Investment Executive regularly lists notable developments in Canada’s investment product landscape. Here is some recent product news:
- Sprott Asset Management LP’s ESG Gold ETF (SESG) began trading Aug. 2 on NYSE Arca. Launched in partnership with the Royal Canadian Mint, the Sprott ESG Gold ETF sources gold from mines that meet Sprott’s ESG screening criteria, such as greenhouse gas emissions, mine site remediation and worker safety. Initially the gold will be sourced from Toronto-based Agnico Eagle Mines Ltd. and Yamana Gold Inc. The ETF has a management fee of 0.38%. Because the fund is traded in the U.S., it does not have a risk rating.
- Evolve Funds Group Inc. plans to close its Dividend Stability Preferred Share Index ETF (TSX: PREF), the company announced July 27. Launched in September 2019, PREF seeks to replicate the performance of the Solactive Dividend Stability Canada Preferred Share index. Effective Aug. 16, no further direct subscriptions for units of the ETF will be accepted, and the ETF is expected to be delisted on or about Oct. 4.
- On July 28, TD Asset Management Inc. reduced management and administration fees on dozens of funds. In many cases, TDAM cut fees by five basis points, but some reductions are more substantial. For example, the TD Canadian Money Market Fund advisor series now has a management fee of 0.65%, down from 0.8%.
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