NEO, Invesco launch four index PTFs

first_img BMO to launch six new mutual funds Keywords Fund launches,  Product,  Fund managersCompanies Aequitas NEO, Invesco Canada Ltd. Fidelity Investments unveils new climate-focused fund suite Invesco Ltd. has made four of its ETFs available as passive, index-tracking platform traded funds (PTFs) on NEO Exchange Inc.’s distribution platform.The group of funds includes two environmental, social and governance (ESG) funds — the Invesco S&P 500 ESG Index ETF Fund and Invesco S&P/TSX Composite ESG Index ETF Fund —and two funds from the QQQ Innovation suite, a release said. IE Staff new label Olivier Le Moal iStockphoto Share this article and your comments with peers on social media “This marks the first time a fund manufacturer has made passive index tracking mutual funds available in the form of PTFs to both IIROC and MFDA advisors,” the release said, adding that shares of the PTFs can be traded through all of the usual investment channels.While PTFs have generally been seen as “the most efficient vehicle for distributing, purchasing, and redeeming actively managed mutual funds,” this launch “will showcase their capabilities for passive, index tracking mutual funds as well,” said Jos Schmitt, president and CEO of NEO, in the release.With the new funds, NEO offers 85 PTF tickers from 15 asset managers across asset classes, and the funds have raised more than $1.6 billion in assets. Related news IG Wealth amends product shelf Facebook LinkedIn Twitterlast_img read more