TORONTO, March 1, 2022 /CNW/ – Evolve Funds Group Inc. (“Evolve“) is pleased to announce the launch of the Evolve Enhanced FANGMA Index ETF (“TECE“). TECE has closed its initial offering of units and will begin trading on the Toronto Stock Exchange (“TSX”) today under the ticker symbols: TECE (CAD Hedged Units), TECE.B (CAD Unhedged Units) and TECE.U (USD Unhedged Units).
TECE seeks to replicate, to the extent reasonably possible and before fees and expenses, a 1.25 times multiple of the performance of the Solactive FANGMA Equal Weight Index Canadian Dollar Hedged (“FANGMA Index“), or any successor thereto. TECE provides investors with exposure to the equity securities of six technology titans:
|Alphabet Inc.||Amazon Inc.||Apple Inc.||Facebook Inc.||Netflix Inc.||Microsoft Corp.|
“Despite posting very strong returns in 2021, technology stocks have been under pressure recently on rising inflation, rate hike expectations and geopolitical concerns,” says Raj Lala, President and CEO, at Evolve. “Over the past couple of years FANGMA stocks have been significant contributors to market returns, however, are down 17% year-to-date. Historically, these six tech giants have provided consistent earnings which could make this recent pullback a great time for investors to consider enhanced exposure to big tech.”
TECE will use leverage in order to seek to achieve its investment objective. Leverage will be created through the use of cash borrowings or as otherwise permitted under applicable securities legislation.
The FANGMA Index is equally weighted, rebalanced quarterly and published in US dollars. For more information visit https://evolveetfs.com/product/tece/
About Evolve Funds Group Inc.
With approximately $2 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 disruptive innovation 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.
Commissions, management fees and expenses all may be associated with exchange traded funds (ETFs). ETFs are not guaranteed, their values change frequently and past performance may not be repeated. There are risks involved with investing in ETFs. Please read the prospectus for a complete description of risks relevant to ETFs. Investors may incur customary brokerage commissions in buying or selling ETFs. Please read the prospectus before investing.
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.Evolve ETFs, firstname.lastname@example.org, t. 416.214.4884, tf. 1.844.370.4884; MEDIA CONTACT: Keith Crone, email@example.com, 416.966.8716Related Link: https://www.newswire.ca/news-releases/evolve-enhanced-fangma-index-etf-begins-trading-today-on-tsx-877469720.html