Capital Group Canada announced it has launched a series of exchange traded funds (ETFs) on the Toronto Stock Exchange.
In a press release Thursday, the company said the group of ETFs is comprised of two equity and two fixed income strategies, all which closed their initial offering of units on Tuesday. The company is part of global investment management firm Capital Group, based in Los Angeles. As of June, Capital Group manages over US$2.7 trillion globally in equity and fixed income assets. Its assets include 21 ETFs in the U.S.
“Our new suite of ETFs provides one more way for investors to access our active management capabilities in the vehicle they want – whether through mutual funds or ETFs,” Rick Headrick, president of Capital Group Canada, said in the press release.
“Our ETFs are designed to focus on the major asset allocation categories used by financial professionals when constructing client portfolios and offer exposure to Capital Group’s distinctive investment approach and 90-years of investment experience.”
According to the release, the group of products includes Capital Group Global Equity Select ETF, Capital Group International Equity Select ETF, Capital Group Multi-Sector Income Select ETF and Capital Group Multi-Sector Income Select ETF.
The Capital Group Global Equity Select ETF is focused on long-term capital growth by investing in common stocks, including growth and global stocks, the release said. The Capital Group International Equity Select ETF focuses on capital growth though investments in a portfolio comprised mainly of equites of “large capitalization issuers located outside North America.”
According to the release, the Capital Group Multi-Sector Income Select ETF invests in a broad range of bonds and other debt securities, while the Capital Group World Bond Select ETF mainly invests in bonds and other debts securities of global issuers.
“Globally, our ETFs are built with input from financial advisors to support their efforts to help their clients achieve their financial goals, whether it’s to achieve financial stability, support their families, or retire comfortably,” Holly Framsted, head of global product strategy and development at Capital Group, said in the release.
“The first four ETFs for Canadian investors were carefully chosen to be important building blocks for the core of a client’s portfolio.”