Announcements
The Caisse and National Bank announce a $30 million investment to support the creation of a new Québec exchange-traded fund
"This new fund, composed exclusively of Québec securities, will be intended to promote the growth and recognition of Québec-based companies both locally and in the international financial community," explained Jean-Luc Gravel, Executive Vice-President, Equity Markets at the Caisse. "In spring 2011, the Caisse had announced that its reference index for this Canadian Equity portfolio would now integrate the new Morningstar National Bank Québec Index. By investing $15 million in this new fund—based on this index—the Caisse is reaffirming its commitment to support the reputation of growth-driven companies."
"This is the very first ETF to allow the individual and any other investor to be exposed to close to sixty Québec-based companies—in one single step," said Laurent Ferreira, Executive Vice-President and Managing Director, Derivatives at National Bank.
BlackRock buys Toronto-based Claymore Investments
BlackRock Inc. is forging ahead with ambitious growth plans for the Canadian market, striking a deal for Claymore Investments Inc. that unites the country’s top two sellers of exchange-traded funds.
The deal between BlackRock, the world’s biggest asset manager, and Claymore comes just after U.S. fund powerhouse Vanguard Group Inc. made its assault on Canada last month with its first suite of low-fee ETFs that compete directly against BlackRock’s iShares offerings.
Read more: BlackRock buys Toronto-based Claymore Investments
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