New ETF provides exposure to global currency markets

Horizons Global Currency Opportunities ETF gives access to a market that has traditionally been institutional only and untapped by retail clients investors

By: Tessie Sanci
July 19, 2016 October 15, 2019
12:40

Toronto-based Horizons ETFs Management (Canada) Inc. and its affiliate, AlphaPro Management Inc., have launched a new actively managed exchange-traded fund (ETF) that provides investors with long exposure to worldwide currency markets.

Horizons Global Currency Opportunities ETF gives investors access to a currency market that is worth $5.3 trillion, according to the firm’s announcement released on Tuesday.

“Despite being the largest and most liquid market in the world, the global currency market has traditionally been institutional only and is largely untapped by Canadian retail investors — very few have the financial resources or expertise to access it directly,” states a fact sheet for the new product on Horizons ETFs’ website.

Toronto-based CIBC Asset Management Inc., the ETF’s subadvisor, will use an integrated quantitative and qualitative investment process that includes the firm’s own ranking of 32 currencies and fundamental country research in order to determine which currency exposures to hold in the portfolio.

Horizons Global Currency Opportunities ETF is currently trading on the Toronto Stock Exchange.

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