Product roundup: J.P. Morgan Asset Management unveils global equity ETF

J.P. Morgan Asset Management Canada (JPMAM) has brought one of its global equity investment strategies to the Canadian market with the launch of a new actively managed ETF.

The JPMorgan Global Select Equity Active ETF (TSX: JGLO) provides Canadian investors with access to one of the asset manager’s “most successful institutional global equity mandates,” said Jay Rana, head of Canadian advisor business with JPMAM, in an interview.

A version of the product is also listed on Nasdaq and the Australian Securities Exchange.

“We’re excited to bring this strategy to Canada,” Rana said. “And we’re just excited to be part of the growth opportunity in the ETF world, in the active management space.”

The ETF invests in global equities benchmarked to the MSCI World Index. Its investment strategy is supported by a team of 80 analysts, along with Helge Skibeli and Christian Pecher, who have decades of industry experience under their belts.

The fund has a 0.47% management fee and is suitable for investors seeking global equity exposure to diversify their portfolios, Rana said.

Asked about JPMAM’s growth plans in Canada, he said the firm is actively engaging with advisors and investors across the country and “will continue to try to look for where demand is and meet that demand with high-quality investment products.”

“We’re always assessing, always looking at it, but we do have a long-term plan to be part of the ETF world here in Canada and partner with investors across the country,” Rana added.

This is the sixth ETF offering from JPMAM in Canada. The firm launched its first Canadian ETF in October 2024.

Ninepoint expanding ETF lineup

Capitalizing on a wave of Canadian nationalism, Ninepoint Partners LP has filed a preliminary prospectus with securities regulators to launch a suite of single-stock ETFs that invest in well-known Canadian companies.

The funds also sell call options on the single stock they own, employing a covered call approach with modest leverage.

“Our goal is simple: we want to help Canadians earn more from companies they already believe in,” said John Wilson, co-CEO and managing partner at Ninepoint, in a release.

If approved, the initial ETFs that are slated to be part of the firm’s upcoming HighShares ETF suite and be listed on the TSX include:

• Barrick High Income Shares Ninepoint ETF (ABHI) — medium- to high-risk rating.
• BCE High Income Shares Ninepoint ETF (BCHI) — medium-risk rating.
• Cameco High Income Shares Ninepoint ETF (CCHI) — medium- to high-risk rating.
• Canadian Natural Resources High Income Shares Ninepoint ETF (CQHI) — medium- to high-risk rating.
• CNR High Income Shares Ninepoint ETF (CRHI) — medium- to high-risk rating.
• Enbridge High Income Shares Ninepoint ETF (ENHI) — medium-risk rating.
• RBC High Income Shares Ninepoint ETF (RYHI) — medium-risk rating.
• Shopify High Income Shares Ninepoint ETF (SHHI) — medium- to high-risk rating.
• Suncor High Income Shares Ninepoint ETF (SUHI) — medium- to high-risk rating.
• TD High Income Shares Ninepoint ETF (TDHI) — medium-risk rating.
• Enhanced Canadian High Income Shares Ninepoint ETF (ECHI) — medium-risk rating.

Separately, Ninepoint announced it was expanding access to five existing funds by launching ETF series for them.

The following funds are now available as ETFs on the TSX:

• Ninepoint Global Infrastructure Fund (TSX: INFR) — medium-risk rating, 1% management fee.
• Ninepoint Gold and Precious Minerals Fund (TSX: GLDE) — high-risk rating, 1.5% management fee.
• Ninepoint Gold Bullion Fund (TSX: GBUL) — medium-risk rating, 0.5% management fee.
• Ninepoint Silver Bullion Fund (TSX: SBUL) — high-risk rating, 0.85% management fee.
• Ninepoint Capital Appreciation Fund (TSX: NCAP) — low- to medium-risk rating, 0.95% management fee.

“From inflation-sensitive infrastructure and precious metals to long-term capital growth, these ETF series allow investors to efficiently allocate capital based on their portfolio goals and market outlook,” Fox said in a release.

Fidelity launches mutual fund with options-based equity strategy

Fidelity Investments Canada ULC has launched the Fidelity Equity Premium Yield ETF Fund.

The new mutual fund invests directly in the Fidelity Equity Premium Yield ETF (Cboe: FEPY, FEPY.U), which employs an options-based equity strategy, aiming to generate potentially higher levels of cash flow than equity-only strategies.

The funds also seek to achieve lower overall portfolio volatility relative to the S&P 500, a release said.

The new mutual fund has a 0.4% management fee, in addition to an administration fee.

First Trust rolls out long/short equity ETF

FT Portfolios Canada Co. has launched a new long/short equity ETF.

The First Trust Long/Short Equity ETF (TSX: FTLS) invests in both a long and short portfolio of U.S. exchange-listed equity securities and index future contracts, aiming to provide investors with “long-term total return,” a release said.

The fund will invest all or nearly all of its net assets in First Trust Long/Short ETF (NYSE: FTLS), a U.S.-listed ETF that’s managed by an affiliate of First Trust Canada and has a similar investment objective.

The ETF has a 0.15% management fee.

NBI announces fund merger, fee reductions for some funds

National Bank Investments Inc. (NBI) has announced a fund merger and fee reductions for several funds.

In a release, it said the NBI Global Real Assets Income ETF would be merged into the NBI Global Real Assets Income Fund, “which has an identical mandate,” on or about Oct. 24.

“Upon completion of the merger, unitholders will hold ETF series units of the continuing fund instead of ETF units of the terminating fund,” the release said.

NBI said the merger is part of its ongoing plans “to simplify and optimize its fund lineup.”

The terminating fund will be closed as soon as possible after the merger, which will come at no cost to investors.

Also, NBI has announced a slew of management and administration fee cuts for certain fund series.

A fund name change from Guardian Capital

Guardian Capital LP has announced a name change for one of its funds.

The Guardian Canadian Sector Controlled Equity Fund has been renamed the Guardian Canadian Diversified Core Equity Fund.

The investment objective, strategies, management and ticker symbol of the ETF units of the fund (TSX: GCSC) remain the same, a release said.

Invesco announces risk-rating changes

Invesco Canada has announced risk-rating changes for two of its mutual funds.

Series FH, H and PH of the Invesco Global Select Equity Class, along with series H of the Global Select Equity Fund, have been upped from medium to medium-to-high.

In a release, Invesco said the changes were made “in accordance with the risk classification methodology set by the Canadian Securities Administrators to determine the risk levels of funds.”

The investment objectives and strategies of these funds remain the same.

Scotia closes two funds

Scotia Global Asset Management has closed two funds.

In a release, it said the 1832 AM Canadian Dividend LP and 1832 AM Quantitative Canadian All Cap Equity Pool would be terminated on or about July 30.