Canadian-dollar hedged units and unhedged units of the ETF began trading on the TSX on Friday
Toronto-based First Asset Investment Management Inc. has announced that the initial offering of units for First Asset MSCI International Low Risk Weighted ETF has closed.
Canadian-dollar hedged units and unhedged units of the ETF began trading on the Toronto Stock Exchange on Friday.
“This new ETF allows advisors to participate in the growing opportunity set available within the international equities market in a manner that seeks to minimize both volatility and the impacts of market drawdowns,” says Rohit Mehta, president of First Asset, in a statement.
The ETF, excluding unhedged units, aims to duplicate the performance of the MSCI EAFE risk-weighted top 175 index hedged to CAD, net of expenses. As for the unhedged units, the ETF aims to replicate the performance of the MSCI EAFE risk-weighted top 175 index, net of expenses.
Both of these MSCI indices are derived from the traditional market capitalization-weighted parent index, the MSCI EAFE index, which contains large and mid-cap stocks within developed markets outside of North America.
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