CIBC Mellon earns $1.1 billion mandate expansion from Horizons ETFs
Horizons taps CIBC Mellon asset servicing for 38 inverse and leveraged exchange-traded funds
TORONTO, March 27, 2014 /CNW/ - CIBC Mellon announced today that Horizons ETFs Management (Canada) Inc. (Horizons ETFs) has selected CIBC Mellon to provide fund administration, custody and exchange-traded fund (ETF) services for the Horizons family of 38 leverage and inverse ETFs. This CAD$1.1 billion mandate expands on the asset servicing solutions CIBC Mellon already provides for the Horizons ETFs family of actively-managed ETFs. With the addition of these 38 ETFs, CIBC Mellon now services all of Horizons' Canadian ETF business.
"We've been very happy with the service provided by CIBC Mellon on our actively managed ETF business. Both the technology used by their platform and the client service they offer have been terrific," said Kevin Beatson, Chief Operating Officer of Horizons ETFs. "We're quite happy to transition the rest of our ETF business to their custody and fund administration platforms, and feel our unit holders will be well served by this partnership."
"We are committed to great service, strong support and continuous improvement here at CIBC Mellon, and we have enjoyed a very strong working relationship with Horizons - we are very pleased they have again selected us to service their family of funds. We look forward to delivering strong solutions for Horizons ETFs as they continue to expand their business and serve their investors," said Ronald C. Landry, executive director, ETF services, CIBC Mellon.
Horizons Exchange Traded Funds Inc. is an innovator in both actively-managed ETFs and inverse and leveraged ETFs. They are currently the largest provider of both actively managed ETFs and leveraged ETFs in Canada.
CIBC Mellon is a leading provider of ETF-servicing solutions in Canada, currently serving the majority of ETF sponsors operating in the Canadian market. Leveraging the award-winning capabilities of BNY Mellon, a global leader in investment servicing, CIBC Mellon's ETF solution includes indicative net-asset-value (NAV) production, automated basket creation and redemption features, and a designated broker interface offering flexible, end-to-end automation of the order process. This solution delivers support and flexibility, meeting the operational needs of a spectrum of ETF industry participants.
About Horizons ETFs
Horizons ETFs Management (Canada) Inc. and its affiliate AlphaPro Management Inc. are innovative financial services companies offering the Horizons ETFs family of exchange traded funds. The Horizons ETFs family includes a broadly diversified range of investment tools with solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. With approximately $4.2 billion in assets under management and 73 ETFs listed on the Toronto Stock Exchange, the Horizons ETFs family makes up one of the largest families of ETFs in Canada. Horizons ETFs Management (Canada) Inc. and AlphaPro Management Inc. are members of the Mirae Asset Financial Group.
About CIBC Mellon
CIBC Mellon is a Canadian company exclusively focused on the investment servicing needs of Canadian institutional investors and international institutional investors into Canada. Founded in 1996, CIBC Mellon is 50-50 jointly owned by The Bank of New York Mellon (BNY Mellon) and Canadian Imperial Bank of Commerce (CIBC). CIBC Mellon's investment servicing solutions for institutions and corporations are provided in close collaboration with our parent companies, and include custody, multicurrency accounting, fund administration, unitholder recordkeeping, pension services, securities lending services, ETF services, foreign exchange settlement and treasury services. As at December 31, 2013, CIBC Mellon had more than CAD$1.3 trillion of assets under administration on behalf of pension funds, investment funds, corporations, governments, insurance companies, foreign insurance trusts, foundations and global financial institutions whose clients invest in Canada. CIBC Mellon is part of the BNY Mellon global network, which as of December 31, 2013, had USD$27.6 trillion in assets under custody and/or administration and USD$1.58 trillion in assets under management. CIBC Mellon is the corporate brand of CIBC Mellon Trust Company and CIBC Mellon Global Securities Services Company and may be used as a generic term to reference either company or both companies collectively.
For more information - including CIBC Mellon's latest knowledge leadership on issues relevant to institutional investors active in Canada - visit www.cibcmellon.com or follow us on Twitter @CIBCMellon.
CIBC Mellon is a licensed user of the CIBC trade-mark and certain BNY Mellon trade-marks.
SOURCE CIBC MellonFor further information:
CIBC Mellon: Paul Cunliffe, Corporate Communications, firstname.lastname@example.org, 416-643-5289
Horizons ETFs: Mark Noble, Communications and Public Relations, email@example.com, 416-640-8254