CI First Asset and the TSX celebrate the launch of three ETFs.

To mark the occasion of the listing of three liquid alternative ETFs, Rohit Mehta, Executive Vice-President, CI Financial, and President, CI First Asset ETFs, and Graham Mackenzie, Head, ETFs, and Structured Products, Toronto Stock Exchange, opened the market on February 20. (Yahoo Finance)

First Asset is a CI Financial (TSX: CIX) company.

Alternative ETFs

Last month, we wrote about the launch of the three alternative asset ETFs by CI on the TSX. The three ETFs are (CI-):

• Lawrence Park Alternative Investment Grade Credit ETF (common units, TSX: CRED; US$ common units, TSX: CRED.U)
• Marret Alternative Absolute Return Bond ETF (common units, TSX: CMAR; US$ common units, TSX: CMAR.U), and
• Munro Alternative Global Growth ETF (TSX: CMAG).

Acquisition boosts ETF portfolio

CI Financial is a Canadian investment asset and wealth manager with AUM of $183 billion as of January 30, 2020.

Concurrently,  the asset manager announced the completion of its acquisition of WisdomTree Asset Management Canada, Inc., a unit of WisdomTree Investments, Inc. The transaction adds 14 Toronto Stock Exchange-listed ETFs with about $1 billion in assets under management to its portfolio of ETFs – increasing its ETF assets to over $10 billion.

“With over 55 mandates and $10 billion in assets, we are well-positioned in the ETF market with size, scale and breadth of products,” said Kurt MacAlpine, Chief Executive Officer. “As a client-focused organization, we are offering its solutions in a variety of investment structures, including ETFs, so that investors can access our capabilities in the structure they prefer.”

The names of WisdomTree Canada’s ETFs will be changed effective March 4, 2020, to reflect the change in ownership.

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