Grand opening, cutting red ribbon

Tangerine Investment Management Inc. is expanding its fund lineup with the launch of three funds that provide investors with global exposure through packages of ETFs wrapped in a mutual fund.

The company launched a trio of global ETF portfolios offering three basic strategies — equity growth, balanced growth and balanced — that will invest in a variety of index ETFs.

The offering joins Tangerine’s existing portfolio funds that launched in 2008.

The new family of no-load funds charges an annual management fee of 50 basis points and a fixed administration fee of 15 bps, and pays a 40 bps trailer.

The funds’ portfolio manager is 1832 Asset Management LP — which, like Tangerine, is owned by the Bank of Nova Scotia.