TORONTO, Nov. 14, 2018 /CNW/ - Evolve Funds Group Inc. ("Evolve ETFs") is pleased to announce that it has filed a final prospectus to launch the Evolve Active Global Fixed Income ETF ("EARN"). EARN has closed its initial offering of units and will begin trading on the Toronto Stock Exchange ("TSX") today under the ticker symbol EARN.
EARN is designed to provide Canadian investors with access to an actively managed exchange traded fund ("ETF") that invests primarily in global debt securities of corporate issuers. Allianz Global Investors ("AllianzGI") will act as sub-advisor for EARN.
The Canadian ETF industry is increasing in assets at an annual pace of 25% for the past 10 years, with fixed income being the fastest growing segment recently in number, popularity and assets. Actively managed ETFs account for 24% of the total AUM held in fixed-income ETFs.
"Advisor and investor demand for actively managed fixed income ETFs continues to increase," said Raj Lala, President & CEO of Evolve ETFs. "Over the past five years, the majority of active bond managers have outperformed passive mutual funds and ETFs. Active management in fixed income allows managers to position their portfolios appropriately to take advantage of market trends. We are very pleased to provide Canadian investors with access to the fixed income expertise of Allianz Global Investors, one of the world's leading active investment managers."
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.
"We are excited to partner with Evolve ETFs in sub-advising our first actively managed ETF and strengthening our foothold in Canada – a key growth market with fantastic opportunity," said David Newman, Head of Global High Yield at AllianzGI. "As a tenured active fixed income investor, we are well-positioned to navigate rising rates and market volatility in an ever-changing market environment."
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.
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.
To celebrate listing on the TSX, Mr. Lala will join Dani Lipkin, Head of Business Development, ETFs, Toronto Stock Exchange, to open the market at 9:30 a.m. EST on November 15, 2018.
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 sixteen 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 protected], t. 416.214.4884, tf. 1.844.370.4884; MEDIA CONTACT for Evolve ETFs, Keith Crone, Executive Vice President, Head of Marketing, [email protected], t. 416.572.2111; MEDIA CONTACT for Allianz Global Investors, Robin Pertusi, Assistant Vice President, Media Relations Manager US, [email protected], t. 212.739.3172