Product Watch

Toronto-based Horizons ETFs Management (Canada) Inc. has added a second marijuana ETF to its product shelf. Horizons Emerging Marijuana Growers Index ETF is designed to replicate, to the extent possible, the emerging marijuana growers index. This index is meant to provide exposure to a basket of primarily small-cap companies’ stocks that are listed in North America. These companies focus on the cultivation, production or distribution of marijuana. Stocks must have a market cap greater than $50 million, but less than $500 million, for initial inclusion in the index. The ETF has a management fee of 0.85%.

New ETFs from AGF

Toronto-based AGF Investments Inc. has announced the launch of two factor-based ETFs. AGFiQ Enhanced Global ESG Factors ETF invests in global equities that have a strong environmental, social and governance profile when a quantitative, active investment approach is used. AGFiQ Enhanced Global Infrastructure ETF invests primarily in global equities in the infrastructure industry and related sectors – such as telecommunications, utilities, energy and transportation – by using a quantitative, multi-factor investment approach. AGFiQ Asset Management manages both ETFs, which have management fees of 0.45%.

Evolve launches weed-based ETF

A new marijuana ETF now is available from Toronto-based Evolve Funds Group Inc. Evolve Marijuana ETF is meant to offer investors long-term capital appreciation by investing actively in a mix of the equities of issuers involved in the marijuana industry. The ETF may invest in companies listed domestically and globally that have business activities in the recreational and medical marijuana industries.

New portfolios from Vanguard

Toronto-based Vanguard Investments Canada Inc. has launched three “single ticket” ETFs. These ETF portfolios are designed to provide investors with broad diversification and global exposure through a single product. Vanguard Conservative ETF Portfolio, for example, invests in equities and fixed-income securities – with an allocation of 40% equities and 60% fixed-income – with the goal of providing investors with a combination of income and moderate long-term capital growth. Vanguard Balanced ETF Portfolio is meant to provide investors with long-term capital growth with a moderate level of income by investing in equities and fixed-income securities with an allocation of 60% equities and 40% fixed-income. Finally, Vanguard Growth ETF Portfolio invests in equities and fixed-income securities, with a strategic allocation of 80% equities and 20% fixed-income. All three ETF portfolios have a management fee of 0.22%.

Sun Life and Excel cut fees

Toronto-based Sun Life Global Investments (Canada) Inc. and Excel Funds Managements Inc. are reducing the fees for several Excel-branded mutual funds. The fee reductions, effective Feb. 28, include management fees, trailing commissions and deferred sales charges. These changes are a result of Sun Life’s acquisition of Excel, which was completed in January. The management fees of both A-class and F-class units of five funds have been reduced. For example, the management fee for A-class units of Excel New India Leaders Fund has dropped to 2.05% from 2.50%. As well, the management fee for A-class units of Excel Emerging Markets Balanced Fund has dropped to 1.90% from 2.15%. Similarly, the management fee for F-class units of Excel India Fund has dropped to 1.05% from 1.50%. And the management fee for F-class units of Excel High Income Fund has dropped to 0.90% from 0.95%. Sun Life and Excel also announced changes to the trailing commissions, sales charges and redemption schedule for some funds. For details regarding these changes, visit sunlifeglobalinestments.com.

(fcollie@invetmentexecutive.com)