TORONTO, March 08, 2022 (GLOBE NEWSWIRE) — Ninepoint Partners LP (“Ninepoint”) is pleased to announce that the Ninepoint Energy Income Fund reached about $56 million in assets on its first day available to investors, across its mutual fund and ETF series. The ETF series (NEO:NRGI), listed on the NEO Exchange, saw $26 million in value traded on its first day of trading.
With oil trading at a 13-year high in US dollars, and all-time high in Canadian dollars, the Canadian energy sector has entered an aggressive period of free cashflow, with lean cost structures, low debt and commitment to deliver shareholder returns. The timing was right to launch an energy income fund to provide investors with income and capital appreciation by investing in dividend paying, Canadian energy companies.
“The impact of global events on the oil and gas market will be long-lasting and offers an obvious conclusion: the world needs more, not less, of Canada’s safe, reliable and ethically produced oil and natural gas,” said Eric Nuttall, Senior Portfolio Manager on the Fund and Partner at Ninepoint Partners. “Canadian oil producers are well-capitalized to further unlock our abundance of energy resources and their investors will benefit from the return of meaningful capital in the months and years to come. We are bringing this generational income opportunity to retail investors through our new dividend paying energy fund.”
The Ninepoint Energy Income Fund launched as a complement to the Ninepoint Energy Fund which successfully capitalized on the turnaround in oil in the last year.
“I speak for the entire team at Ninepoint when I say we are champions of Eric Nuttall – his insight and thoughtful advocacy for the Canadian energy patch, his skillful active management in energy investments and his ability to deliver impressive returns to shareholders as we see continued upward pressure on the price of oil,” said John Wilson, Co-CEO, Managing Partner & Senior Portfolio Manager, Ninepoint Partners. “This is a proud moment for Ninepoint as we experience record growth in assets under management across our diverse offering of more than 30 funds.”
Ninepoint was impressed with the flawless ETF launch process facilitated by the NEO Exchange and their exceptional support in providing all investors access to liquid alternative investment vehicles that have the potential to help them meet their investment goals.
“When the market opened yesterday morning with the launch of the Ninepoint Energy Income Fund, expectations were high. The first day of trading shattered our most optimistic projections and turned this ETF launch into one of the most successful launches in Canadian history, with over $25 million in value-traded and over 2,500 trades across do-it-yourself investors, advisors, and institutions,” added Jos Schmitt, President & CEO, NEO. “The secret sauce: an innovation-powered asset manager in Ninepoint who, at the right moment in time, brought public a first-rate alternative investment product on an innovative exchange that champions Canada’s energy future and stands for unfettered access by all investors.”
About Ninepoint Partners
Based in Toronto, Ninepoint Partners is one of Canada’s leading alternative investment management firms overseeing approximately $8.4 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies including North American Equity, Global Equity, Real Assets & Alternative Income.