Welcoming Aequitas PTF Connect: The next evolution for actively managed mutual funds
TORONTO, Nov. 12, 2015 /CNW/ - Invesco Canada ("Invesco") announced today that through Aequitas PTF Connect ("PTF Connect"), it will provide industry-wide access to Invesco's innovative Platform Traded Funds (PTFTM) structure.
PTFs are unique in that they transact and settle just like exchange-listed securities, using a streamlined process that eliminates unnecessary layers of cost. Investors benefit by having access to active management at a price comparable to that paid by institutional investors.
With PTFs, fee-based advisors place orders through their equity-trading systems as they would an ETF or stock, using the applicable PTF ticker symbol. There are no minimum investment requirements and orders are filled using end-of-day net asset value (NAV), avoiding bid-ask spreads. Since PTFs transact on an equity-trading systems, features like bulk trading are also available.
"Invesco's PTFs are truly a breakthrough for our industry," said Frank Ortencio, Director, Wealth Management, Richardson GMP Ltd. "There are no minimum investment thresholds and the streamlined approach eliminates unnecessary costs. The trade process was absolutely seamless, and I was able to take a position for nine separate accounts in a single transaction."
With today's announcement, any Canadian mutual fund provider who signs up with PTF Connect will now be able to offer the benefits of PTFs to their investors.
"Based on discussions we have had with other fund companies, we investigated multiple avenues to make PTFs available on an industry-wide basis for the benefit of all clients," said Peter Intraligi, President, Invesco Canada. "The values Aequitas stands for, combined with its ability to act quickly in building out a shared-services platform to make PTFs available to the entire industry, led us to rapidly conclude that we preferred to partner with them."
PTF transactions will be facilitated through PTF Connect, a new trading platform developed by Aequitas Technology Services Inc. (Aequitas Connect), a wholly-owned subsidiary of Aequitas Innovations Inc. As a shared service, PTF Connect will be available to all fund companies and IIROC members in Canada. Aequitas Connect is actively building out its solution, and PTF Connect is on track to begin operating early in the first quarter of 2016.
PTF Connect leverages the innovative PTF structure and related intellectual property developed by Invesco. Invesco has pending patent coverage for its PTF innovation.
Aequitas Innovations Inc. was established by a diverse group of prominent investors representative of all Canadian capital markets stakeholders to create a new Canadian stock exchange that puts investors, companies raising capital and their dealers first. Its goal is to benefit all market participants and offer them a fair chance to participate in the capital markets.
For more information, please visit www.invesco.ca/PTF. You can also connect with Invesco Canada on Twitter (@InvescoCanada), LinkedIn or Facebook, and get insights from the Trimark portfolio managers on the Trimark Investments blog.
About Invesco Canada Ltd.
Invesco Canada Ltd., operating under three distinct yet complementary product brands (Trimark, Invesco and PowerShares), is one of Canada's leading investment management companies. A subsidiary of Invesco Ltd., Invesco Canada's singular focus is on investment management, offering a diversified suite of solutions to institutions, organizations, companies and individual investors across Canada and around the world. Additional information is available at www.invesco.ca.
About Invesco Ltd.
Invesco Ltd. is a leading independent global investment management firm, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our clients around the world. Operating in more than 20 countries, the firm is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.
Commissions, trailing commissions, management fees and expenses may all be associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the simplified prospectus before investing. Copies are available from your advisor or Invesco Canada Ltd.
Invesco®, Platform Traded FundsTM, PTFTM and all associated trademarks are trademarks of Invesco Holding Company Limited, used under licence by Invesco Canada Ltd.
© Invesco Canada Ltd., 2015
Aequitas Connect™ is a trademark of Aequitas Innovations Inc.
SOURCE Invesco Canada Ltd.
For further information: Aysha Mawani, Vice President, Corporate Affairs, Tel: 416.324.7712, [email protected]