Market month: Fund news and updates

Fund news from Global X, Capital International, Dynamic, BMO, Empire Life, iA Clarington

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Fund news

Global X launches nine new ETFs

Global X Investments Canada Inc. on Nov. 7 announced the addition of nine new ETFs in its existing thematic suites: Best of Canada ETFs, Premium Yield ETFs, Equity Essentials, and Sector Equity ETF

Three ETFs are the initial entrants into Global X’s Best of Canada ETF suite, which offers exposure to major Canadian sectors, including Telecommunications, Insurance as well as Groceries and Staples, and the largest companies that lead them.  

• Global X Equal Weight Canadian Telecommunications Index ETF (TSX: RING)
• Global X Equal Weight Canadian Groceries & Staples Index ETF (TSX: MART)
• Global X Equal Weight Canadian Insurance Index ETF (TSX: SAFE)

Two ETFs are additions to Global X’s Premium Yield suite, which are designed to help investors seek to maximize their monthly income potential above what is typically offered by U.S. Treasury and Canadian government fixed income securities through the application of an active options management overlay.

• Global X Mid-Term Government Bond Premium Yield ETF  (TSX: PAYM)
• Global X Long-Term Government Bond Premium Yield ETF (TSX: PAYL)

In addition, Global X is also launching new ETFs within its existing Equity Essentials and Sector Equity suites.

• Global X Russell 2000 Index ETF (Cboe Canada: RSSX)
• Global X Russell 2000 Covered Call ETF (Cboe Canada: RSCC)
• Global X Equal Weight Canadian Oil & Gas Index ETF (TSX: NRGY)
• Global X Gold Producers Index ETF (TSX: GLDX)

Capital International (Canada) debuts four ETFs

Capital International Asset Management (Canada) on Oct. 24 announced its first suite of active exchange traded funds (ETFs). In a release, Capital International stated that the suite of four ETFs will benefit from the low fees, fundamental research process, long-term investment approach, and multimanager investment system.

• Capital Group Global Equity Select ETF (Canada) (TSX: CAPG) invests primarily in common stocks, including growth-oriented stocks, on a global basis. Future income is a secondary objective.
• Capital Group International Equity Select ETF (Canada) (TSX: CAPI) holds a portfolio consisting primarily of securities of large-capitalization issuers located outside North America.
• Capital Group Multi-Sector Income Select ETF (Canada) (TSX: CAPM) aims for current income through investments primarily in a broad range of bonds and other debt securities. The fund’s secondary objective is capital appreciation.
• Capital Group World Bond Select ETF (Canada) (TSX: CAPW) holds bonds and other debts securities of global issuers. Total return comprises the income generated by the fund and the changes in the market value of the fund’s investments.

Dynamic launches two new fixed-income ETFs

Dynamic Funds on Oct. 31 debuted two new actively-managed bond ETFs:

Dynamic Active Bond ETF (TSX: DXBB) aims for income while preserving capital through investment in an actively managed and diversified portfolio of primarily North American government and corporate fixed income securities.

Dynamic Active Corporate Bond ETF (TSX: DXCB) seeks to provide income and the potential for long-term capital appreciation by investing in an actively-managed and diversified portfolio of primarily investment-grade corporate fixed-income securities.

BMO launches MSCI EAFE ETF

BMO Asset Management Inc. on Oct. 29 announced a new MSCI EAFE index ETF.

BMO MSCI EAFE High Quality Index ETF (TSX: ZIQ) has been designed to replicate, to the extent possible, the performance of the MSCI EAFE Quality Index, net of expenses. The fund invests in large- and mid-capitalization issuers across developed market countries, excluding Canada and the U.S., while screening for high return on equity (ROE), stable year over-year earnings growth, and low financial leverage. The manager may use a sampling methodology in selecting investments for the fund. The fund may also invest in or hold securities intended to replicate the performance of the index.

Empire Life launches new seg funds

The Empire Life Insurance Company on Oct. 28 announced six new segregated funds under its Guaranteed Investment Fund (GIF) contract.

Empire Life Vanguard ETF Portfolio GIFs. A new suite of segregated fund ETFs portfolios powered by Vanguard Investments:

• Empire Life Vanguard Conservative Income ETF Portfolio GIF
• Empire Life Vanguard Conservative ETF Portfolio GIF
• Empire Life Vanguard Balanced ETF Portfolio GIF
• Empire Life Vanguard Growth ETF Portfolio GIF

Empire Life American Growth GIF. Managed by Ashley Misquitta, Investment Strategist and Senior Portfolio Manager at Empire Life Investments Inc., the fund will provide exposure to some of the most innovative sectors of the U.S. market while maintaining an eye on quality and downside protection.

Empire Life Purpose Global Bond GIF invests in the Purpose Global Bond ETF, which is sub-advised by Neuberger Berman, offers investors greater global fixed income diversification and the opportunity for capital appreciation as interest rates continue to shift.

IFIC releases September fund industry statistics

The Investment Funds Institute of Canada (IFIC) on Oct. 22 announced investment fund net sales and net assets for September 2024.

Mutual fund assets totalled $2.186 trillion at the end of September, up by $40.5 billion, or 1.9%, since August. Mutual fund net sales were $0.8 billion in September.

ETF assets totalled $478.5 billion at the end of September, up by $14.5 billion, or 3.1%, since August. ETF net sales were $5.5 billion in September.

September insights

• Mutual fund net sales remained positive each month during the last quarter and were positive in five of the nine months this year.
• The majority of inflows were in the bond fund category, although these sales were partially offset by outflows from the balanced and equity categories. Bond fund sales have been positive every month this year.
• ETF assets have increased by $96.5 billion, or 25.3%, year to date. This growth was driven equally by inflows and positive market effect.

To view the full report, please visit the IFIC website.

iA Clarington launches global total return income fund

IA Clarington Investments Inc. on Oct. 7 debuted its new IA Clarington Agile Global Total Return Income Fund, sub-advised by Dan Janis, Chief Investment Officer, Agile Investment Management, LLC and his team. Employing an active approach that combines top-down, bottom-up and quantitative analysis, the fund aims for enhanced diversification from a broad opportunity set, tactical flexibility to take advantage of opportunities, and currency and duration management to help manage risk and add alpha potential.

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