Independent investment firm adds to alternative exchange

Independent investment firm adds to alternative exchange

Independent investment firm adds to alternative exchange Invesco Canada is expanding its presence on the Aequitas NEO Exchange via two moves: an application to add new ETFs and confirmed approval to add two new series of a current ETF listing.

A preliminary prospectus has been filed with Canadian securities regulators for PowerShares S&P 500 High Dividend Low Volatility Index ETF and PowerShares S&P Global ex. Canada High Dividend Low Volatility Index ETF, two new ETFs from Invesco. Pending regulatory and NEO Exchange approval, they will be listed with the following details:
 
Fund name CAD Series Ticker USD Series Ticker CAD Hedged Series Ticker
PowerShares S&P 500 High Dividend Low Volatility Index ETF UHD UHD.U UHD.F
PowerShares S&P Global ex. Canada High Dividend Low Volatility Index ETF GHD - GHD.F
 
Meanwhile, two new series of Invesco’s PowerShares DWA Global Momentum Index ETF (DWG) have been approved for listing. The new series will allow Canadian investors to purchase DWG in US dollars (DWG.U) and in a Canadian-dollar-hedged variant (DWG.F) and are anticipated to begin trading within the next few weeks.

“We have seen firsthand that NEO offers enhanced transparency and a choice in service models that benefit Canadian investors,” said PowerShares Canada Vice President for Product and Business Strategy Christopher Doll. “Our decision to apply to list additional ETFs on NEO was driven by the efficiencies, quality of service and cost reductions that NEO has provided to the Canadian ETF industry.”

The first company to have listings on NEO, Invesco is an advocate of competition in Canada’s capital markets. Its PowerShares ETFs will soon be joined on the alternative exchange by four planned ETF offerings from Redwood Asset Management and certain iShares ETFs to be migrated from the TSX by BlackRock Canada.

“We are pleased [Invesco has] decided to launch new ETFs with us and expand the currently listed DWG family,” said NEO Exchange President and CEO Jos Schmitt. “Invesco was a trailblazer in welcoming competition to the ETF trading landscape and has led the way for other fund providers to do the same.”


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