First Asset adds to ETF offerings

Toronto-based First Asset Investment Management Inc. has launched two new exchange-traded funds (ETFs) that track indices based upon the proprietary factor methodology from Chicago-based Morningstar Inc. First Asset Morningstar International Value Index ETF and First Asset Morningstar International Momentum Index ETF are denominated in Canadian dollars (C$) and will be offered in C$-hedged and unhedged versions. First Asset Morningstar International Value Index ETF has been designed to replicate, to the extent possible and net of expenses, the performance of the Morningstar developed markets ex-North America target value index. First Asset Morningstar International Momentum Index ETF has been designed to replicate, to the extent possible and net of expenses, the performance of the Morningstar developed markets ex-North America target momentum index. These new ETFs represent the only international value and momentum strategies available in Canada, according to First Asset. The management fee is 0.60% for each ETF. The new funds bring First Asset’s shelf of ETF offerings to a total of 37.

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