New ETF from Auspice Capital Advisors first to be tied to Canadian Crude Oil
TORONTO, May 28, 2015 /CNW/ - CIBC Mellon today announced that Auspice Capital Advisors has selected CIBC Mellon as asset servicing provider for its new Canadian Crude Oil Index exchange-traded fund (ETF),which has begun trading on the Toronto Stock Exchange under the ticker symbol "CCX". Auspice's Canadian Crude Oil Index ETF seeks to replicate, to the extent possible, the performance of the Canadian Crude Excess Return Index, designed to measure the performance of the Canadian crude oil market in an investable format. CIBC Mellon will provide custody, fund administration, ETF servicing and information-delivery services for Auspice's new offering.
"With our new Canadian Crude Oil Index ETF, Auspice aims to help foster greater transparency, fair pricing and global awareness regarding the Canadian crude oil market," said Tim Pickering, President and Chief Investment Officer, Auspice Capital Advisors. "Auspice is a leading alternative investment manager and we know our investors have very high expectations. We are looking forward to leveraging CIBC Mellon's experience, technology and service commitment as we bring this exciting new ETF to market in Canada."
"We are pleased to support Auspice in launching their new Canadian Crude Oil Index ETF," said Shane Kuros, Vice President, Business Development and Relationship Management, CIBC Mellon. "We continue to see tremendous growth and interest in ETFs in Canada, and the team at CIBC Mellon is very pleased to support ETF sponsors as they bring new offerings online to meet the evolving needs of investors in Canada."
Leveraging BNY Mellon's sophisticated asset servicing and ETF capabilities, CIBC Mellon now services seven of Canada's eleven ETF sponsors. Solutions for clients include 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.
About Auspice Capital Advisors, Ltd.
Auspice is a Calgary, Canada based fund manager of non-correlated alternatives which since 2006 has partnered with global institutional and retail clients. Led by a respected PM team with institutional pedigree from an Energy major and Canadian bank, Auspice employs a disciplined, rules-based approach to investment management and manages a suite of award-winning and innovative investment products available in a variety of delivery mechanisms (funds, ETFs, indices, managed accounts). Auspice is registered as a portfolio manager (IFM, CTM, EMD) in Canada and a CTA with the NFA. Auspice is the manager and trustee of the ETF, and is responsible for providing or arranging for the administrative and third party services required. www.auspicecapital.com
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, recordkeeping, pension services, securities lending services, foreign exchange settlement and treasury services. As at March 31, 2015, CIBC Mellon had more than C$1.5 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 network, which as at March 31, 2014 had US$28.5 trillion in assets under custody and/or administration and US$1.74 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.
SOURCE CIBC Mellon
For further information: Media contacts: CIBC Mellon: Brent Merriman, Corporate Communications, CIBC Mellon, [email protected], +1 416-643-5065; Auspice Capital: James DeCosimo, Kaiser Lachance Communications, +1 647-725-2520 x218, [email protected]