{"id":459605,"date":"2023-02-01T15:41:17","date_gmt":"2023-02-01T20:41:17","guid":{"rendered":"https:\/\/www.investmentexecutive.com\/?p=459605"},"modified":"2023-02-01T15:41:17","modified_gmt":"2023-02-01T20:41:17","slug":"whats-new-from-fund-manufacturers-15","status":"publish","type":"post","link":"https:\/\/www.investmentexecutive.com\/news\/products\/whats-new-from-fund-manufacturers-15\/","title":{"rendered":"What\u2019s new from fund manufacturers"},"content":{"rendered":"<p><em>Investment Executive<\/em> regularly lists notable developments in Canada\u2019s investment product landscape. Here are some newly released funds.<\/p>\n<ul>\n<li><strong>IG Wealth Management<\/strong> launched three target-date mutual funds intended for RESP accounts. The IG Target Education Portfolio 2030, 2035 and 2040 have different time horizons, depending on when the clients\u2019 children expect to start post-secondary studies. Sub-advised by BlackRock, the portfolios invest primarily in investment funds, gradually shifting the asset mix from equities to fixed income, money market and cash-equivalent as the target date approaches. Once a fund matures, its assets go into the IG Graduation Portfolio, sub-advised by Mackenzie Investments and designed to produce income and preserve capital. Management fees are 0.55%, 0.58% and 0.60% for the 2030, 2035 and 2040 portfolios, respectively. All three have a low to medium risk rating.<\/li>\n<li><strong>BMO Asset Management Inc.<\/strong> introduced new sector-based equity ETFs and passive U.S. fixed-income ETFs that it says will help mitigate risk with covered calls and offer inflation protection.\n<ul>\n<li>The BMO Covered Call Energy ETF (TSX: ZWEN) invests in energy firms, including clean energy. The management fee is 0.65% and the risk rating is high.<\/li>\n<li>The BMO Covered Call Health Care ETF (TSX: ZWHC) invests in health care companies. The management fee is 0.65% and the risk rating is medium.<\/li>\n<li>The BMO Global Agriculture ETF (TSX: ZEAT) invests in agricultural firms including chemicals, farm machinery, food distribution and packaging. The management fee is 0.35% and the risk rating is medium.<\/li>\n<li>The BMO US Aggregate Bond Index ETF (TSX: ZUAG) tracks the Bloomberg US Aggregate Bond Index, which includes government and corporate bonds, mortgage-backed securities and others. The hedged and U.S. dollar units trade as ZUAG.F and ZUAG.U respectively. The management fee is 0.08% and the risk rating is low to medium.<\/li>\n<li>The BMO US TIPS Index ETF (TSX: TIPS) tracks the Bloomberg US Treasury Inflation-Linked Bond Index (Series-L), whose bonds have at least a year to maturity. The hedged and U.S. dollar units trade as TIPS.F and TIPS.U respectively. The management fee is 0.15% and the risk rating is low to medium.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Fidelity Investments Canada ULC<\/strong> has released a U.S. large-cap equity fund with put options. The Fidelity SmartHedge U.S. Equity Fund, launched on Jan. 25, aims &#8220;to balance risk while offering potential for savings to grow, helping to support investor resiliency during challenging conditions,&#8221; said Kelly Creelman, senior vice-president, products and marketing with Fidelity, in a release. The fund invests mainly in U.S. stocks with market caps similar to firms in the S&amp;P 500, managing downside risk with a ladder of put options. The management fee is 0.7% for Series F and the risk rating is medium.<\/li>\n<li><strong>Counsel Portfolio Services Inc.<\/strong> is offering a gross rate of 4.75% on its new cash deposit product, the IPC High Interest Savings Fund, launched on Jan. 30. Effective rates, as of the launch date, were 4.47% for Series A and 4.58% for Series F, I and C, while the actual rate varies according to the prevailing interest rate. &#8220;When ready, investors have the flexibility to return to the markets systematically,&#8221; Counsel vice-president of product management Blair Setford said in a release. The fund is not insured by the Canada Deposit Insurance Corporation.<\/li>\n<li><strong>Russell Investments Canada Limited<\/strong> has added tax management features to two of its existing funds as of Jan. 3. The Russell Investments Tax-Managed Global Equity Pool (started in 2013 as the Russell Investments Focused Global Equity pool), and the Russell Investments Tax-Managed US Equity Pool (started in 2011 as the Russell Investments Focused US Equity Pool) now use methods such as tax-loss harvesting, reducing offsetting trades, reducing portfolio turnover and seeking tax-efficient equities, Russell said in a release on Jan. 31. Management fees for both are 0.9% for Series F. The risk rating is medium.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>New products include target-date RESP funds, covered calls and high-interest savings<\/p>\n","protected":false},"author":180694,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2312,2315],"tags":[36184,2368,2427,2756],"yst_prominent_words":[7656,48895,38143,23828,14066,13648,12858,7833],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/459605"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/180694"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=459605"}],"version-history":[{"count":4,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/459605\/revisions"}],"predecessor-version":[{"id":459647,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/459605\/revisions\/459647"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=459605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=459605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=459605"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=459605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}