TORONTO, May 16, 2019 /CNW/ - Evolve Funds Group Inc. ("Evolve") is pleased to announce that it has filed a preliminary prospectus with the Canadian securities regulators for Canada's first eGaming ETF. The Evolve E-Gaming Index ETF ("HERO") is 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.
"We are very pleased to be announcing the filing for Canada's first eGaming ETF," said Raj Lala, President and CEO at Evolve ETFs. "Three-quarters of all Americans have at least one gamer in their household with over 164 million adults in the U.S. playing video games. There are over 300 million fans globally and growing, eSports leagues have created a professional gaming ecosystem comprised of sold out arenas, big name sponsorship opportunities and streaming deals with tech giants like Amazon and Facebook."
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 includes other games software, online game websites and software, handheld and smart phone games software, console games software, and electronic gaming/entertainment electronics makers.
The HERO Index is published in Canadian dollars. The composition of the HERO Index is reviewed quarterly. 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. Exposure to each constituent issuer is capped at 10%. The number of constituents is not capped.
About Evolve Funds Group Inc.
With assets under management of over $470 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.
A preliminary prospectus containing important information relating to securities of the 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.
Commissions, management fees, expenses 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 indicated rates of return are the historical annual compounded total returns including changes in per unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. 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 for Evolve ETFs, Keith Crone, Executive Vice President, Head of Marketing, [email protected], t. 416.572.2111
About Evolve 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....