TORONTO, Oct. 16, 2017 /CNW/ - Evolve Funds Group Inc.
("Evolve Funds") is pleased to announce the launch of the
following ETFs in Canada
("Evolve ETFs"):
Evolve US Banks Enhanced Yield ETF
("CALL");
Evolve Active US Core Equity ETF ("CAPS"); and
Evolve Active Short Duration Bond ETF ("TIME")
The Evolve ETFs have closed their initial offerings of hedged
and unhedged units and will begin trading on the Toronto Stock
Exchange ("TSX") today under the following ticker
symbols:
Evolve
ETF
|
Hedged
Units
|
Unhedged
Units
|
Evolve US Banks
Enhanced Yield ETF
|
CALL
|
CALL.B
|
Evolve Active US Core
Equity ETF
|
CAPS
|
CAPS.B
|
Evolve Active Short
Duration Bond ETF
|
TIME
|
TIME.B
|
Evolve US Banks Enhanced Yield ETF
CALL seeks to replicate, to the extent reasonably possible
before fees and expenses, the performance of the Solactive Equal
Weight US Bank Index Canadian Dollar Hedged, while mitigating
downside risk. CALL invests primarily in the equity constituents of
the Solactive Equal Weight US Bank Index Canadian Dollar Hedged,
while writing covered call options on up to 33% of the portfolio
securities, at the discretion of the Manager. The level of covered
call option writing may vary based on market volatility and other
factors.
"CALL seeks to provide investors with both upside potential and
enhanced yield in a low rate environment," said Kirk Cooper, Chief Investment Officer at Evolve
Funds. "We believe the fundamentals for large US banks are
positive; they generally have excess capital, dividend payments
have been increasing, and we believe they could benefit from any
tax and regulatory changes in the U.S. In our view, active
management of covered calls strikes a balance between generating
yield and participating in any potential upside performance of the
sector."
Evolve Active US Core Equity ETF
CAPS seeks to provide holders of units with long-term capital
appreciation by investing primarily in equity securities of U.S.
listed large-capitalization companies using a selection process
that combines quantitative techniques, fundamental analysis and
risk management. Evolve Funds has retained Nuveen Asset Management,
LLC ("Nuveen") to act as sub-advisor for CAPS.
Nuveen utilizes an investment process that combines quantitative
techniques, fundamental analysis and risk management. The
lead senior portfolio manager that will be principally responsible
for CAPS is Bob Doll, a chief equity
strategist at Nuveen. Bob manages Nuveen's Large Cap Equity Series,
which includes traditional large cap equities, specialty categories
and alternative strategies. He is a highly respected authority on
the equities markets among investors, advisors, and the media. As
the author of widely-followed weekly commentaries and annual market
predictions, Bob provides ongoing, timely market perspectives.
Evolve Active Short Duration Bond ETF
TIME seeks to provide holders of units with a high level of
current income through monthly distributions. Under normal market
conditions, TIME invests primarily in a diversified portfolio of
below investment grade corporate debt securities rated "BB+" or
lower by Standard & Poor's Rating Services and Fitch Ratings or
"Ba1" or lower by Moody's Investor Services, Inc. at the time of
investment. The portfolio will generally have an average duration
of less than three years. Evolve Funds has retained Nuveen to act
as sub-advisor for TIME.
Nuveen employs a bottom-up approach that focuses on credit
analysis and relative value. Nuveen seeks to identify securities
across diverse sectors and industries that it believes are
undervalued or mispriced.
"Active ETFs have been one of the fastest growing segments of
the Canadian ETF industry," said Raj Lala, President & CEO at
Evolve Funds. "This segment currently makes up approximately
15% of ETF AUM, but is trending upwards. In fact, this year
there have been more sales in Active ETFs than all of 2016.
Accordingly, we are very pleased to partner with Nuveen as
sub-advisor for these active strategies. Nuveen's disciplined
approach to active management is driven by integrated research and
risk management processes."
About Nuveen Asset Management, LLC
(https://www.nuveen.com/NuveenAssetManagement/ )
Nuveen Asset Management offers a broad range of innovative
investment strategies, from traditional and specialized equity to
taxable and municipal fixed income. With solutions that span
multiple asset classes, the firm's disciplined approach to
investing is driven by integrated research and risk management
processes. Nuveen Asset Management offers a collaborative approach
to multi-strategy portfolio management that emphasizes quality and
ingenuity.
About Solactive (www.solactive.com)
Solactive AG is an innovative index provider that focuses on the
development, calculation and distribution of tailor-made indices
over all asset classes. As at March 2017, Solactive AG served
approximately 350 clients in Europe, America and Asia,
with approximately USD $100 billion invested in products
linked to indices calculated by the Company globally, primarily via
250 exchange traded funds from a number of well-known providers.
Solactive AG was established in 2007 and is headquartered
in Frankfurt.
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 Funds 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.
CALL 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 the Issuer, 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
CALL nor does it in any way represent an assurance or opinion of
Solactive AG with regard to any investment in CALL.
About Evolve Funds Group Inc.
Evolve Funds provides
Canadian investors with innovative investment solutions and access
to some of the world's largest investment managers.
Established by a team of industry veterans, we create investment
products that make a difference. For more information, please
visit www.evolvefunds.com.
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SOURCE Evolve Funds Group Inc.