europe-eurozone

First Asset Investment Management has introduced the First Asset Hamilton Capital European Bank ETF.

The fund’s objective is to seek long-term, total returns consisting of capital appreciation and regular dividend income. The portfolio will consist primarily of equity securities of European banks, and Hamilton Capital Partners will actively manage the fund.

“The economic backdrop in Europe is poised to improve over the next few years, so there are many reasons to like the banking sector,” says said Robert Wessel, managing partner of Hamilton Capital Partners.

“European banks are in the early stages of a credit-driven recovery in profitability,” he adds, “which, combined with significant improvements in balance sheet strength of the sector, should support a multi-year recovery in share prices.”

The fund’s closed the initial offering of its units. The units, available in common and advisor class, will begin trading on the TSX today. Also, the ETF will be denominated in Canadian dollars.

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Originally published on Advisor.ca

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