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Global X Canada Preferred ETF yields 4.00% in first year


Global X Funds, the New York based provider of exchange traded funds, has announced a first 12-month yield for the Global X Canada Preferred ETF (CNPF) of 4.00 per cent.

Concurrently, Canadian banks were ranked among the world’s strongest, according to a May 2012 Bloomberg News report. Canada received distinguished honours with five spots in the top 20 — US banks did not fare so well.  Even with a population nine times larger than Canada, the US held only three spots in the top 20. Strict regulations set by the Office of the Superintendent of Financial Institutions of Canada (OSFI) have helped Canada raise the bar beyond global banking standards by requiring more equity as a percentage of capital relative to their foreign counterparts.
Those looking for income and preferred equity holdings may want to consider the Global X Canada Preferred ETF (CNPF) to diversify their exposure. The ETF tracks the Solactive Canada Preferred Stock Index, which is designed to measure the performance of preferred stocks from Canadian issuers traded on the Toronto Stock Exchange. Currently, 75% of the index is invested in financial companies of Canada.
“CNPF provides a relatively efficient way for investors to potentially benefit from this hybrid asset class and gain access to some of the world’s highest ranked banks,” says Bruno del Ama (pictured), chief executive officer of Global X Funds.

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