Latest company to list on platform affirms continued growth of PTF revolution
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NEO has announced a partnership with Antrim Investments to add a new platform-traded fund (PTF) offering to the NEO Connect platform.
Antrim is distributing the Antrim Mortgage Investments Fund, Canada’s largest residential mortgage investment corporation (MIC), in a PTF format. The fund, which invests in a diversified portfolio of residential first and second mortgages in Alberta and British Columbia, has begun trading on NEO Connect under the symbols ABMPN, ABMBN, and ABMFN.
“Our MIC is focused on providing shareholders with a steady stream of interest income and is backed by our esteemed management team with over 45 years of mortgage financing experience,” said Will Granleese, portfolio manager and director at Antrim Investments. “We look forward to leveraging NEO Connect’s innovative platform that will allow investors to enjoy the most efficient access to our fund.”
Since its launch in 2016, the NEO Connect platform has grown rapidly within the IIROC and MFDA community, which has allowed fund providers to raise nearly $1 billion in assets under management across 70 PTFs. The platform is open to advisors, dealer networks, and asset managers looking for a more efficient way to invest in assets not listed on a stock exchange.
“We are proud to welcome the Antrim team to the NEO family as they embrace the PTF revolution,” said Jos Schmitt, president and CEO, NEO. “The proliferation of PTFs has continued to gain momentum throughout the year, with more than ten asset managers now leveraging our innovative platform to broaden their distribution networks.”
NEO Connect’s latest announcement came just several weeks after it introduced another MIC from AMUR Financial Group. AMUR also made its MIC offering available on DealSquare, NEO’s recently announced centralized platform intended to simplify private placements in Canada.
