Evovest Global Equity ETF launches on TSX

NBI and Evovest debut an innovative ETF, aiming for global capital growth with a unique AI approach

Evovest Global Equity ETF launches on TSX

National Bank Investments Inc. (NBI), known as the Investment Fund Manager, in partnership with Evovest Inc. (Evovest), the Portfolio Manager, has announced the launch of the Evovest Global Equity ETF (ETF).

Successfully closing its initial offering of units, the ETF begins trading on the Toronto Stock Exchange ("TSX") today. This collaboration marks a significant step in expanding their reach and introducing Evovest's innovative investment approach to a wider audience.

Carl Dussault, president, and CEO of Evovest, expressed pride in this milestone, highlighting the joint effort's role in their continued evolution.

As the Investment Fund Manager, NBI will oversee the management of the ETF, while Evovest takes on the role of managing the ETF's portfolio. The ETF, trading under the ticker symbol EVO, has set its management fee at 0.73 percent.

This fee is calculated based on the ETF’s average daily net asset value, with taxes applicable, accrued daily and payable monthly.

In a move to attract investors, the management fee will be fully waived until June 30, after which it will revert to its original rate of 0.73 percent. The ETF aims to achieve long-term capital growth by investing in a globally diverse portfolio, primarily composed of common shares from companies around the world.

To select these securities, the Portfolio Manager utilizes proprietary machine learning models. These models are sophisticated quantitative algorithms designed to generate predictive results by analyzing historical data.