Franklin Templeton Canada has launched two new index-tracking ETFs: the Franklin U.S. Quality Moat Dividend Index ETF and the Franklin FTSE India Index ETF.
The Franklin U.S. Quality Moat Dividend Index ETF seeks to replicate the performance of the Morningstar U.S. Dividend Opportunity Index, with a management fee of 0.25%. It targets U.S. dividend-paying stocks.
The Franklin FTSE India Index ETF seeks to replicate the performance of the FTSE India RIC Capped Index by investing in the U.S.-listed Franklin FTSE India ETF. It consists of securities of large- and mid-capitalization Indian companies and carries a management fee of 0.19%.
Manulife launches global credit fund
Manulife Investments launched the Manulife CQS Multi Asset Credit Fund with its investment adviser, Manulife CQS Investment Management, a London-based alternative credit specialist.
The fund will invest mainly in global issuers’ credit-related instruments — corporate bonds, asset-backed securities, loans and convertible bonds, with a focus on developed markets.
CIBC to terminate several funds
CIBC announced it will terminate the CIBC 2025 Investment Grade Bond Fund and CIBC 2025 U.S. Investment Grade Bond Fund on Nov. 28, in line with the funds’ investment objectives.
CIBC will also terminate the CIBC Multi-Asset Global Balanced Private Pool, CIBC Multi-Asset Global Balanced Income Private Pool and Renaissance Optimal Inflation Opportunities Portfolio on or about Nov. 28, due to their relatively small asset size.
The Renaissance Diversified Income Fund will also see a risk-rating change from low to medium.
SLGI makes mutual fund changes
SLGI Asset Management will close the Sun Life JPMorgan International Equity Fund on Oct. 14 to streamline offerings for investors.
The sub-adviser of the infrastructure portion of Sun Life Real Assets Private Pool will change from Lazard Asset Management (Canada) Inc. to Cohen & Steers Capital Management Inc., effective Oct. 14. SLGI will also adjust the pool’s investment strategies to include exposure to physical commodities.
CI Global Asset Management launches six new products
CI Global Asset Management launched six new products within its CI Private Pools lineup, including three dual-series pools, also available as ETFs.
The CI Global Dividend Private Pool, CI U.S. Monthly Income Private Pool and CI U.S. Small/Mid Cap Equity Private Pool are available in Series A, F, I and as ETFs.
The CI Canadian Income & Growth Private Pool, CI Select Canadian Equity Private Pool and CI U.S. Stock Selection Private Pool are available in Series A, F and I.
The CI lineup now includes 22 private pools, eight of which are also offered as ETFs.
RBC fund changes
The RBC Target 2025 Education Fund will mature and be terminated on or about Nov. 21. Investors with outstanding units will receive RBC Canadian Money Market Fund units in exchange.
RBC will close its U.S. small-cap core, U.S. small-cap value, U.S. microcap core and U.S. microcap value investment strategies managed by RBC Global Asset Management (U.S.) Inc. in Boston.
RBC has also proposed merging the RBC U.S. Small-Cap Core Equity Fund and RBC U.S. Small-Cap Value Equity Fund into the RBC U.S. Mid-Cap Value Equity Fund on or about Nov. 21, subject to unitholder and other required approvals. The mergers are expected to be completed on a tax-deferred basis.
RBC will also adjust risk ratings on four funds: the RBC U.S. Mid-Cap Value Equity Fund and RBC Private U.S. Small-Cap Equity Pool will increase from medium to high; the RBC Global Bond Index ETF Fund will decrease from medium to low; and the BlueBay European High Yield Bond Fund (Canada) will decrease from medium to low.
Global X launches six new ETFs
Global X Investments Canada Inc. launched six new ETFs in its BetaPro by Global X suite, offering three-times and minus-three-times exposure to U.S. treasuries, semiconductors and the S&P/TSX 60 Index.
A 0.5% rebate on the new ETFs is offered until Dec. 31, making the effective management fee 0.65%, down from 1.15%.
The new products are the BetaPro 3x S&P/TSX 60 Daily Leveraged Bull Alternative ETF, BetaPro -3x S&P/TSX 60 Daily Leveraged Bear Alternative ETF, BetaPro 3x Semiconductor Daily Leveraged Bull Alternative ETF, BetaPro -3x Semiconductor Daily Leveraged Bear Alternative ETF, BetaPro 3x U.S. Treasury 20+ Year Daily Leveraged Bull Alternative ETF and BetaPro -3x U.S. Treasury 20+ Year Daily Leveraged Bear Alternative ETF.
Scotia Global Asset Management updates
Scotia Global Asset Management announced that Aristotle Capital Management LLC will be appointed sub-adviser for the Scotia Wealth U.S. Value Pool. Victory Capital Management Inc. will be appointed sub-adviser for the Scotia Wealth International Equity Pool. These changes are effective on or around Sept. 15.