BMO GLOBAL ASSET MANAGEMENT
Contact: Kevin Prins
Managing Director & Head, ETF & Managed Accounts Distribution
Address: 100 King Street West, Toronto, ON M5X 1A1
PH: 416-947-3703
Email: [email protected]
Web: bmogam.com
Ownership structure:
Third Party: 100% (BMO Financial Group)
Number of investment professionals: 13
Established: 1982*
*BMO GAM was established in 1982, while BMO ETFs were launched in 2009
Minimum investment for institutions: Negotiable
Minimum subsequent investment for institutions: Negotiable
Management style: Active, strategic beta, traditional index, other – factor, alternative asset classes, and alternative strategies
Canadian institutional funds: 145 Exchange Traded Funds (ETFs)
Fund assets:
Canadian equities: $25,667M; Fixed income: $27,818M; US equities: $27,684M; Global equities: $12,811M; Multi-asset: $622M; Emerging markets: $1,502M; Other:* $1,402M (Money market AUM)
Total assets managed: $97,510M
Asset flows:
Inflows: $3,098,088,000M (netflows)
New products planned in 2024:
Information relating to funds which have yet to be launched cannot be disclosed. We have recently launched the BMO Physical Gold ETFs; ZGLD/ZGLH (Hedged) in 2024. Additionally, a Prospectus has been filed to launch two new buffer ETFs,one in April 2024 and one in July 2024.
Products Launched in 2023: BMO US Aggregate Bond Index ETF ZUAG, BMO US Aggregate Bond Index ETF (Hedged Units) ZUAG.F, BMO US Aggregate Bond Index ETF (USD Units) ZUAG.U, BMO US TIPS Index ETF TIPS, BMO US TIPS Index ETF (Hedged Units) TIPS.F, BMO US TIPS Index ETF (USD Units) TIPS.U, BMO Global Agriculture ETF ZEAT, BMO Covered Call Health Care ETF ZWHC, BMO Covered Call Energy ETF ZWEN, BMO Growth ETF (Fixed Percentage Distribution Units) ZGRO.T, BMO U.S. Equity Growth MFR Fund ETF Series ZUGE, BMO U.S. Equity Value MFR Fund ETF Series ZUVE, BMO Global REIT Fund Active ETF Series BGRT, BMO Global Health Care Fund Active ETF Series BGHC, BMO Global Infrastructure Fund Active ETF Series BGIF, BMO Global Innovators Fund Active ETF Series BGIN, BMO Global Equity Fund Active ETF Series BGEQ, BMO Global Enhanced Income Fund ETF Series ZWQT, BMO Long Short Canadian Equity ETF ZLSC, BMO Long Short US Equity ETF ZLSU, BMO US Equity Buffer Hedged to CAD ETF – October ZOCT, BMO US Equity Accelerator Hedged to CAD ETF ZUEA ,BMO Canadian Banks Accelerator ETF ZEBA, BMO S&P/TSX 60 Index ETF ZIU, BMO USD Cash Management ETF ZUCM, BMO USD Cash Management ETF ZUCM.U, BMO Global Dividend Opportunities Fund Active ETF Series BGDV
Benchmarks tracked:
BMO Global Asset Management tracks a number of benchmarks from the following benchmark index families: FTSE Canada Index, Solactive Index, Bloomberg Index, Standard & Poors Index, Dow Jones Index, FTSE Index, MSCI Index, NASDAQ Index
Transparency rules:
For our ETFs, full portfolio holdings are disclosed daily and are publicly available on our website: https://www.bmo.com/gam/ca/advisor/products/etfs#--tabs-1553694970691-. Some of our active mandates, however, will only show Top 10 monthly holdings, as opposed to the entire portfolio.
Average MER: 0.37%
NOTES: Local ETF expertise is available across Canada.
CIBC Asset Management
Contact: Carlo DiLalla
Managing Director & Head, Institutional Asset Management
Address: 161 Bay St, Suite 2230 Toronto, ON, M5J 2S1
PH: 416-980-2768
Email: [email protected]
Web: cibcam-institutional.com
Ownership structure: Third party, 100%. CIBC Asset Management Inc. is a wholly owned subsidiary of the Canadian Imperial Bank of Commerce (CIBC), a widely held, publicly traded company.
Number of investment professionals: 8
Established: 1972
Management style: Active, strategic beta, traditional index
Other management styles: CIBC ETF range offers a diverse range of manager styles including beta, quantitative, and active equity/fixed income
Canadian institutional clients: 1
Canadian institutional funds: CIBC ETFs are exchange traded and are available to a wide range of investors – retail and institutional
Fund assets: Canadian Equities, $252M; US Equities, $272M; Global Equities, $79M; Emerging Markets Equities, $60M; Fixed Income, $1,986M; Other, $289M; Total assets managed, $2,938M
Asset flows: Inflows, $370M; Outflows, $221M
New products planned in 2024: We are expanding our ETF offerings with eight to 10 new products expected to launch in 2024
Products launched in 2023: CIBC Canadian Short-Term Bond Index (CSBI), CIBC US Equity Index ETF (CAD-Hedged) (CUEH), and CIBC International Equity Index ETF (CAD-Hedged) (CIEH). We plan to build out our ETF into 2024 with additional launches (i.e. active)
Benchmarks tracked: Morningstar® Canada Core Bond Index™, Morningstar® Canada 1-5 Yr Core Bond Index™, Morningstar® Global ex-Canada Core Bond Hedged CAD Index™, Morningstar® Canada Domestic Index™, Morningstar® US Target Market Exposure Index™, Morningstar® Developed Markets ex-North America Target Market Exposure Index, Morningstar® Emerging Markets Target Market Exposure Index™, CIBC Atlas Clean Energy Select Index, Morningstar® Developed Markets ex-North America Target Market Exposure Hedged CAD Index™, and Morningstar® US Target Market Exposure Hedged CAD Index™
Transparency rules: The ETF dashboard allows investors to access daily price, performance, and outstanding shares, historical prices, monthly NAVPS, fund profiles, monthly portfolio details (Top 10 holdings, sector breakdown, country mix), and quarterly commentary. The disclosure of portfolio holdings to investors within the investment fund marketplace in Canada and in other jurisdictions is governed by regulatory requirements in respect of the disclosure of investment funds’ full and partial portfolio holdings. With the exception of ETF Investment Management, Subsidiaries have policies in place which provide guidelines for which the Subsidiary may disclose holdings to prospective institutional clients, consultants, rating Organizations, and analytical service providers.
Management fees: Average management fees, 0.28%; Average MER, 32 basis points
CI FINANCIAL
Contact: Sandip Chowdhury
Associate Director
Address: 15 York St, Toronto, ON, M5J 0A3
PH: 647-625-5695
Email: [email protected]
Web: ci.com
Ownership structure: Principals, 14.28%; Third party, 85.72%
Number of investment professionals: 93
Established: 1965
Management style: Active, strategic beta, traditional index
Canadian institutional clients: 74
Fund assets: Canadian equities, $299M; US equities, $48M; Global equities, $337M; Emerging markets equities, $38M; Fixed income, $1388M; Multi-asset, $4914M; Other, $206M
Total assets managed: $7230M
Products launched in 2023: CI Private Markets Income Fund; CI Private Markets Growth Fund; CI Canadian Banks Covered Call Income Corp Class; CI Energy Giants Covered Call Fund; CI Gold+ Giants Covered Call Fund; CI Tech Giants Covered Call Fund
Canadian domiciled mandate mix:
Bank/dealer, $170M; DB, $1,117M; DC/GRS, $1,837M; Endowment/foundation, $252M; First Nations, $92M; Insurance, $2,550M; LDI, $1,072M; Private client/family office/HNW, $120M; Other, $20M
Management fees:
Average management fees: Negotiable
Average MER: Negotiable
Desjardins Global Asset Management
Contact: Natalie Bisaillon
Vice President, Chief of Partnerships and Institutional Client Relations
Address: 1, Complexe Desjardins, 20th Floor, South Tower, Montreal, Québec, H5B 1B2
PH: 514-214-5742
Fax: 514-281-7253
Email: [email protected]
Web: dgam.ca
Ownership structure: Third party, 100%. Desjardins Global Asset Management is a wholly owned subsidiary of the Desjardins Group.
Number of investment professionals: 20
Established: 1998
Management style: Active, strategic beta, traditional index
Other management styles: Quantitative
Canadian institutional clients: 32
Canadian institutional funds: Desjardins Canadian Universe Bond Index ETF; Desjardins Canadian Short Term Bond Index ETF; Desjardins One-to-Five-Year Laddered Canadian Government Bond Index ETF; Desjardins One-to-Five-Year Laddered Canadian Corporate Bond Index ETF; Desjardins Canadian Preferred Share Index ETF; Desjardins RI Active Canadian Bond – Net-Zero Emissions Pathway ETF; Desjardins RI Canada – Net-Zero Emissions Pathway ETF; Desjardins RI USA – Net-Zero Emissions Pathway ETF; Desjardins RI Developed ex-USA ex-Canada – NetZero Emissions Pathway ETF; Desjardins RI Emerging Markets – Net-Zero Emissions Pathway ETF; Desjardins RI Canada Multifactor – Net-Zero Emissions Pathway ETF; Desjardins RI USA Multifactor – Net-Zero Emissions Pathway ETF; Desjardins RI Developed ex-USA ex-Canada Multifactor – Net-Zero Emissions Pathway ETF; Desjardins RI Emerging Markets Multifactor – Net-Zero Emissions Pathway ETF; Desjardins RI Global Multifactor Fossil Fuel Reserves Free ETF; Desjardins SocieTerra American Equity ETF; Desjardins Alt Long/Short Equity Market Neutral ETF; Desjardins Alt Long/Short Equity Market Neutral ETF – US$ Hedged; Desjardins Alt Long/Short Global Equity Markets ETF – CA$ Hedged; Desjardins Alt Long/Short Global Equity Markets ETF – US$ Hedged
Fund assets: Canadian Equities, $771M; US Equities, $272M; Global Equities, $245M; Emerging Markets Equities, $181M; Fixed Income, $403M; Total Assets Managed, $1,872M
Asset flows: Inflows, $669M; Outflows, $531M
New products planned in 2024: DCBC ETF, DMEC ETF, DMEU ETF, DMEI ETF, DMEE ETF
Benchmarks tracked: Solactive Canadian Bond Universe TR Index Solactive Short-Term Canadian Bond Universe TR Index Solactive 1-5 Year Laddered Canadian Government Bond TR Index Solactive 1-5 Year Laddered Canadian Corporate Bond TR Index Solactive Canadian Rate Reset Preferred Share TR Index
Transparency rules: Positions published on website. For active ETFs, positions are published with a 30-day lag
Canadian domiciled mandate mix by client type: Property and casualty and life and health insurance companies; Pension funds; Foundations; Trust companies; Investment funds; Private companies; Public sector entities
Worldwide breakdown of firm by each domiciled region: All our institutional clients are Canadian domiciled
Asset distribution by relationship size for Canadian domiciled clients: Fixed income, $66.8B; equities, $11.9B; real estate, $3.6B; infrastructure, 8B
Management fees: Average management fees, 0.45%; Average MER, 0.54 basis points
Franklin Templeton
Contact: Bobby Eng
Head of Institutional ETFs Canada
Address: 200 King Street West, Suite 1400, Toronto, ON M5H 3T4
PH: 416-957-6000
Email: [email protected]
Web: franklintempleton.ca
Ownership structure: Principals, 36%; Publicly held, 64%
Number of investment professionals: 20
Established: 1940
Management style: Active, strategic beta, traditional index
New products planned in 2024: Franklin Canadian Low Volatility High Dividend Index ETF (FLVC); Franklin US Low Volatility High Dividend Index ETF (FLVU); Franklin International Low Volatility High Dividend Index ETF (FLVI); Franklin Canadian Government Bond Fund – ETF Series (FGOV); Franklin Conservative Income ETF Portfolio – ETF Series; Franklin Core ETF Portfolio – ETF Series; Franklin Growth ETF Portfolio – ETF Series; Franklin All-Equity ETF Portfolio – ETF Series
Benchmarks tracked: FTSE Canada All Cap Domestic Index, S&P/TSX Composite Index, FTSE US Index, Russell 1000® Index, Russell 3000 Index, FTSE Japan Index, Solactive GBS Developed Markets ex North America Large & Mid Cap CAD Index, Solactive GBS Emerging Markets Large & Mid Cap CAD Index, MSCI World Index-NR, Russell 1000 Growth Index, MSCI EAFE Index, MSCI ACWI ex-REITs Index, MSCI EAFE IMI Index, S&P 500 Total Return Index, FTSE Canada 0-1 Year Universe Overall Bond Index, FTSE Canada Short Term Overall Bond Index, FTSE Canada Universe Bond Index, Bloomberg Barclays Global Aggregate (100% Hedged into CAD) Index, Bloomberg US Aggregate Index (Hedged to CAD), FTSE Canada All Corporate Bond Index, FTSE Canada All Government Bond Index, S&P Global Infrastructure Index
Transparency rules: Passive, Smart Beta, non-feeder active, fully transparent; Feeder of mutual fund ETFs, non-transparent
Management fees: Management fees vary by ETF
Global X Investments Canada Inc.
Contact: Emerson Baker, CFA
VP, Institutional Sales and National Accounts
Address: 55 University Ave., Suite 800, Toronto, ON M5E 1S2
PH: 416-777-9524
Email: [email protected]
Web: globalx.ca
Number of investment professionals: 75
Established: 2013
Management style: Active, traditional index
Fund assets: Canadian Equities, $6,950,624,235M; US Equities, $4,914,868,729M; Global Equities, $1,265,654,627M; Emerging Markets Equities, $87,763,617M; Fixed Income, $7,616,681,457M; Commodities, $702,783,787M; Multi-Asset, $423,537,458; Cash/Cash Equivalents, $8,179,938,144M; Currency, $185,057,109M; Total Assets Managed, $30,474,817,354M
Asset flows: Inflows, $9,296,158,026M; Outflows, $13,046,141,877M
New products planned in 2024: Global X S&P 500 Index ETF; Global X S&P/TSX 60 Index ETF; Global X NASDAQ 100 Index ETF; Global X MSCI EAFE Index ETF; Global X MSCI Emerging Markets Index ETF; Global X Artificial Intelligence & Technology Index ETF; Global X Bluechip Innovation Tech Top 10 Index ETF; Global X India Nifty 50 Index ETF; Global X MSCI EAFE Covered Call ETF; Global X MSCI Emerging Markets Covered Call ETF; Global X Short-Term Government Bond Premium Yield ETF; Global X All-Equity Asset Allocation Covered Call ETF
Products launched in 2023: Horizons Equal Weight Banks Index ETF; Horizons 0-3 Month T-Bill ETF; Horizons 0-3 Month US T-Bill ETF; Horizons Short-Term US Treasury Premium Yield ETF; Horizons Mid-Term US Treasury Premium Yield ETF; Horizons Long-Term US Treasury Premium Yield ETF; Horizons Growth Asset Allocation ETF; Horizons Growth Asset Allocation Covered Call ETF; Horizons Enhanced All-Equity Asset Allocation Covered Call ETF; Horizons Enhanced Equal Weight Banks Index ETF; Horizons Enhanced Equal Weight Canadian Banks Covered Call ETF; Horizons Enhanced S&P/TSX 60 Index ETF
Benchmarks tracked: S&P/TSX 60 Index; S&P 500 Index; MSCI Emerging Markets Index; MSCI EAFE Index; NASDAQ-100 Index
Transparency rules: Fully transparent
Management fees: Average management fees, 0.43%; Average MER, 0.48% basis points