Toronto-based Aequitas NEO Exchange Inc. announced Wednesday that Toronto-based Redwood Asset Management Inc., a wholly owned subsidiary of Purpose Investments Inc., has received final approval from NEO and Canadian securities regulators to introduce Redwood Emerging Markets Dividend ETF. The ETF commenced trading today on NEO under the ticker REM.
“This ETF is designed to provide investors with exposure to the long-term growth of emerging markets, in a strategy that mitigates volatility and provides current income,” says Peter Shippen, president and chief executive officer of Redwood, in a statement.
This isn’t the first time that Redwood has chosen NEO as its listing exchange to launch new funds. The Redwood Emerging Markets Dividend ETF now brings the total number of Redwood ETFs on NEO to seven. Neo is host to 16 funds in total, consisting of 34 different symbols from five ETF providers.