Premium Cash Management Fund and US Premium Cash Management Fund Begin Trading Today on TSX
TORONTO, May 29, 2023 /CNW/ - Evolve Funds Group Inc. ("Evolve" or "the Manager") is pleased to announce the launch of the Premium Cash Management Fund ("MCAD") and US Premium Cash Management Fund ("MUSD") (Collectively, the "Evolve Funds"). The Evolve Funds have closed initial offering of units and will begin trading on the Toronto Stock Exchange ("TSX") today under the ticker symbols: MCAD and MUSD.U.
The Evolve Funds are designed to provide investors with the ability to maximize current income, while at the same time preserving capital and maintaining liquidity, by investing primarily in Canadian dollar-denominated and U.S. dollar-denominated high-quality short term debt securities (with a term to maturity of 365 days or less), respectively.
MCAD invests primarily in Canadian dollar-denominated high-quality short term debt instruments such as treasury bills, bankers acceptances, bearer deposit notes, commercial paper (including asset-backed commercial paper), promissory notes, floating rate notes as well as other short term debt obligations of, or guaranteed by, the Canadian governments or their agencies, Canadian chartered banks, Canadian loan or trust companies or Canadian corporations.
MUSD invests primarily in U.S. dollar-denominated high-quality short term debt instruments such as treasury bills, bankers acceptances, bearer deposit notes, commercial paper (including asset-backed commercial paper), promissory notes, floating rate notes as well as other short term debt obligations of, or guaranteed by, the U.S. governments or their agencies, U.S. chartered banks, U.S. loan or trust companies or U.S. corporations
The following chart sets out the ETF Units for each of the Evolve Funds:
Evolve Funds |
ETF Units |
|
Unhedged ETF Units (CAD$) |
USD Unhedged ETF Units (USD$) |
|
Premium Cash Management Fund |
MCAD |
- |
US Premium Cash Management Fund |
- |
MUSD |
With over $6.1 billion in assets under management, Evolve is one of Canada's fastest growing ETF providers since launching its first ETF in September 2017. Evolve 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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Commissions, trailing commissions, management fees and expenses all may be associated with exchange traded funds (ETFs) and mutual funds. Please read the prospectus before investing. There are risks involved with investing in ETFs and mutual funds. Please read the prospectus for a complete description of risks relevant to the ETF and mutual fund. Investors may incur customary brokerage commissions in buying or selling ETF and mutual fund units. Investors should monitor their holdings, as frequently as daily, to ensure that they remain consistent with their investment strategies.
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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