The Canadian ETF Association (CETFA) reports that Vanguard Investments Canada Inc. and Equity Financial Trust Company, both based in Toronto, have joined the association.

The national body of exchange traded fund (ETF) providers, which aims to educate Canadians on ETFs and promotes best practices in the industry, has been gradually growing its member base since it launched in May 2011.

Vanguard joins as the association’s newest member firm. The subsidiary of The Vanguard Group, Inc. entered the Canadian market in December 2011, with the listing of six ETFs on the Toronto Stock Exchange.

“Vanguard is pleased to be joining the CETFA,” said Atul Tiwari, managing director of Vanguard Investments Canada. “In Canada, ETFs are becoming a low-cost investment vehicle of choice. Canadian-listed ETF assets have more than doubled since 2008. We believe that growth will continue, and with it the need to work through challenges and opportunities facing ETFs, as well as the need to educate investors about ETFs.”

Vanguard joins five other member firms: Horizons Exchange Traded Funds, Blackrock Asset Management Canada Ltd., BMO Asset Management Inc., First Asset Exchange Traded Funds and RBC Global Asset Management, all based in Toronto.

Vanguard will fill one of the managing director positions on the association’s board, and will participate equally with existing members in all operational and policy matters within CETFA.

Equity Financial Trust Company, a supplier of transfer agent services to the ETF community, joins the association as an affiliate member. The association has 10 affiliate members in total, which do not sit on the board of directors, but participate on its committees and offer input on CETFA policy direction.

“In our partnership with CETFA, we are committed to leveraging Equity’s experience to help drive innovation and growth of the EFT market in Canada,” said Richard Rohan, vice president of corporate sales at Equity Financial Trust Company.

“With their participation, we have really strengthened the knowledge base and experience that the CETFA has to be able to impact the Canadian investment landscape,” said Howard Atkinson, the current chairman of the Canadian ETF Association.