New ETFs begin trading, allocation ranges adjust, and management fees drop in the latest fund updates
Harvest Portfolios, Global X, Desjardins, and Mackenzie Investments have announced fund updates, including new ETFs, investment objective changes, and management fee adjustments.
Harvest Portfolios Group launched the Harvest Enhanced High Income Shares ETFs, which began trading on the Toronto Stock Exchange (TSX).
The ETFs hold single stocks with covered call strategies and leverage, targeting sectors such as technology, consumer, and crypto.
Ticker symbols include GOGY, AMDY, AVGY, CNYE, COSY, MSTE, and NFLY.
The initial monthly variable distributions range from $0.10 to $0.60 per unit, payable on April 9, to unitholders of record on March 31.
Global X Investments Canada completed changes to three ETFs, effective March 4:
- PPLN now follows an equal-weighted index of major Canadian pipelines instead of the Solactive Pipelines & Energy Services Index.
- UTIL now tracks an equal-weighted index of Canadian utilities, replacing the Solactive Canadian Utility Services High Dividend Index.
- CHPS now tracks the PHLX US AI Semiconductor Index instead of the Solactive Capped Global Semiconductor Index and no longer hedges its USD exposure.
- PPLN and UTIL’s management fees were reduced to 0.25 percent (from 0.55 percent and 0.50 percent, respectively).
- PPLN’s distribution policy changed from quarterly to monthly.
Desjardins Investments introduced the Desjardins Emerging Market Equity Index ETF (DMEE), which began trading on the TSX.
The ETF aims to replicate the Solactive GBS Emerging Markets Large & Mid Cap CAD Index, focusing on large and mid-cap securities from emerging markets. The fund has a 0.25 percent management fee.
Mackenzie Investments proposed changes to two funds:
- Mackenzie Cundill Canadian Balanced Fund seeks approval to adjust its equity allocation range from 60-70 percent to 60-90 percent, while its fixed-income minimum is reduced from 30 percent to 10 percent. Investors will vote on June 5, with changes implemented on June 27, if approved.
- Mackenzie Income Fund revised its fixed-income strategy to require a weighted average credit quality of “BB” or higher and changed its risk rating from low to low to medium.
