Evolve Files Preliminary Prospectus For Canada's First Cloud Computing ETF
TORONTO, Nov. 12, 2020 /CNW/ - Evolve Funds Group Inc. ("Evolve") is pleased to announce that it has filed a preliminary prospectus with the Canadian securities regulators for Canada's first cloud computing ETF. The Evolve Cloud Computing Index Fund ("DATA") is designed to provide investors with access to companies operating in the cloud computing industry.
"Cloud computing was moving at a rapid pace pre-COVID, and has now accelerated even further, particularly with widespread work from home mandates and the increasing need for secure, reliable technology infrastructure," says Raj Lala, President and CEO, Evolve ETFs. "For today's investor, this means that the opportunity for portfolio growth via diversification into sectors like cloud computing has never been more important. Even with the introduction of a vaccine, industry growth is not expected to slow down, as flexible and safe ways of doing business will always be a necessity."
DATA seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Solactive Global Cloud Computing Index Canadian Dollar Hedged, or any successor thereto. DATA invests primarily in equity securities of companies located domestically or internationally that have business operations in the field of cloud computing.
The Solactive Global Cloud Computing Index measures the performance of equity securities of companies that are located in developed markets. All eligible securities are ranked based on their share class market capitalization in a descending order. Top 50 securities by share class market capitalization rank are selected for index inclusion with exposure to each Constituent Issuer capped at 7.5% and rebalanced quarterly. The Index is published in Canadian dollars.
DATA will offer hedged Canadian dollar denominated ETF units and unhedged Canadian dollar denominated ETF units, as applicable, which seek to replicate the performance of the Solactive Global Cloud Computing Index Canadian Dollar Hedged and Solactive Global Cloud Computing Index, respectively.
About Evolve Funds Group Inc.
With over $1 billion in assets under management, Evolve is one of Canada's fastest growing ETF providers since launching its first ETF via the Toronto Stock Exchange in September 2017. Evolve is a leader in thematic ETFs and specializes in bringing innovative ETFs to Canadian investors. Evolve's suite of ETFs provide investors with access to: (i) long term investment themes; (ii) index-based income strategies; and (iii) some of the world's leading investment managers. Established by a team of industry veterans with a proven track record of success, Evolve creates investment products that make a difference. For more information, please visit www.evolveetfs.com.
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A preliminary prospectus containing important information relating to securities of the ETF has been filed with the securities commissions or similar authorities in all provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. A copy of the preliminary prospectus is available on SEDAR (www.sedar.com). There will not be any sale or acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
Commissions, management fees, expenses and applicable sales taxes all may be associated with an investment in the exchange traded funds managed by Evolve Funds Group Inc. (the "ETFs"). ETFs are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "anticipate", "believe", "intend" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Evolve undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.
SOURCE Evolve ETFs
Evolve ETFs, [email protected], t. 416.214.4884, tf. 1.844.370.4884; MEDIA CONTACT, Keith Crone, [email protected], 416.966.8716
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