Toronto-based Wealthsimple has a filed a preliminary prospectus for two socially responsible index ETFs, with Mackenzie Investments as the trustee and manager.
Mackenzie filed the documents Thursday on the robo-advisor’s behalf to list two ETFs on the Toronto Stock Exchange.
The Wealthsimple North America Socially Responsible Index ETF will invest primarily in Canadian and U.S. equities that don’t violate “commonly held social and environmental values,” the preliminary prospectus says.
The ETF will track the Solactive Wealthsimple North America Socially Responsible Factor index, with a management fee of 20 basis points.
The Wealthsimple Developed Markets ex North America Socially Responsible Index ETF will do the same for companies in Europe, Australasia and the Far East. It will track the Solactive Wealthsimple DM ex NA Socially Responsible Factor index, with a management fee of 25 basis points.
Earlier this week Wealthsimple launched a new spending account called Wealthsimple Cash. On Thursday, the robo-advisor announced the sale of its business-to-business platform, Wealthsimple for Advisors, to Purpose Advisor Solutions.