Toronto-based Excel Funds Management Inc. has launched its first ETFs. Excel Global Balanced Asset Allocation ETF and Excel Global Growth Asset Allocation ETF began trading on the Toronto Stock Exchange (TSX) in May. The investment objective of Excel Global Balanced Asset Allocation ETF is to achieve an annual return of 2.5% more than the Bank of Canada’s overnight lending rate over a rolling two- to three-year period with a portfolio volatility target range of approximately 4%-6%. Excel Global Growth Asset Allocation ETF’s objective is to achieve an annual return in excess of 5% of the Bank of Canada’s overnight lending rate over a rolling five-year period with a portfolio volatility target range of approximately 8%-9%. These actively managed ETFs will use a risk-budgeting, quantitative, global diversification investment strategy developed by London-based Alken Asset Management Ltd., which will act as subadvisor. For more details, visit www.excelfunds.com.
(fcollie@investmentexecutive.com)
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