Toronto-based BMO Asset Management Inc. will launch four new exchange-traded funds on Tuesday. The ETFs will begin trading on the Toronto Stock Exchange at 9:30 ET.
The new funds are meant to reach a growing demand of investors. “In today’s financial environment where the markets are constantly changing, people are looking for investment products that can keep pace with these changes,” said Kevin Gopaul, chief investment officer and senior vice president, BMO Asset Management, “and we had that in mind when expanding and evolving our lineup.”
The new funds include:
BMO S&P/TSX Laddered Preferred Share Index ETF
Designed to reduce interest rate sensitivity compared to the preferred share market by using rate resets. It also provides investors with portfolio diversification and tax-efficient dividend income.
BMO S&P/TSX Equal Weight Industrials Index ETF
This is the first ETF in Canada that offers investors access to the TSX industrials sector.
BMO S&P/TSX Equal Weight Global Gold Index ETF
This ETF provides equal-weighted exposure to global gold companies.
BMO S&P 500 Index ETF
This ETF allows investors to access the U.S. equities market with exposure to U.S. currency movement, purchased either with Canadian or U.S. dollars.
These additions bring BMO Asset Management’s ETF offering to 48 funds.
The indices supporting the laddered and equal weight ETFs were launched Monday.