Advisor’s Edge regularly lists notable developments in Canada’s investment product landscape. Here are some newly released funds.
- Desjardins Global Asset Management Inc. has launched an active equity ETF for clients seeking a low correlation to traditional asset classes. The Desjardins Alt Long/Short Global Equity Markets ETF (TSX: DAMG), which began trading on Oct. 14, aims to control volatility by taking long or short positions on equity index futures, equity index ETFs and short-term debt. The management fee is 1.0% for both the Canadian ETF and its U.S. hedged version (TSX: DAMG.U). The risk rating is low to medium.
- Mackenzie Financial has a new fund for investors seeking a return from next-generation products and services. The Mackenzie Bluewater Next Gen Growth Fund, launched on Oct. 17, invests in issuers with strong cash flow and strong balance sheets that are “leading the charge on innovation within their industries,” said Tyler Hewlett, vice-president and portfolio manager with Mackenzie Financial, in a release. Management fees are 0.8% for series F and 2.0% for series A. The risk rating is medium.
- A U.S. hedged version of the Desjardins Alt Long/Short Equity Market Neutral ETF (TSX: DANC.U), which is designed to get a stable return in good and bad market conditions, began trading on Oct. 14. The active ETF, which has had a Canadian version since 2019, invests in pairs of securities, generally within the same sector, taking a long position on one and a short position on the other. The management fee is 1.0% and the risk rating is low.
- Purpose Investments Inc.’s Longevity Pension Fund is now available to employers providing defined contribution plans through retirement and benefits provider LifeWorks Inc. The structure of the fund is similar to that of a pension, with monthly lifetime distributions when the clients turn 65, but the mutual fund structure lets investors redeem and access unpaid capital. The annual income payment for clients born in 1954 through 1956 — initially targeted at 6.15% — is now 7.25%, Purpose said. The distribution level is not guaranteed. Telus Corp. closed its acquisition of LifeWorks, formerly known as Morneau Shepell, on Sept. 1.
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