Mackenzie to enter ETFs business in 2016

first_img Leah Golob NEO offers MFDA reps real-time ETF data Toronto-based Mackenzie Financial Corp. is the latest among the mutual fund giants to enter the exchange-traded funds (ETFs) space as the firm has recently announced plans to introduce a suite of ETFs in the first half of 2016. Jeffrey R. Carney, Mackenzie’s president and CEO, made the announcement at an investor day presentation held in Toronto on Nov. 20. “As an industry innovator, Mackenzie Investments is committed to delivering solutions that help investors and, as such, wants to deliver active management expertise to a larger audience,” says a company spokesperson in an e-mail statement. “Active ETFs are an important investment alternative for investors and are playing a larger role in financial and retirement planning as a complement to mutual funds.” Michael Cooke, senior vice president, head of alternative investments, who recently joined the firm in April, will lead the initiative. More information will be made public closer to the 2016 launch date, according to the statement from Mackenzie’s spokesperson. On Nov. 17, Toronto-based AGF Management Ltd. announced that it is entering the ETF business with the announcement that it has acquired majority equity in Boston-based FFCM LLC, which has a family of alternative and smart-beta ETFs and several ETF managed solutions. AGF plans to bring FFCM’s expertise to the Canadian marketplace. See: AGF enters ETF space with acquisition of U.S. firm A day later, on Nov. 18, San Mateo, Calif.-based Franklin Resources Inc., which operates as Franklin Templeton Investments, announced that it has hired Patrick O’Connor as its head of global ETFs. O’Connor, an original member of the iShares launch team, will shape and develop Franklin Templeton’s ETF capabilities. See: Franklin Templeton to enter ETFs space Sterling Mutuals adds ETFs to product shelf Facebook LinkedIn Twitter Keywords ETFsCompanies Mackenzie Financial Corp. BMO InvestorLine launches commission-free trading for ETFs Related news Share this article and your comments with peers on social medialast_img read more