Redwood to launch series of active income ETFs on NEO

Mar 1st, 2017 | By | Category: ETF and Index News

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Toronto-based Redwood Asset Management has gained approval to launch four new ETFs on the Aequitas NEO Exchange in Canada. The funds will be actively managed ETF versions of four of the firm’s existing income strategy mutual funds, targeting Canadian preferred shares, US preferred shares, high dividend emerging markets equities, and an unconstrained bond portfolio. The launch will mark the first ETFs to be provided by Redwood.

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Redwood will launch four active strategy income ETFs consisting of 6 different listings on the NEO Exchange.

“Offering ETF series of these successful, actively managed mandates has always been a part of our long-term plans for growth,” said Peter Shippen, President, Redwood Asset Management. The ETFs that have been granted conditional approval are the Redwood Floating Rate Preferred Fund (RPS), the Redwood U.S. Preferred Share Fund (RPU), the Redwood Emerging Markets Dividend Fund (REM), and the Redwood Unconstrained Bond Fund (RUB).

“There has been a significant evolution in the investment fund industry, and ETFs are now an integral part of the portfolio strategy of many Canadian investors. This launch represents not only a necessary extension of distribution for Redwood’s unique strategies, but also an expansion of access and choice for investors seeking truly active ETFs,” stated Shippen.

Jos Schmitt, President and CEO of NEO Exchange added, ““At NEO, we are committed to doing things differently to build a level playing field for investors and to ensure public companies and investment products have the liquidity they need to succeed. We are not constrained by conventional wisdom and have found a forward-looking partner in Redwood who also believes in unconstrained thinking to deliver innovative investment mandates.”

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