TORONTO, June 12, 2019 /CNW/ - Evolve Funds Group Inc. ("Evolve") is pleased to announce that it has filed the final prospectus for the Evolve E-Gaming Index ETF ("HERO"). Units of ticker symbol HERO have been conditionally approved for listing on the Toronto Stock Exchange ("TSX") and will begin trading on June 17, 2019.
HERO is Canada's first eGaming ETF, designed to provide investors with access to equity securities of companies listed domestically and globally, and other issuers, with business activities in the electronic gaming industry.
"The launch of HERO marks an opportunity for Canadian investors to participate in another innovative sector positioned for exponential global growth," said Raj Lala, President and CEO of Evolve. "The momentum behind eGaming signifies a cultural shift in entertainment with 2.2 billion gamers globally. Additionally, almost 500 million people are expected to watch e-gaming events, leading to supplemental revenue sources for the industry from areas such as media rights and sponsorships. This year, the industry is forecasted for growth upwards of 38%."
HERO seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Solactive eGaming Index, or any successor thereto (the "HERO Index"). The HERO Index measures the performance of equity securities of companies that are software providers for eGaming and eSports, including other Games Software, Online Game Websites and Software, Handheld and Smart Phone Games Software, Console Games Software, and Electronic Gaming/Entertainment Electronics Makers.
"The launch of Canada's first eSports ETF further validates the size and longevity of the gaming industry," said Menashe Kestenbaum, Founder and CEO of Enthusiast Gaming. "We look forward to the launch of HERO and taking part in the continued growth and success of the gaming industry." Enthusiast Gaming is a Canadian company building one of the largest networks of gaming enthusiasts, through events, original content, and advertising.
The HERO Index is published in Canadian dollars. The composition of the HERO Index is reviewed quarterly and is adjusted on each rebalancing day. Each Constituent Security is weighted in accordance to its market capitalization in relation to the market capitalization of the other constituents on each rebalancing day. The HERO Index is an index of Solactive AG and is calculated and distributed by Solactive AG.
About Evolve Funds Group Inc.
With assets under management of over $485 million, Evolve is Canada's fastest growing ETF provider since launching its first suite of ETFs on September 20, 2017. As a leader in thematic ETFs, Evolve specializes in bringing innovative ETFs to Canadian investors. Evolve's suite of ETFs provide investors with access to: (i) long term investment themes; (ii) index-based income strategies; and (iii) some of the world's leading investment managers. Established by a team of industry veterans with a proven track record of success, we create investment products that make a difference. For more information, please visit www.evolveetfs.com.
Solactive AG is an innovative index provider and financial data and technology provider that focuses on the development, calculation and distribution of tailor-made indices across all asset classes. As at January 2019, Solactive AG served approximately 400 clients in Europe, America and Asia, with approximately USD 200 billion invested in products linked to indices calculated by the company globally, primarily via 380 exchange-traded funds from a number of well-known providers. Solactive AG was established in 2007 and is headquartered in Frankfurt, with additional offices in Berlin, Dresden, Hong Kong and Toronto. For further information, please visit www.solactive.com.
About Enthusiast Gaming
Founded in 2014, Enthusiast Gaming is the largest vertically integrated video game company and has the fastest-growing online community of video gamers. Through the Company's organic and acquisition strategy, it has amassed a platform of over 150 million monthly visitors across its network of websites and YouTube channels. Enthusiast also owns and operates Canada's largest gaming expo, Enthusiast Gaming Live Expo, EGLX, (eglx.ca) with approximately 55,000 people attending in 2018. For more information on the Company, visit www.enthusiastgaming.com.
Commissions, management fees and applicable sales taxes all may be associated with an investment in the exchange traded funds managed by Evolve Funds Group Inc. (the "ETFs"). The ETFs are not guaranteed, their values change frequently and past performance may not be repeated. The prospectus contains important detailed information about the ETFs. Please read the prospectus before investing.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "anticipate", "believe", "intend" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Evolve undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.
HERO is not sponsored, promoted, sold or supported in any other manner by Solactive AG nor does Solactive AG offer any express or implicit guarantee or assurance either with regard to the results of using the Index and/or Index trade name or the Index Price at any time or in any other respect. The Index is calculated and published by Solactive AG. Solactive AG uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards HERO, Solactive AG has no obligation to point out errors in the Index to third parties including but not limited to investors and/or financial intermediaries of the financial instrument. Neither publication of the Index by Solactive AG nor the licensing of the Index or Index trade name for the purpose of use in connection with the financial instrument constitutes a recommendation by Solactive AG to invest capital in HERO nor does it in any way represent an assurance or opinion of Solactive AG with regard to any investment in HERO.
SOURCE Evolve ETFs
For further information: Evolve ETFs: [email protected], t. 416.214.4884, tf. 1.844.370.4884; MEDIA CONTACT: Keith Crone, Executive Vice President, Head of Marketing, [email protected], t. 416.572.2111