Manulife Investments, a division of Toronto-based Manulife Asset Management Ltd., announced that two new multifactor ETFs have closed their initial offering of units and began trading on the Toronto Stock Exchange on Monday.
The new ETFs, Manulife Multifactor Canadian SMID Cap Index ETF and Manulife Multifactor U.S. Small Cap Index ETF, are subadvised by Dimensional Fund Advisors Canada ULC, the Canadian subsidiary of Austin, Tex.-based global investment manager Dimensional Fund Advisors LP.
The new funds, which are both available in unhedged and hedged versions, join a suite of multifactor ETFs announced by Manulife earlier this year.
Management fees range between 0.50% and 0.60%.
“Manulife Investments is focused on creating a holistic suite of value-added investment products for Canadians,” says Bernard Letendre, president, Manulife Investments, in a statement. “These two new offerings to our ETF platform, managed by Dimensional Fund Advisors, helps move us closer to that goal.”
The indices that these ETFs are designed to track were developed by Dimensional, a pioneer of multifactor investing, using Dimensional’s proprietary Index Memory technique.
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