There is one new player and one returning player in the Canadian ETF market, in the form of Mackenzie Investments
and Toronto Dominion Bank respectively.
Mackenzie Investments, part of IGM Financial, one of the largest investment management firms in the country, will enter the market with four fixed income actively managed products, according to a report by National Bank Financial
Its’ line-up will include: the Mackenzie Core Plus Canadian Fixed Income ETF, the Mackenzie Floating Rate Income ETF, the Mackenzie Core Plus Global Fixed Income ETF and the Mackenzie Unconstrained Bond ETF. All of them will be actively managed with funds ranging from 0.55-0.65 per cent.
Meanwhile, Toronto-Dominion, which left the sector a decade earlier, has filed for the introduction of six ETFs. These will include a Canadian dollar international hedged equity fund, as well as a Canadian bond ETF.
The arrival of Mackenzie and Toronto-Dominion ETFs represents just the latest in a long a line of new funds entering the Canadian market this year. According to industry analyst Daniel Strauss, speaking to Bloomberg
, during 2016 so far 18 new ETFs have arrived in Canada from seven different providers.
Currently, around $87.5 billion is traded on ETFs in Canada. The Canadian ETF Association
reports that BlackRock Inc. iShares is currently the vast market leader, with a share of 51 per cent.