FIXD Will Begin Trading on the NEO Exchange on March 29, 2018
TORONTO, March 28, 2018 /CNW/ - Evolve Funds Group Inc. ("Evolve ETFs") is pleased to announce that it has filed a final prospectus to launch the Evolve Active Core Fixed Income ETF ("FIXD"). Evolve ETFs has retained Foyston, Gordon & Payne Inc. ("FGP") to provide sub-advisory services to FIXD. Units of ticker symbol FIXD have been approved for listing on the NEO Exchange ("NEO") to begin trading on March 29, 2018, subject to confirmation of closing.
FIXD seeks to generate an attractive total investment return through income and long term capital appreciation primarily through investments in debt obligations and other evidences of indebtedness of Canadian, U.S., and international issuers.
FIXD is the first Evolve ETFs product to list on the NEO.
"FIXD will enhance our existing suite of ETFs by providing investors with an actively-managed core fixed income strategy," said Raj Lala, President & CEO of Evolve ETFs. "Fixed income is an asset class where active management may offer significant benefits within low and rising interest rate environments. We are very pleased to be working with Foyston, Gordon & Payne on another actively-managed ETF."
FGP is also the sub-advisor for the Evolve Active Canadian Preferred Share ETF, which was launched on September 29, 2017 and trades on the Toronto Stock Exchange under the ticker DIVS.
"We are excited to once again partner with Evolve ETFs and bring this high quality fixed income strategy to the Canadian retail market," said Ryan Domsy, Vice President and Portfolio Manager, Fixed Income at Foyston, Gordon & Payne Inc. "The objective of the Evolve Active Core Fixed Income ETF is to provide capital preservation, risk mitigation, and enhanced returns through diversification beyond traditional fixed income strategies. In the currently low and potentially rising interest rate environment, the flexibility provided by this active approach should deliver significant value to a client's portfolio."
FGP has approximately $13.4 billion in assets under management as at December 31, 2017, including $2.4 billion in fixed income. In order to select securities for FIXD, FGP will rely on its in-depth fundamental credit research, view of long term trends, analysis of each issuer`s competitive position, review of the return relative to the issuer`s risk and general market conditions.
FIXD will close the initial offering of units to its designated broker by the close of business on March 28, 2018, prior to its initial listing of units on NEO on March 29, 2018.
About Foyston, Gordon & Payne Inc.
Foyston, Gordon & Payne Inc. ("FGP") is a value-style investment management firm founded in 1980 to provide portfolio management services to organizations and high net worth individuals. FGP manages approximately $13 billion in Canadian equities, foreign equities, and Canadian bonds. FGP believes that high quality, sustainable earnings should contribute to producing excellent longer-term value-added results. The firm's portfolio managers and analysts use a strict discipline to ensure they do not overpay for earnings. Quality and value are the primary determinants of the excellent long-term results provided to FGP's clients.
About Evolve ETFs.
Evolve specializes in bringing innovative ETFs to Canadian investors. Evolve's suite of fourteen 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.
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 ETFs 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.
SOURCE Evolve ETFs