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Redwood launches two ETFs on NEO


Redwood Asset Management, a wholly owned subsidiary of Purpose Investments, has received final approval from NEO and Canadian securities regulators to launch a new series of ETFs.

Redwood Core Income Equity Fund and Redwood Tactical Asset Allocation Fund have started trading on NEO.

“These ETFs are versions of our volatility-managed tactical asset allocation and core income equity funds.  They represent a necessary extension of distribution of our unique strategies, broadening access and choice for investors seeking truly active ETFs,” says Peter Shippen, president and chief executive officer of Redwood Asset Management. “We are very happy to launch this series on NEO, joining the existing suite of active ETFs we launched in March 2017.”
“Redwood’s decision to launch these ETFs on NEO is a strong vote of confidence in what we are doing as a new Canadian stock exchange and what we are working to achieve through competition and innovation,” adds Jos Schmitt, president and chief executive officer, NEO Exchange.  “We have a strong and lasting partnership with Redwood, rooted in meeting their needs and the needs of their clients and doing what is right for the investment community.”
To date, NEO has listed 16 ETFs, for a total of 32 different symbols from five ETF providers.

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