash Management ETF (TSX: CCAD), CIBC USD Premium Cash Management ETF (TSX: CUSD.U), and CIBC Canadian Government Long-Term Bond ETF (TSX: CALB) began trading on Wednesday.
“We developed these ETFs to address a clear interest from the market,” said Greg Gipson, managing director and head of ETFs with CIBC Global Asset Management, in a release.
“Our new CIBC ETFs are designed to provide secure and yield-enhancing cash solutions, and a robust long-term income solution. Our experienced team brings a disciplined approach to risk management, ensuring investors have the tools they need to build resilient portfolios, regardless of market conditions.”
CCAD invests primarily in investment-grade Canadian money market securities, such as treasury bills issued by Canadian governments, bankers’ acceptances of Canadian chartered banks and commercial paper of Canadian corporations. It has a 0.12% management fee.
CUSD.U invested primarily in high quality, short-term fixed-income securities denominated in U.S. dollars. The fund also has a 0.12% management fee.
Meanwhile, CALB invests primarily in longer-dated, fixed-income securities of Canadian government issuers. It has a 0.2% management fee.
Purpose adds crypto ETFs
Purpose Investments Inc. expanded its cryptocurrency product offerings on Thursday with the launch of two new ETFs.
The new Purpose Core Bitcoin ETF (TSX: BTCO.B, BTCO.U) and Purpose Core Ether ETF (TSX: ETHO.B, ETHO.U) provide direct exposure to bitcoin and ether, respectively, “without premium features such as CAD-hedged units, multiple custodians, or listed options,” a release said.
As well, the Purpose Core Ether ETF will stake up to 50% of its ether holdings. Staking is part of a process that validates transactions and helps to secure blockchain networks like Ethereum and Solana. Users earn rewards in return for helping to secure the network, but investors should note that staking comes with some risks including liquidity constraints and slashing risks.
The new ETFs each have a 0.29% management fee, making them some of the most competitively priced crypto ETFs listed in Canada.
Empire Life introduces four new seg funds
Empire Life Insurance Co. (Empire Life) has rolled out four new segregated funds, the company announced Monday.
The new funds include the Empire Life Fidelity Global Income Portfolio GIF, the Empire Life Fidelity Global Growth GIF, Empire Life Fidelity Insights GIF and Empire Life Fidelity Multi-Asset Innovation GIF.
All four funds feature underlying funds from Fidelity Investments Canada ULC, a release said.
The Empire Life Fidelity Global Income Portfolio GIF and Empire Life Fidelity Global Growth GIF give investors varying exposures to a diversified portfolio of equities, fixed-income and alternative investments to help them manage risk and navigate economic downturns.
Meanwhile, the Empire Life Fidelity Insights GIF primarily invests in the Fidelity Insights Investment Trust, which is a differentiated, actively managed U.S. equity fund. It seeks to give investors access to “transformational growth opportunities with long-term compounding potential,” a fund document said.
And the Empire Life Fidelity Multi-Asset Innovation GIF is a balanced fund that invests in units of the Fidelity Multi-Asset Innovation Fund. It combines a global equity strategy designed “to capitalize on innovation-driven opportunities” with a multi-sector fixed-income approach “aimed at managing risk and mitigating volatility,” another fund document said.
BMO expands its CDR lineup
Bank of Montreal (BMO) has listed five new Canadian depository receipts (CDRs) on Cboe Canada.
Launched Thursday, the new CDRs allow investors to hold shares in companies from Spain, the Netherlands and Japan on a Canadian exchange in Canadian dollars, mitigating currency risk.
The new CDRs include:
- Spain’s Banco Bilbao Vizcaya Argentaria, S.A. (Cboe: BBVA), Banco Santander, S.A. (Cboe: BSAN) and Industria de Diseño Textil, S.A. (Cboe: ZARA)
- The Netherlands’ ING Groep N.V. (Cboe: INGG)
- Japan’s Canon Inc. (Cboe: CANO)
According to BMO’s website, the bank now has 34 CDRs in total.
The launches come soon after Canadian Imperial Bank of Commerce rolled out 15 new CDRs, bringing its total CDR count to 101.
Ninepoint announces new mutual fund series, risk rating change for infrastructure fund
Ninepoint Partners LP (Ninepoint) is gearing up to launch four new mutual fund series of the Ninepoint Crypto and AI Leaders ETF (TSX: TKN), the firm announced Thursday.
Subject to regulatory approval, the new series (series S, SF, A and F) will be available in both Canadian and U.S. dollar purchase options.
In a release, Ninepoint said offering the mutual fund series will provide Canadian financial advisors with additional flexibility and accessibility when building client portfolios.
“This also allows for easier integration with pre-authorized contribution plans, systematic withdrawal plans, and dollar-cost averaging strategies — tools that many advisors rely on to help clients build wealth over time,” the release said.
The Ninepoint Crypto and AI Leaders ETF invests in a diversified portfolio comprised primarily of equity and equity-related securities of companies that give investors exposure to emerging blockchain technologies, AI-powered solutions and crypto innovations.
The new mutual fund series of the fund are set to be available for purchase on or about May 21.
The management fee will be 1.7% for series A, 1.35% for series S, 0.7% for series F and 0.35% for series SF.
Also on Thursday, Ninepoint said it changed the risk rating for the Ninepoint Global Infrastructure Fund from “low to medium” to “medium.” No changes will be made to the investment objectives or strategies of the fund as a result.
Northleaf infrastructure fund garners $2.6B
Northleaf Capital Partners (Northleaf) has closed its latest infrastructure fund at a hard cap of US$2.6 billion after it surpassed its target of US$2.25 billion.
Available to institutional investors, the Northleaf Infrastructure Capital Partners IV fund was the firm’s largest infrastructure investment fund to date. It invested in contracted mid-market assets in targeted sub-sectors, primarily in North America, a release said.
Headquartered in Toronto, Northleaf has raised more than US$28 billion in private equity, private credit and infrastructure commitments from public, corporate and multi-employer pension plans, endowments, foundations, financial institutions and family offices.
The global investment management firm has offices in Toronto, Chicago, London, Los Angeles, Melbourne, Menlo Park, Montreal, New York, Seoul and Tokyo.
Franklin Templeton reduces fees for certain mutual funds
Franklin Templeton Canada has made fee reductions of up to 70 basis points across multiple series of mutual funds, the firm announced Thursday.
In a release, the firm said the changes reflect its “ongoing commitment to offering competitive fees and enhancing value for investors.”
A full breakdown of the fund reductions is available here.
The fee reductions are slated to take effect June 1.
Canada Life announces several fund changes
Canada Life Investment Management Ltd. (CLIML) has announced upcoming fund mergers and an investment objective change.
Below is a breakdown of the fund mergers:
- Canada Life Global Multi-Sector Fixed Income Fund will be terminated and its continuing fund will be the Canada Life Global Multi-Sector Bond Fund
- Canada Life Emerging Markets Equity Fund will be terminated and its continuing fund will be the Canada Life Emerging Markets Large Cap Equity Fund
- Counsel U.S. Value and Counsel International Value will be terminated and their continuing fund will be the Counsel Global Dividend
- Counsel Retirement Preservation Portfolio will be terminated and its continuing fund will be the Counsel Conservative Portfolio
- Counsel Retirement Foundation Portfolio will be terminated and its continuing fund will be the Counsel Balanced Portfolio
- Counsel Retirement Accumulation Portfolio will be terminated and its continuing fund will be the Counsel Growth Portfolio
Investors approved those changes at meetings held last Monday.
Investors also approved an investment objective change for the Canada Life Global Low Volatility Fund, “which will now have a more diversified approach and focus on investing in equity securities of high-quality companies from around the world that offer above-average growth prospects,” a release said.
In addition, the fund will be renamed Canada Life Global Equity Fund, its investment strategies will be changed to align with the new investment objective, and Mackenzie Financial Corp. is to replace Irish Life Investment Managers Ltd. as sub-advisor for the fund.
Accordingly, the fund’s risk rating will change from “low to medium” to “medium.”
The changes are expected to happen on or about May 23.