FT Portfolios Canada Co. (First Trust Canada) has rolled out an investment fund “for a new era in the energy industry.”
The First Trust Nasdaq Clean Edge Smart Grid Infrastructure ETF (TSX: SGRD) launched April 20.
It seeks to track the performance of an index of companies that “are primarily engaged and involved in electric grid electric metres and devices, networks, energy storage and management, connected mobile and enabling software used by the smart grid and electric infrastructure sector,” a release said.
It’ll initially seek to replicate, to the extent possible and net of expenses, the performance of Nasdaq Clean Edge Smart Grid Infrastructure Index.
In the release, Nilesh Patel, head of distribution at First Trust Canada, said the fund’s launch comes at a time when electric grids are being replaced by more modern smart grids and “the demand for power will reach unprecedented levels.”
“The smart grid is a renovation of the electricity supply chain, which is designed to modernize how we produce, transport, use and store energy,” Patel said.
“It may transform the current electric power grid just as the internet revolutionized communications.”
The new fund has a 0.15% management fee and a medium-to-high risk rating.
Hamilton ETFs seeks to introduce a pair of ETFs
Hamilton Capital Partners Inc. (Hamilton ETFs) says it’s filed a preliminary prospectus to launch two new ETFs as part of its broader Yield Maximizer ETF lineup.
The proposed new ETFs include the Hamilton Canadian Equity Yield Maximizer ETF (proposed TSX ticker: CMAX) and Hamilton International Equity Yield Maximizer ETF (proposed TSX ticker: IMAX).
The former would aim to provide “attractive monthly income from a diversified portfolio of primarily covered-call ETFs, predominantly focused on Canada,” while the latter would seek to provide “attractive monthly income, from a portfolio primarily exposed to international equities” and employ a covered call option writing program, Hamilton ETFs said in a release.
CI GAM launches gold bullion mutual fund
CI Global Asset Management (CI GAM) has announced the launch of a gold bullion mutual fund, along with a name change and risk rating updates within its ETF lineup.
The CI Gold Bullion Fund, launched Tuesday, will invest all or most of its assets in the U.S.-dollar series of the CI Gold Bullion ETF (TSX: VALT.U). The underlying fund “holds substantially all of its assets in investment-grade gold bullion, which is securely stored in its custodian’s treasury vaults in London, England,” and received a 2025 LSEG Lipper Fund Award for the best ETF in the commodity category over a three-year period, a release said.
It’s now offered in mutual fund series A, AH, F, FH, I, IH, P and PH units. There’s a 1.105% management fee for series A and AH units, and 0.105% for Series F, FH, P and PH units. Series A, AH, F, FH, P and PH units also charge an administration fee of 0.05%.
The fund has a medium risk rating.
CI GAM also announced that the CI Global Alpha Innovation ETF (TSX: CINV, CINV.U) will be renamed CI Global Alpha Innovators ETF, effective on or about April 30.
Additionally, after a review of its fund lineup, the asset manager has updated some risk ratings in its ETF lineup.
The CI Global Alpha Innovation ETF (TSX: CINV, CINV.U) and CI Digital Security Index ETF (TSX: CBUG) have had their risk ratings changed to high from medium-to-high.
And the hedged common units of the CI U.S. Enhanced Momentum Index ETF (TSX: CMOM) have had their risk rating upped to medium-to-high from medium. The risk rating of the fund’s unhedged common units (TSX: CMOM.B) has not changed, remaining at medium.
CIBC GAM reopens fund to new investments, caps series of two other funds
CIBC Global Asset Management (CIBC GAM) says it will reopen the Renaissance U.S. Equity Fund to investors on or around April 30.
The fund seeks to provide investors with long-term capital growth by investing primarily in equity securities of companies listed on major U.S. exchanges and/or domiciled primarily in the U.S.
It was previously closed to all investments on Dec. 9, 2020, as part of a broader product lineup update.
Once the fund reopens to purchases from new and existing investors, its portfolio management responsibilities will be assumed by Emory W. (Sandy) Sanders, Jr., who has more than two decades of experience in equity portfolio management and has spearheaded flagship investment strategies at major North American investment firms. Sanders also currently leads the development and management of active U.S. equity strategies across market caps at CIBC Private Wealth Advisors, Inc., a release noted.
CIBC GAM said in the release that it “reserves the right to cap the fund or otherwise restrict investment into the fund at a later date.”
Separately, the asset manager announced it’ll be capping series A, F, O and S units of the CIBC 2026 Investment Grade Bond Fund and CIBC 2026 U.S. Investment Grade Bond Fund to all purchases on April 29.
At that point, these series of the funds will be closed to all purchases from existing and new unitholders. Investors in the capped series will still be able to redeem or switch their investments in the funds.
The ETF series of the funds, however, will not be capped.
“CIBC GAM encourages all investors to consult with their advisors to discuss the implications of the capping for their personal circumstances and investment needs,” it said in a release.
Lastly, CIBC GAM has announced upcoming portfolio management changes to several other funds.
Effective on or around May 15, it said the portfolio management responsibilities for the following funds will be “assumed or reallocated to the portfolio advisor and/or portfolio sub-advisors” as set out below:
- The Imperial International Equity Pool and CIBC International Equity Private Pool will each be managed by Mackenzie Financial Corp., CIBC Private Wealth Advisors and CIBC GAM
- The Imperial Overseas Equity Pool will be managed by CIBC Private Wealth Advisors and CIBC GAM
- The CIBC Equity Income Private Pool will be managed by Connor, Clark & Lunn Investment Management Ltd., Guardian Capital LP and CIBC GAM
- The Renaissance Global Markets Fund and Renaissance Global Focus Fund will each be managed by CIBC Private Wealth Advisors
More fund changes announced
Other firms have announced changes to their fund lineups too.
NEI Investments (NEI) said that effective on or around June 21, Boston-based quantitative investment manager Numeric Investors LLC, a subsidiary of Man Group plc., will assume management of the NEI International Equity RS Fund, taking over from Toronto-based Addenda Capital Inc.
Numeric Investors (which operates as Man Numeric) specializes “in alpha-generating equity strategies for institutional investors worldwide,” NEI said in a release, adding that the firm “uses computer models to exploit market inefficiencies, covering long-only and long/short portfolios.”
As part of the transition, the fund’s investment strategies have been updated. A breakdown of the changes is available here.
Desjardins Investments Inc. (DI) is making a slew of changes to its mutual fund lineup “to keep pace with the ever-changing investment needs of financial professionals, investors and clients,” it announced on Thursday.
For one, it’s replacing the current portfolio sub-manager of the Desjardins Global Equity Fund and Desjardins Emerging Markets Opportunities Fund with Desjardins Global Asset Management, updating the funds’ investment strategies, and cutting their management fees across different classes of units.
Also, the Desjardins Global Equity Fund will be renamed the Desjardins Multifactor Global Equity Fund.
Those changes are slated to take place on or around June 22.
As well, as of July 13, “the characteristics and the description of PM-Class Units will be modified, such that this class of units” will be offered “only to institutional investors that will have entered into an agreement with the manager,” a release said. “The terms of the investment, the management fees and the fixed administration fees applicable to these units will be negotiated directly with each investor.”
Moreover, DI is looking to merge the Melodia Very Conservative Income Portfolio and the Melodia Conservative Income Portfolio with the Desjardins Active Strategy Conservative Portfolio, subject to investor approval at a meeting held on or around Aug. 20. If the proposed mergers get approved, they’ll take effect when markets close on or around Sept. 4.
Finally, DI is proposing to tweak the investment objective of the Desjardins Global Government Bond Index Fund.
It wants to replace the fund’s current benchmark index, the Bloomberg Global Aggregate Government ex Emerging Markets (CAD Hedged) Index, with a new benchmark index, the Solactive G7 Government Bond (Total Return CAD Hedged) Index.
Investors will also vote on this change at a meeting held on or around Aug. 20. If the proposed modification is approved, it’ll take effect when markets close on or around Aug. 31.
A full breakdown of Desjardins’ proposed changes is available here.
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