Investment Executive regularly lists notable developments in Canada’s investment product landscape. Here’s the latest news.
- CIBC has launched six new Canadian depositary receipts (CDRs) for large U.S. companies Boeing Co., Chevron Corp., Citigroup Inc., Exxon Mobil Corporation, Intel Corporation and Uber Technologies, Inc. The products, which are designed for clients wanting an affordable way to access foreign stocks while mitigating currency risk, started trading March 28 on the NEO exchange. This brings to 41 the number of CIBC CDRs trading since it launched Amazon.com in 2021.
- BMO Investments Inc. launched new funds on March 29, including some that invest mainly in existing ETFs.
- The BMO Global Energy Fund is for long-term investors seeking exposure to energy, alternative energy and related industries including fossil fuels, coal, uranium and wind power. Management fees are 1.8% for Series A and 0.8% for Series F. The risk rating is high.
- The BMO Greater China Fund provides exposure to companies in Mainland China, Hong Kong and Taiwan. With Polen Capital HK Limited as portfolio manager, the fund seeks companies that grow faster than market expectations, recover more rapidly, or benefit from economic or regulatory changes in a way not yet anticipated by other investors. Management fees are 1.8% for Series A and 0.8% for Series F. The risk rating is medium.
- The BMO Global Low Volatility ETF Fund invests mainly in ETFs that hold global equity and fixed income securities. Management fees are 1.35% for Series A and 0.35% for Series F. The risk rating is low to medium.
- The BMO Aggregate Bond ETF Fund, the BMO Corporate Bond ETF Fund and the BMO Premium Yield ETF Fund invest up to 100% of their assets in the existing BMO ETFs of the same name.
- The Horizons Emerging Markets Leaders ETF (TSX: HEMC), launched in 2021, will close on May 23. The 2022 return was negative 24% and the fund had $2.2 million in assets as of Feb. 28, Horizons ETFs Management (Canada) Inc. said in a securities filing.
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