BMO GLOBAL ASSET MANAGEMENT
Contact: Daniel Stanley, Managing Director & Head, Institutional Sales & Service
Address: 100 King Street West, Toronto, ON,
M5X 1A1
PH: 416-947-3012
Email: [email protected]
Web: bmogam.com
Ownership structure: Principals, 100%
Number of investment professionals: 13
Established: 1982* (*BMO GAM was established in 1982, while BMO ETFs were launched in 2009)
Minimum investment for institutions: Negotiable
Minimum subsequent investment for institutions: Negotiable
Management style: Active, strategic beta, traditional index
Other management styles: Factor, alternative asset classes, and alternative strategies
Canadian institutional funds: Our ETF line-up includes 195 tickers (as of December 31, 2024).
Fund assets: Canadian equities, $29,714,252,791; Fixed income, $35,098,108,932; US equities, $38,715,833,036; Global equities, $14,924,116,779; Multi-asset, $973,196,309; Emerging markets, $1,707,116,539; Other, $4,576,054,408
Total assets managed: $125,708,678,796
Asset flows: Inflows, $15,902,207,493 (netflows)
New products planned for 2025: Information relating to funds that are yet to be launched cannot be disclosed. We have recently launched the below ETFs with both unhedged and hedged to CAD (.F) versions. We have also filed the prospectus for three Target Maturity Fixed Income ETFs.
ZXLC |ZXLC.F – BMO SPDR Communication Services Select Sector Index ETF; ZXLY |ZXLY.F – BMO SPDR Consumer Discretionary Select Sector Index ETF; ZXLP |ZXLP.F – BMO SPDR Consumer Staples Select Sector Index ETF; ZXLE |ZXLE.F – BMO SPDR Energy Select Sector Index ETF; ZXLF |ZXLF.F – BMO SPDR Financials Select Sector Index ETF; ZXLV |ZXLV.F – BMO SPDR Health Care Select Sector Index ETF; ZXLI |ZXLI.F – BMO SPDR Industrials Select Sector Index ETF; ZXLB |ZXLB.F – BMO SPDR Materials Select Sector Index ETF; ZXLR |ZXLR.F – BMO SPDR Real Estate Select Sector Index ETF; ZXLK |ZXLK.F – BMO SPDR Technology Select Sector Index ETF; ZXLU |ZXLU.F – BMO SPDR Utilities Select Sector Index ETF
Products launched in 2024: ZIQ - BMO MSCI EAFE High Quality Index ETF CAD ZJUL - BMO US Equity Buffer Hedged to CAD ETF - July CAD ZAPR - BMO US Equity Buffer Hedged to CAD ETF - April CAD ZGLH - BMO Gold Bullion Fund - Hedged to CAD ZGLD - BMO Gold Bullion ETF CAD ZGLD.U - BMO Gold Bullion ETF (USD Units) USD ZJAN - BMO US Equity Buffer Hedged to CAD ETF – January CAD
Benchmarks tracked: BMO Global Asset Management tracks a number of benchmarks from the following benchmark index families: FTSE Canada Index, Solactive Index, Bloomberg Index, Standard & Poor’s Index, Dow Jones Index, FTSE Index, MSCI Index, NASDAQ Index.
Transparency rules: For our ETFs, full portfolio holdings are disclosed daily and are publicly available on our website: bmo.com/gam/ca/advisor/products/etfs#--tabs-1553694970691-. Some of our active mandates, however, will only show Top 10 monthly holdings, as opposed to the entire portfolio.
Management fees: Average MER, 0.24%
Note: Local ETF expertise is available across Canada.
Important Information: Commissions, management fees, and expenses all may be associated with investments in exchange-traded funds. Please read the ETF Facts or simplified prospectus of the BMO ETFs before investing. Exchange-traded funds are not guaranteed, their values change frequently, and past performance may not be repeated. For a summary of the risks of an investment in the BMO ETFs, please see the specific risks set out in the BMO ETF’s simplified prospectus. BMO ETFs trade like stocks, fluctuate in market value, and may trade at a discount to their net asset value, which may increase the risk of loss. Distributions are not guaranteed and are subject to change and/or elimination. BMO ETFs are managed by BMO Asset Management Inc., which is an investment fund manager and a portfolio manager, and a separate legal entity from Bank of Montreal. “BMO (M-bar roundel symbol)” is a registered trademark of Bank of Montreal, used under licence.
CIBC ASSET MANAGEMENT
Contact: Carlo DiLalla, CFA, Managing Director and Head, Institutional Asset Management
Address: 161 Bay Street, Suite 2230, Toronto, ON, M5J 2S1
PH: 416-980-2768
Email: [email protected]
Web: cibcam-institutional.com
Ownership structure: Third party, 100%, CIBC Asset Management Inc. is a wholly owned subsidiary of the Canadian Imperial Bank of Commerce (CIBC), a widely held, publicly traded company.
Number of investment professionals: 10
Established: 1972
Management style: Active, strategic beta, traditional index
Other management styles: CIBC ETF range offers a diverse range of manager styles, including broad-market index, quantitative and active equity/fixed income, and multi-asset portfolios.
Canadian institutional clients: 1
Canadian institutional funds: CIBC ETFs are exchange traded and are available to a wide range of investors – retail and institutional
Fund assets: Canadian equities, $480M; US equities, $752M; Global equities, $108M; Emerging markets equities, $78M; Fixed income, $2,648M; Other, $446M
Total assets managed: $4,512M
Asset flows: Inflows, $1,576.2M; Outflows, $283.0M
New products planned for 2025: We are expanding our ETF offerings with 8–10 new products expected to launch in 2025.
Products launched in 2024: 9 new ETFs launched: CIBC 2025 Investment Grade Bond Fund – ETF Series (CTBA); CIBC 2026 Investment Grade Bond Fund – ETF Series (CTBB); CIBC 2027 Investment Grade Bond Fund – ETF Series (CTBC); CIBC 2028 Investment Grade Bond Fund – ETF Series (CTBD); CIBC 2029 Investment Grade Bond Fund – ETF Series (CTBE); CIBC 2030 Investment Grade Bond Fund – ETF Series (CTBF); CIBC 2025 US Investment Grade Bond Fund – ETF Series (CTUC.U); CIBC 2026 US Investment Grade Bond Fund – ETF Series (CTUD.U); CIBC 2027 US Investment Grade Bond Fund – ETF Series (CTUE.U). We plan to build out our ETF line-up into 2025 with additional launches.
Benchmarks tracked: Morningstar® Canada Core Bond Index™, Morningstar® Canada 1–5 Yr Core Bond Index™, Morningstar® Global ex-Canada Core Bond Hedged CAD Index™, Morningstar® Canada Domestic Index™, Morningstar® US Target Market Exposure Index™, Morningstar® Developed Markets ex-North America Target Market Exposure Index, Morningstar® Emerging Markets Target Market Exposure Index™, CIBC Atlas Clean Energy Select Index, Morningstar® Developed Markets ex-North America Target Market Exposure Hedged CAD Index™, Morningstar® US Target Market Exposure Hedged CAD Index™
Transparency rules: The ETF dashboard allows investors to access daily price, performance and outstanding shares, historical prices, monthly NAVPS, fund profiles, monthly portfolio details (Top 10 holdings, sector breakdown, country mix), and quarterly commentary.
The disclosure of portfolio holdings to investors within the investment fund marketplace in Canada and in other jurisdictions is governed by regulatory requirements in respect of the disclosure of investment funds’ full and partial portfolio holdings. With the exception of ETF investment management, subsidiaries have policies in place providing guidelines for disclosure to prospective institutional clients, consultants, rating organizations, and analytical service providers.
Canadian domiciled mandate mix by client type: For ETFs that trade on the exchange, we don’t have the same granularity on ownership details as we do for mutual funds.
Worldwide breakdown of firm by each domiciled region: For ETFs that trade on the exchange, we don’t have the same granularity on ownership details as we do for mutual funds.
Management fees: Average management fee, 0.25%; average MER, 0.29%. Management fees range from 4bps to 80bps for active ETFs.
DESJARDINS GLOBAL ASSET MANAGEMENT
Contact: Natalie Bisaillon, Vice President & Chief of Partnerships & Institutional Client Relations
Address: 1, Complexe Desjardins, 20th Floor, South Tower, Montréal, QC, H5B 1B2
PH: 514-214-5742
Fax: 514-281-7253
Email: [email protected]
Web: desjardins.com/dgam
Ownership structure: Third party, 100%. Desjardins Global Asset Management is part of the Desjardins Movement, a financial services cooperative that belongs to its members.
Number of ETF investment professionals: 20
Established: 1998
Management style: Active
Canadian institutional clients: 38
Canadian institutional funds: Desjardins Canadian Universe Bond Index ETF; Desjardins Canadian Short Term Bond Index ETF; Desjardins 1–5 Year Laddered Canadian Government Bond Index ETF; Desjardins Canadian Corporate Bond Index ETF; Desjardins 1–5 Year Laddered Canadian Corporate Bond Index ETF; Desjardins Canadian Preferred Share Index ETF; Desjardins RI Active Canadian Bond – Net-Zero Emissions Pathway ETF; Desjardins Canadian Equity Index ETF; Desjardins American Equity Index ETF; Desjardins International Equity Index ETF; Desjardins RI Canada – Net-Zero Emissions Pathway ETF; Desjardins RI USA – Net-Zero Emissions Pathway ETF; Desjardins RI Developed ex-USA ex-Canada – Net-Zero Emissions Pathway ETF; Desjardins RI Emerging Markets – Net-Zero Emissions Pathway ETF; Desjardins RI Canada Multifactor – Net-Zero Emissions Pathway ETF; Desjardins RI USA Multifactor – Net-Zero Emissions Pathway ETF; Desjardins RI Developed ex-USA ex-Canada Multifactor – Net-Zero Emissions Pathway ETF; Desjardins RI Emerging Markets Multifactor – Net-Zero Emissions Pathway ETF; Desjardins RI Global Multifactor Fossil Fuel Reserves Free ETF; Desjardins SocieTerra American Equity ETF; Desjardins Alt Long/Short Equity Market Neutral ETF; Desjardins Alt Long/Short Equity Market Neutral ETF – US$ Hedged; Desjardins Alt Long/Short Global Equity Markets ETF – CA$ Hedged; Desjardins Alt Long/Short Global Equity Markets ETF – US$ Hedged
Fund assets: Canadian equities, $664M; US equities, $1,652M; Global equities, $1,015M; Emerging markets equities, $146M; Fixed income, $1,048M
Total assets managed: $4,525M
Asset flows: Inflows, $3,215M; outflows, $1,037M
Products launched in 2024: 5
Benchmarks tracked: Solactive Canadian Bond Universe TR Index; Solactive Short-Term Canadian Bond Universe TR Index; Solactive 1–5 Year Laddered Canadian Government Bond TR Index; Solactive 1–5 Year Laddered Canadian Corporate Bond TR Index; Solactive Canadian Rate Reset Preferred Share TR Index; Solactive Canadian Bond Universe Corporate TR Index; Solactive Canada Broad Market Index (CA NTR); Solactive GBS United States 500 CAD Index (CA NTR); Solactive GBS Developed Markets ex North America Large & Mid Cap CAD Index (CA NTR)
Transparency rules: Positions are published on the website. For active ETFs, positions are published with a 30-day lag.
Canadian domiciled mandate mix by client type: Property and casualty and life and health insurance companies; pension funds; foundations; trust companies; investment funds; private companies; public sector entities
Worldwide breakdown of firm by each domiciled region: All institutional clients are Canadian domiciled
Asset distribution by relationship size for Canadian domiciled clients: Fixed income, $73.2B; Equities, $36.3B; Real estate, $3.6B; Infrastructure, $5.7B
Management fees: Average management fee, 0.22%; average MER, 0.25%
FRANKLIN TEMPLETON
Contact: Bobby Eng, Head of Institutional ETFs Canada
Address: 200 King Street West, Suite 1400, Toronto, ON, M5H 3T4
PH: 416-957-6000
Email: [email protected]
Web: franklintempleton.ca
Ownership structure: Principals, 36%; Publicly held, 64%
Number of ETF investment professionals: 20
Established: 1940
Management style: Active, strategic beta, traditional index
New products planned for 2025: Franklin U.S. Mid Cap Multifactor Index ETF (FMID) – launched in January
Products launched in 2024: Franklin Canadian Low Volatility High Dividend Index ETF (FLVC); Franklin U.S. Low Volatility High Dividend Index ETF (FLVU); Franklin International Low Volatility High Dividend Index ETF (FLVI); Franklin Canadian Government Bond Fund – ETF Series (FGOV); Franklin Conservative Income ETF Portfolio – ETF Series (CNV); Franklin Core ETF Portfolio – ETF Series (CBL); Franklin Growth ETF Portfolio – ETF Series (GRO); Franklin All-Equity ETF Portfolio – ETF Series (EQY)
Benchmarks tracked: FTSE Canada All Cap Domestic Index; S&P/TSX Composite Index; FTSE U.S. Index; Russell 1000® Index; Russell 3000 Index; FTSE Japan Index; Solactive GBS Developed Markets ex North America Large & Mid Cap CAD Index; Solactive GBS Emerging Markets Large & Mid Cap CAD Index; MSCI World Index-NR; Russell 1000 Growth Index; MSCI EAFE Index; MSCI ACWI ex-REITs Index; MSCI EAFE IMI Index; S&P 500 Total Return Index; FTSE Canada 0–1 Year Universe Overall Bond Index; FTSE Canada Short Term Overall Bond Index; FTSE Canada Universe Bond Index; Bloomberg Barclays Global Aggregate (100% Hedged into CAD) Index; Bloomberg U.S. Aggregate Index (Hedged to CAD); FTSE Canada All Corporate Bond Index; FTSE Canada All Government Bond Index; S&P Global Infrastructure Index; Russell Mid Cap Index
Transparency rules: Passive, smart beta, non-feeder active are fully transparent. Feeder of mutual fund ETFs – non-transparent
Management fees: Average management fees: 28bps
GLOBAL X INVESTMENTS CANADA INC.
Contact: Raghav Mehta, CFA
Vice President, ETF Strategist
Address: 55 University Ave., Suite 800, Toronto, ON, M5E 1S2
PH: 416-640-2936
Email: [email protected]
Web: globalx.ca
Ownership structure: Global X Investments Canada Inc. is a wholly owned subsidiary of Mirae Asset Global Investments Co., Ltd. and is a corporation existing under the laws of Canada. Global X is the manager, investment manager and trustee of the Global X Funds.
Number of ETF investment professionals: 11
Established: 2005
Management style: Active, traditional index
Fund assets: Canadian equities, $9,032,971,892; US equities, $8,177,093,589; Global equities, $2,344,766,468; Emerging markets equities, $130,934,960; Fixed income, $6,392,689,210; Commodities, $185,708,897; Multi-asset, $215,352,198
Total assets managed: $38,681,881,495
Asset flows: Net flow, $4,387,570,795
New products planned for 2025: Information relating to funds yet to be launched cannot be disclosed. Recently launched: Global X Artificial Intelligence Infrastructure Index ETF (MTRX), February 2025
Products launched in 2024: USSX – Global X S&P 500 Index ETF; QQQX – Global X Nasdaq-100 Index ETF; NRGY – Global X Equal Weight Canadian Oil & Gas Index ETF; UCSH.U – Global X USD High Interest Savings ETF; CNDX – Global X S&P/TSX 60 Index ETF; RING – Global X Equal Weight Canadian Telecommunications Index ETF; EAFX – Global X MSCI EAFE Index ETF; GLDX – Global X Gold Producers Index ETF; PAYS – Global X Short-Term Government Bond Premium Yield ETF; EMMX – Global X MSCI Emerging Markets Index ETF; RSSX – Global X Russell 2000 Index ETF; EACC – Global X MSCI EAFE Covered Call ETF; EMCC – Global X MSCI Emerging Markets Covered Call ETF/Toronto; USSL – Global X Enhanced S&P 500 Index ETF; EQCC – Global X All-Equity Asset Allocation Covered Call ETF; RSCC – Global X Russell 2000 Covered Call ETF/Canada; PAYM – Global X Mid-Term Government Bond Premium Yield ETF; TTTX – Global X Innovative Bluechip Top 10 Index ETF; MART – Global X Equal Weight Canadian Groceries & Staples Index ETF; SAFE – Global X Equal Weight Canadian Insurance Index ETF; AIGO – Global X Artificial Intelligence & Technology Index ETF; PAYL – Global X Long-Term Government Bond Premium Yield ETF; EMCL – Global X Enhanced MSCI Emerging Markets Covered Call ETF; EACL – Global X Enhanced MSCI EAFE Covered Call ETF; EAFL – Global X Enhanced MSCI EAFE Index ETF; EMML – Global X Enhanced MSCI Emerging Markets Index ETF; QQQL – Global X Enhanced Nasdaq-100 Index ETF
Management fees: Management fees vary by ETF; MERs vary by ETF