Evolve Files Preliminary Prospectus For U.S. Dollar High Interest Savings Fund

TORONTO, Aug. 3, 2022 /CNW/ - Evolve Funds Group Inc. ("Evolve" or "the Manager") is pleased to announce that it has filed a preliminary prospectus with the Canadian securities regulators for a U.S. dollar cash solution for Canadian investors. The US High Interest Savings Account Fund ("HISU" or the "Fund") is designed to provide investors with a U.S. dollar savings product that offers daily liquidity and a competitive interest rate.

"Cash continues to be an important component of a well-diversified portfolio," says Raj Lala, President and CEO at Evolve ETFs. "HISU is a great complement to our existing cash solutions with over $1 billion in AUM. We estimate Canadian investment advisors have approximately 10% of clients' cash in USD. HISU will earn an attractive yield as the initial rate will be the Fed upper rate + 0.20%, which currently totals 2.70%."

Similar to the High Interest Savings Account Fund ("HISA") launched in November 2020, HISU will offer investors with an alternative to traditional savings instruments. HISU will offer daily liquidity and monthly income in a low-cost investment solution with an attractive yield that is expected to be competitive to other USD high interest savings funds.

The investment objective of HISU seeks to maximize monthly income while preserving capital and liquidity by investing primarily in high interest US dollar deposit accounts.

HISU will offer Unhedged ETF Units (USD$), Unhedged Class A Mutual Fund Units (USD$), Unhedged Class F Mutual Fund Units (USD$) and Unhedged Class I Mutual Fund Units (USD$).

About Evolve Funds Group Inc.

With over $2.3 billion in assets under management, Evolve is one of Canada's fastest growing ETF providers since launching its first ETF 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