Aequitas NEO Exchange or NEO has announced that Invesco Canada Ltd. (Invesco) is expanding its presence on the NEO Exchange and has applied to list two new PowerShares ETFs. The firm has also received approval to list two new series of its NEO-listed PowerShares DWA Global Momentum Index ETF (DWG).
PowerShares Canada has filed a preliminary prospectus with Canadian securities regulators for PowerShares S&P 500 High Dividend Low Volatility Index ETF and PowerShares S&P Global ex. Canada High Dividend Low Volatility Index ETF (collectively, the PowerShares ETFs). Subject to receiving regulatory and NEO Exchange approval, the following PowerShares ETFs are expected to launch during the first half of 2017:
|
Fund name |
CAD Series Ticker |
USD Series Ticker |
CAD Hedged Series Ticker |
|
PowerShares S&P 500 High Dividend Low Volatility Index ETF |
UHD |
UHD.U |
UHD.F |
|
PowerShares S&P Global ex. Canada High Dividend Low Volatility Index ETF |
GHD |
– |
GHD.F |
Invesco has also received approval to list two new series of DWG on the NEO Exchange, which will provide investors with the ability to purchase DWG in U.S. dollars (DWG.U) and in a Canadian-dollar-hedged version (DWG.F). These new series are expected to begin trading in the coming weeks.
We have seen firsthand that NEO offers enhanced transparency and a choice in service models that benefit Canadian investors, said Christopher Doll, Vice President, Product and Business Strategy, PowerShares Canada. Our decision to apply to list additional ETFs on NEO was driven by the efficiencies, quality of service and cost reductions that NEO has provided to the Canadian ETF industry. We look forward to strengthening our listing partnership in 2017.
Invesco was the first company to list securities on NEO and continues to champion competition in Canadas capital markets. The PowerShares ETFs will be joined on NEO by four planned Redwood Asset Management ETFs, consisting of six ETF listings and BlackRock Canadas planned migration of certain iShares ETFs from the TSX to NEO.
Invesco has been a true partner in helping us bring competition, innovation and a different set of values to the Canadian stock exchange space, stated Jos Schmitt, President and Chief Executive Officer, NEO Exchange. We are pleased they have decided to launch new ETFs with us and expand the currently listed DWG family. Invesco was a trailblazer in welcoming competition to the ETF trading landscape and has led the way for other fund providers to do the same.
Invesco is a shareholder of Aequitas Innovations Inc., the parent company of NEO. Peter Intraligi, President of Invesco Canada and Head of North American Retail Distribution, is a director of Aequitas Innovations.
Invesco and PowerShares Canada are registered business names of Invesco Canada Ltd.
