First Asset’s Canadian exchange-traded funds based on Morningstar indices, which were launched two years ago, now hold approximately CAD450m in assets.
“When we adopted the Morningstar CPMS methodology driven indexes in February 2012, we knew that we were providing Canadians access to leading portfolio management solutions that were previously not accessible to the average investor,” says Barry Gordon, CEO and president at First Asset. “Although factors-based indexation – sometimes referred to as smart beta – is still a relatively new type of indexing methodology in Canada, it has gained remarkable interest among investors seeking better risk-adjusted returns. Canada is catching up to the US in this regard.”
Depending on an investor’s investment objectives, First Asset offers eight ETFs that track Morningstar Indexes in both the equity and fixed income categories to provide diversification to complement a broader portfolio.
First Asset Morningstar Canada Momentum Index ETF (WXM) and First Asset Morningstar Canada Value Index ETF (FXM) continue to gain in popularity as they ranked among the strongest-performing mandates in the Canadian equity category during 2013.
“We are excited to celebrate this milestone. These ETFs provide Canadians a new way to diversify their investment portfolio and have delivered excellent risk-adjusted returns,” says Rohit Mehta, senior vice president at First Asset. “The endorsement of these strategies by Financial Advisors and investors across the country helped to make First Asset the fastest growing ETF provider in Canada for 2013.”
First Asset is opening the market at the Toronto Stock Exchange to officially mark the occasion.
