CI Financial's recent addition of CI WisdomTree ETFs offers a fundamentally weighted approach to indexing and further diversifies its ETF lineup
TORONTO, June 16, 2020 /CNW/ - CIBC Mellon today announced that it has been selected to provide custody, fund accounting and ETF servicing for CI Financial's 14 Toronto Stock Exchange-listed CI WisdomTree ETFs, which the company recently acquired. CIBC Mellon already services all of CI Financial's exchange-traded funds, and this mandate expands the services CIBC Mellon provides to the company. CI Financial (TSX: CIX) is a diversified wealth management firm and one of the country's largest investment companies. With CI Financial's recent acquisition of WisdomTree's Canadian operations, the company's ETF assets have grown to $9.2 billion (as of May 31, 2020).
"We are increasing the scale of our ETF business and expanding our lineup of ETF mandates and product offerings, and we view CIBC Mellon as a long-term strategic partner who is well positioned to support our global expansion in this key growth segment," said Caitlin Dean, Senior Vice-President, Portfolio Operations and Chief Operations Officer, Funds, CI Investments Inc. "We recognize CIBC Mellon's superior ETF capabilities, its demonstrated expertise, and its significant market share in the Canadian ETF space."
"CIBC Mellon is proud to service all of CI Financial's ETFs as its family of ETFs continues to grow and evolve," said Ronald C. Landry, Head of Product and Canadian ETF Services, CIBC Mellon. "ETF providers continue to tap into CIBC Mellon's ETF services for the company's local market expertise, access to global resources, and our ability to support ETFs, ETF series of mutual funds and ETFs with mutual fund series."
As a leading Canadian provider of integrated services for ETF providers, CIBC Mellon's ETF solutions include indicative net-asset-value (NAV) production, automated basket creation and dissemination – including custom and index baskets – and secured interfaces facilitating streamlined ETF orders. The company services 18 of the 37 ETF sponsors active in Canada as at April 30, 2020, servicing more than 345 Canadian ETFs and over 430 listed ETFs in Canada.
About CI Financial
CI Financial Corp. (TSX: CIX) is an independent company offering global asset management and wealth management advisory services. CI held approximately $172 billion in fee-earning assets as of May 31, 2020. CI's primary asset management businesses are CI Investments Inc. and GSFM Pty Ltd., and it operates in wealth management through Assante Wealth Management (Canada) Ltd., CI Private Counsel LP, WealthBar Financial Services Inc., BBS Securities Inc., One Capital Management, LLC and Surevest LLC. Further information is available at www.cifinancial.com. The CI WisdomTree ETFs are managed by CI ETF Investment Management Inc., a subsidiary of CI Financial.
About CIBC Mellon
CIBC Mellon is dedicated to helping Canadian institutional investors and international institutional investors into Canada service their financial assets throughout the investment lifecycle. Founded in 1996, CIBC Mellon is 50-50 jointly owned by The Bank of New York Mellon (BNY Mellon) and Canadian Imperial Bank of Commerce (CIBC). CIBC Mellon delivers informed investment services for investment funds, pension plans, insurance companies, banks, foundations, endowments, corporations, and global financial institutions whose clients invest in Canada. As at March 31, 2020, CIBC Mellon had more than C$1.8 trillion in assets under custody and/or administration. CIBC Mellon is part of the BNY Mellon network, which as at March 31, 2020 had US$35.2 trillion in assets under custody and/or administration. CIBC Mellon is a licensed user of the CIBC trade-mark and certain BNY Mellon trade-marks, is the corporate brand of CIBC Mellon Global Securities Services Company and CIBC Mellon Trust Company, and may be used as a generic term to refer to either or both companies.
For more information, including CIBC Mellon's latest knowledge leadership on issues relevant to institutional investors active in Canada, visit www.cibcmellon.com.
Media Contacts:
CIBC Mellon: Jennifer Israel, Corporate Communications, 647-823-8417, [email protected]
CI Financial: Murray Oxby, Vice-President, Communications, 416-681-3254, [email protected]
SOURCE CIBC Mellon
Media Contacts: CIBC Mellon: Jennifer Israel, Corporate Communications, 647-823-8417, [email protected]; CI Financial: Murray Oxby, Vice-President, Communications, 416-681-3254, [email protected]
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