Advisor’s Edge regularly lists notable developments in Canada’s investment product landscape. Here is the latest:
- The Horizons Canadian Utility Services High Dividend Index ETF (TSX: UTIL) began trading Aug. 10. The ETF seeks to replicate the performance of the Solactive Canadian Utility Services High Dividend Index and is designed to give clients exposure to the utilities, pipelines and telecommunications sectors, Horizons ETFs Management (Canada) Inc. said in a securities filing. The management fee is 0.50% and the risk rating is low.
- On Aug. 15, the management fee of the RBC Premium $U.S. Money Market Fund will drop five basis points, RBC Global Asset Management Inc. announced Aug. 10. Series A will have a fee of 0.30%, down from 0.35%. Series F will have a fee of 0.20%, down from 0.25%.
- Want to give your clients exposure to rental income? Evolve Funds Group Inc. filed a preliminary prospectus for the Evolve Slate Global Real Estate Enhanced Yield Fund (BILT). Sub-advised by Slate Securities L.P., BILT’s risk rating is medium and the management fee is 0.75%. The ETF would invest in shares of companies that get at least 50% of their value from operations like hotels, offices, residential, retail, industrial, gaming establishments and health care, among others, Evolve said in a securities filing.
- Evolve also filed a preliminary prospectus for its U.S. High Interest Savings Account Fund (HISU). The initial rate will be the Fed upper rate +0.20%, which currently totals 2.70%, a release said. The firm said it hasn’t set the fund’s management fees or risk rating, though that “should be low,” a spokesperson said. The fund will be available in unhedged ETF units and unhedged Class A, F and I mutual fund units.
- Harvest Portfolios Group Inc. filed preliminary prospectuses for six new ETFs.
- The Harvest ESG Equity Income Index ETF (TSX: HESG) will track the performance of the Solactive ESG U.S. Equity Index TR and write covered call options. The management fee is 0.65% and the risk rating is medium.
- The firm also plans to introduce five enhanced equity income ETFs, which are alternative funds that would use about 25% leverage to invest in existing Harvest ETFs. None of the enhanced versions will carry a management fee. The five enhanced funds are:
- The Harvest Canadian Equity Enhanced Income Leaders ETF (HLFE), with a medium risk rating.
- The Harvest Equal Weight Global Utilities Enhanced Income ETF (HUTE). The risk rating is medium.
- The Harvest Healthcare Leaders Enhanced Income ETF (HHLE). The risk rating is medium to high.
- The Harvest Brand Leaders Enhanced Income ETF (HBFE), which will have a risk rating of high.
- The Harvest Tech Achievers Enhanced Income ETF (HTAE). The risk rating is high.
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