TORONTO, Nov. 3, 2017 /CNW/ - Evolve Funds Group Inc.
("Evolve") is pleased to announce the launch of an unhedged U.S.
dollar class of units ("USD units") of Evolve Automobile Innovation
Index ETF, making it more convenient for Canadians who want to use
U.S. dollars to invest.
CARS.U has closed its initial offering of USD units, and will begin
trading on the Toronto Stock Exchange ("TSX") today under the
ticker symbol "CARS.U".
The USD unit follows the launch of Canadian dollar hedged
(TSX:CARS) and unhedged (TSX:CARS.B) classes on September 29, 2017.
"CARS.U complements our existing classes of Canada's first Automobile Innovation ETF,"
said Raj Lala, President and CEO of Evolve. "This ETF
provides many Canadian investors a simple way to invest in
companies that are defining the future of the automobile, through
the purchase of Canadian dollar hedged and unhedged units, and now
U.S. Dollar unhedged units."
CARS.U is an index (or passively managed) ETF, that seeks to
replicate, to the extent reasonably possible and before fees and
expenses, the performance of the Solactive Future Cars Index
Canadian Dollar Hedged. CARS invests primarily in equity securities
of companies that are directly or indirectly involved in developing
electric drivetrains, autonomous driving or network connected
services for automobiles.
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.
CARS 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
CARS nor does it in any way represent an assurance or opinion of
Solactive AG with regard to any investment in CARS.
About Evolve Funds Group Inc.
Evolve specializes in
bringing innovative ETFs to Canadian investors. Currently,
Evolve has eight ETFs listed on the Toronto Stock Exchange.
Evolve's suite of ETFs provide investors with access to: (i) long
term investment themes; and (ii) 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.evolvefunds.com.
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SOURCE Evolve Funds Group Inc.