TORONTO, Oct. 12, 2018 /CNW/ - Evolve Funds Group Inc. ("Evolve ETFs") is pleased to announce that it has filed a preliminary prospectus with the Canadian securities regulators for the Evolve Active Global Fixed Income ETF ("EARN"). EARN is an actively managed exchange traded fund ("ETF") that invests primarily in global debt securities of corporate issuers. Evolve ETFs has appointed Allianz Global Investors ("AllianzGI") as sub-advisor for EARN.
"We are very pleased to partner with Allianz Global Investors, one of the world's leading active investment managers," said Raj Lala, President & CEO of Evolve ETFs. "Advisor and investor appetites for active management in fixed income continues to grow with an emphasis on security selection, credit analysis and risk management. Last year 40% of all Canadian fixed income ETF inflows were into active ETFs. AllianzGI provides extensive global resources and investment expertise, as fixed income securities continue to be a core component of investor portfolios."
EARN seeks to generate positive returns throughout interest rate and economic cycles, firstly by allocating to different credit asset classes, and also through bottom-up individual security selection. EARN seeks to provide long term returns in excess of the 3 month U.S. dollar London Interbank Offered Rate by investing primarily in global debt securities of corporate issuers.
Allianz Global Investors has approximately USD $612 billion in assets under management as of June 30, 2018, including USD $36 billion in global fixed income.
"The opportunity to expand our presence in the Canadian market through this partnership with Evolve ETFs feels both well-timed and well-matched," said David Newman, Head of Global High Yield at AllianzGI. "While Evolve has deep knowledge of the Canadian ETF market that we have been looking to break into, AllianzGI brings decades of experience across credit markets, and a team that has been a pioneer of global fixed income. Together, we can create a strong foothold in Canada with active management being the driving force that aligns us in sub-advising our first active ETF and delivering value to financial advisors and Evolve's clients."
Evolve ETFs, a registered investment fund manager and portfolio manager, will act as promoter, manager, trustee and portfolio manager of EARN and will be responsible for the administration of EARN.
A preliminary prospectus containing important information relating to securities of the Evolve ETF has been filed with the securities commissions or similar authorities in all provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. A copy of the preliminary prospectus is available on SEDAR (www.sedar.com). There will not be any sale or acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
About Allianz Global Investors
Allianz Global Investors is a leading active asset manager with over 700 investment professionals* in 25 offices worldwide and managing USD $612 billion in assets for individuals, families and institutions.
Active is the most important word in our vocabulary. Active is how we create and share value with clients. We believe in solving, not selling, and in adding value beyond pure economic gain. We invest for the long term, employing our innovative investment expertise and global resources. Our goal is to ensure a superior experience for our clients, wherever they are based and whatever their investment needs.
Active is: Allianz Global Investors
Data as of June 30, 2018 (*as of December 31, 2017)
The Allianz Group is one of the world's leading insurers and asset managers with more than 88 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world's largest investors, managing over 660 billion euros on behalf of its insurance customers while our asset managers Allianz Global Investors and PIMCO manage an additional 1.4 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2017, over 140,000 employees in more than 70 countries achieved total revenue of 126 billion euros and an operating profit of 11 billion euros for the group.
About Evolve ETFs
Evolve specializes in bringing innovative ETFs to Canadian investors. Evolve's suite of fifteen 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
For further information: CONTACT INFORMATION: Evolve ETFs, email@example.com, t. 416.214.4884, tf. 1.844.370.4884; MEDIA CONTACT for Evolve ETFs: Keith Crone, Executive Vice President, Head of Marketing, firstname.lastname@example.org, t. 416.572.2111; MEDIA CONTACT for Allianz Global Investors: Robin Pertusi, Assistant Vice President, Media Relations Manager US, email@example.com, t. 212.739.3172