Toronto fund manager to debut active ETFs

New listings represent firm’s first ETF offering for the public markets

Toronto fund manager to debut active ETFs
Purpose Investments subsidiary Redwood Asset Management has announced plans to launch four ETFs, consisting of six listings, on Aequitas NEO Exchange. The announced series will mark Redwood’s first time to launch ETFs on the public markets, providing investors with a suite of ETF solutions administered by best-in-class specialist investment boutiques.

“Offering ETF series of these successful, actively managed mandates has always been a part of our long-term plans for growth, and Purpose has provided the depth of resources and expertise to further accomplish this goal,” said Redwood Asset Management President Peter Shippen, noting that ETFs are now integral to many Canadian investors’ portfolio strategy. “This launch represents not only a necessary extension of distribution for Redwood’s unique strategies, but also an expansion of access and choice for investors seeking truly active ETFs.”

Having been granted conditional approval by NEO, the Redwood ETFs to be listed on the NEO Exchange are:
  • Redwood Floating Rate Preferred Fund (RPS)
  • Redwood U.S. Preferred Share Fund (RPU, RPU.B and RPU.U)
  • Redwood Emerging Markets Dividend Fund (REM)
  • Redwood Unconstrained Bond Fund (RUB)
“We are impressed with NEO’s service, support, and depth of knowledge,” Shippen said. “NEO’s steadfast focus on bringing competition and alternative solutions to the Canadian ETF landscape was a key consideration in solidifying the partnership. We look forward to working with NEO.”

“At NEO, we are committed to doing things differently to build a level playing field for investors and to ensure public companies and investment products have the liquidity they need to succeed,” said Jos Schmitt, president and CEO of Neo Exchange. “We are very excited to work with Redwood, and the entire team at Purpose Investments, to make Canadian markets better for all investors. The commitment from Redwood to list with us is yet another vote of confidence in our innovative solutions that try to do the right thing for the Canadian capital markets”

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