Barclays Global Investors Canada announced that five new iShares funds began trading on the Toronto Stock Exchange today.
The five new iShares funds are the:
- iShares CDN Value Index Fund (XCV);
- iShares CDN Growth Index Fund (XCG);
- iShares CDN Long Bond Index Fund (XLB);
- iShares CDN Government Bond Index Fund (XGB); and
- iShares CDN Corporate Bond Index Fund (XCB)
.
“Investors asked us for iShares funds which provide exposure to more segments of the Canadian bond market and to value and growth characteristics in the Canadian equity market, and we’re pleased to satisfy these investor needs with the launch of these new iShares funds,” said Rajiv Silgardo, CEO of Barclays Canada, in a news release.
The investment objectives of XLB, XGB and XCB are to provide income by replicating, to the extent possible, the performance of the Scotia Capital Long Term Bond Index, the Scotia Capital All Government Bond Index and the Scotia Capital All Corporate Bond Index respectively, net of expenses.
In combination with the three existing iShares fixed income funds, these new iShares fixed income funds allow investors to express their views on the Canadian bond market in anticipation of changes in interest rates, credit spreads or other significant market events.
The investment objectives of XCV and XCG are to provide long-term capital growth by replicating, to the extent possible, the performance of the Dow Jones Canada Select Value Index and the Dow Jones Canada Select Growth Index respectively, net of expenses.
XCV and XCG will allow investors to more precisely target their portfolios to growth and value characteristics and more quickly and efficiently implement changes to portfolio style in anticipation of changing market environments.