Toronto-based A.I. focused
asset manager will now oversee the portfolio of Canada's first A.I. driven ETF
TORONTO, Oct. 31, 2019 /CNW/ - Horizons ETFs Management
(Canada) Inc. ("Horizons
ETFs") is pleased to announce that, effective immediately,
Castle Ridge Asset Management Limited ("Castle Ridge") has
assumed the sub-advisory role for the Horizons Active A.I. Global
Equity ETF ("MIND"), which trades on the Toronto Stock
Exchange under the ticker symbol MIND. MIND is the first global
equity-focused exchange traded fund ("ETF") in the world to
use artificial intelligence ("A.I.") for all security
selection decisions.
MIND seeks to achieve long-term equity returns through
investments in major global equity indices using a basket of
primarily North American-listed ETFs. MIND allocates its equity
index exposure using a proprietary artificial intelligence
selection process that extracts patterns by analyzing market
data.
Castle Ridge is a Toronto-based
asset management firm that is a recognized leader in using A.I. to
manage investment portfolios. Castle Ridge's A.I. system, named
W.A.L.L.A.C.E., replaces the A.I. system designed by Qraft
Technologies Inc. previously used for MIND. W.A.L.L.A.C.E. uses a
new branch of A.I. called 'Geno-Synthetic Algorithms', a type of
machine learning that uses a form of natural selection to make
increasingly better decisions.
W.A.L.L.A.C.E. uses successive generations of over 500 portfolio
management mechanisms to selectively "breed" increasingly agile and
intuitive investment algorithms. Repeated over thousands of
generations, the selection process pursues "survival of the
fittest" algorithms. As a result, W.A.L.L.A.C.E. is designed to
become more powerful with each successive generation.
"We are very excited to have Castle Ridge and their
innovative A.I. system, W.A.L.L.A.C.E., providing the security
selection for MIND," said Steve
Hawkins, President and CEO of Horizons ETFs.
"Toronto is a recognized global
leader in A.I. research, and Castle Ridge has been at the forefront
of using leading-edge A.I. research and design from Canada's A.I. community to build A.I.-driven
investment solutions."
There is no change to MIND's investment objectives. MIND will
continue to gain exposure to major global equity indices through
the same broadly diversified portfolio of global ETFs, which will
be actively rebalanced on at least a monthly basis.
"We continue to believe that A.I. is the future of global
equity management," said Mr. Hawkins. "The sheer size of the
global equity market and the overwhelming amount of data oversight
needed to manage effectively in today's market conditions requires
a level of data analysis and predictive powers that W.A.L.L.A.C.E.
provides."
Additional detail on the investment strategy employed by Castle
Ridge, and W.A.L.L.A.C.E., will be made available in a prospectus
amendment which will be filed as soon as practicable following the
date hereof and available on www.sedar.com.
About Castle Ridge Asset
Management (www.castleridgemgt.com)
Castle Ridge, with offices in Toronto and New
York, offers investment strategies powered by its
proprietary Artificial Intelligence system, named W.A.L.L.A.C.E.
The W.A.L.L.A.C.E. AI platform continuously learns and evolves by
analyzing vast quantities of financial market data. Through major
breakthroughs in Machine Learning and self-evolving Evolutionary
Computing, W.A.L.L.A.C.E. uncovers unique market patterns that go
far deeper than typical quantitative or systematic strategies.
About Horizons ETFs Management (Canada) Inc.
(www.HorizonsETFs.com)
Horizons ETFs Management (Canada) Inc. is an innovative financial
services company and offers one of the largest suites of exchange
traded funds in Canada. The
Horizons ETFs product family includes a broadly diversified range
of solutions for investors of all experience levels to meet their
investment objectives in a variety of market conditions. Horizons
ETFs has approximately $10 billion of
assets under management and 91 ETFs listed on major Canadian stock
exchanges.
Commissions, management fees and applicable sales taxes all
may be associated with an investment in MIND which is managed by
Horizons ETFs Management (Canada)
Inc. MIND is not guaranteed, its value changes frequently, and past
performance may not be repeated. The prospectus contains important
detailed information about MIND. Please read the prospectus
before investing.
SOURCE Horizons ETFs Management (Canada) Inc.