LeCanadian

Top Menu

  • Login
  • Archives
  • Les Actualités
  • Advertising
  • Sexy Pages
  • Contact Us

Main Menu

  • Home
  • Business
  • Entertainment
  • Foodie
  • Headline
  • Health
  • Editorials
  • Lifestyle
  • Sports
  • UFO · Exopolitics
  • City
  • Sexuality
  • Dating
  • Login
  • Archives
  • Les Actualités
  • Advertising
  • Sexy Pages
  • Contact Us

logo

Header Banner

LeCanadian

  • Home
  • Business
  • Entertainment
  • Foodie
  • Headline
  • Health
  • Editorials
  • Lifestyle
  • Sports
  • UFO · Exopolitics
  • City
  • Sexuality
  • Dating
  • How Canadians can access online casinos through mobile phones

  • Comment gérer un retard de vol ?

  • 5 ways sudoku boosts brain health

  • 10 tips to successfully market your law firm

  • 7 Amazing Gifts for Kids Who Like to Cook

Business
Home›Business›CIBC Makes Maiden Foray Into Canadian ETF Market with Global Currency Fund

CIBC Makes Maiden Foray Into Canadian ETF Market with Global Currency Fund

By admin
September 16, 2016
2072
0
Share:

A fund aimed at opening the currency market to retail investors will bring Canadian Imperial Bank of Commerce into Canada’s exchange-traded fund industry for the first time.

Horizons ETFs Management Canada Inc. hired CIBC’s Asset Management unit to sub-advise on its Horizons Global Currency Opportunities ETF, an actively managed fund which begins trading July 19 in Toronto under the ticker HGC. The ETF will use financial instruments such as futures and forward contracts to invest in more than 30 global currencies with an emphasis on short-term securities to deliver absolute returns.

“Active currency management has been an area of focus for us over the last number of years,” David Scandiffio, chief executive officer of CIBC Asset Management, said by phone from Toronto. The bank, Canada’s fifth-largest lender by assets, doesn’t currently sell any of its own ETFs. “We wanted an efficient way to deliver that active strategy to retail investors.”

There are now about 16 ETF providers in Canada, with almost $103 billion in assets under mnagement, according to June 30 data from the Canadian ETF Association. Toronto-Dominion Bank, the nation’s second-largest lender, filed with regulators earlier this year to re-enter the ETF marketplace after exiting a decade ago, joining new entrants including Mackenzie Investments, AGF Management Ltd. and CI Financial Corp. WisdomTree Investments Inc. announced July 14 it entered the Canadian marketplace with six ETFs that give investors exposure to U.S., European and international equities.

Scandiffio declined to say if this partnership will lead to CIBC marketing its own ETFs. The lender is in “ongoing discussions” with a number of providers, including Horizons, looking at further products or partnerships, he said.

“Never say never, in terms of launching or creating ETFs,” he said. “Certainly we are always looking for efficient and effective ways to deliver mandates to our investors.”

“The $5.3 trillion currency market is one of the largest asset classes in the world and, as we’ve seen clearly over the last two years, FX has the potential to significantly impact returns,” Steve Hawkins, co-chief executive officer of Horizons, said in a statement.

CIBC Asset Management has about $110 billion in assets. Toronto-based Horizons has more than $6 billion in assets under management and 73 ETFs listed on the TSX, according to the company.

Read More..

Post Views: 2,292
Previous Article

EVERYTHING IS RIGGED: Medicine, Science, Elections, the ...

Next Article

Podcast: Peter Schiff on Brexit’s Impact on ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • Business

    New Reese’s cups, Kit Kats sweeten Hershey’s results

    October 31, 2016
    By admin
  • Business

    The Ugly Truth Behind the U.K.’s Push for a ‘Hard Brexit’: Olive

    October 18, 2016
    By admin
  • Business

    Cracks in real estate market fail to rattle Canada’s big banks

    December 11, 2020
    By admin
  • Business

    US Election Results Will Have Little to no Effect on Trade Relations with Canada: Olive

    November 5, 2016
    By admin
  • Business

    Who’s hiring in Canada?

    February 26, 2021
    By admin
  • Business

    ‘Pretty Disgusting’: Urbancorp Restructuring Leaves Hundreds of Hopeful Homeowners in Limbo

    July 19, 2016
    By admin

Featured Petition

  • Bell Baker’s John Summers – Stop a Crime Against Humanity – What would his Mother think?
  • John E Summers: Ottawa Lawyer Attacks Motherhood and Civil Rights – Support His Disbarment
  • Stop Ottawa Lawyer John Summers’, Marcella Carby-Samuels’ & David Tenenbaum’s Ab
  • Week
  • Month

Week

Sorry. No data so far.

Month

Sorry. No data so far.

Popular on The Le Canadian

  1. AgoraCosmopolitan
  2. Ottawa Market
  3. Agora Publishing Consortium
  4. Le Journal Canadien
  5. Dominion: Food News
  6. LeCanadian.com
  7. The Ottawa Star
  8. Capitalistocracy.com
  9. Agora Books Author House
  10. First Nations Press
  11. The Etiquette Show
  12. Ontario People's Front





Mark's



Recent Posts

  • How Canadians can access online casinos through mobile phones
  • Comment gérer un retard de vol ?
  • 5 ways sudoku boosts brain health
  • 10 tips to successfully market your law firm
  • 7 Amazing Gifts for Kids Who Like to Cook
  • Make Mortgage Overpayments Work for You
  • Son shares warning for immunocompromised after fully-vaccinated Tampa Bay dad dies from COVID-19
  • Catching Covid-19 after being vaccinated isn’t a myth. It happened to me
  • My COVID Story: “I got COVID after being fully vaccinated”
  • Albertans fully vaccinated for COVID-19 urged to stay cautious during pandemic’s 4th wave

Most Viewed Posts

No Posts found

Visitors

  • Home
  • Business
  • Entertainment
  • Foodie
  • Headline
  • Health
  • Editorials
  • Lifestyle
  • Sports
  • UFO · Exopolitics
  • City
  • Sexuality
  • Dating