Leith Wheeler, Franklin Templeton, Manulife, and Purpose Investments adjust fund lineups with key updates
Leith Wheeler Investment Counsel, Franklin Templeton Canada, Manulife Investment Management, and Purpose Investments have announced changes to their fund lineups, including fund terminations, fee reductions, mergers, and new ETF launches.
Purpose Investments has launched seven new single-stock Yield ETFs, which began trading on Cboe Canada on February 20.
The new ETFs include Yield Shares ETFs for Costco (YCST), Palantir (YPLT), UnitedHealth (YUNH), Coinbase (YCON), Netflix (YNET), and Broadcom (YAVG), along with the Tech Innovators Yield Shares ETF (YMAG), which provides exposure to Broadcom, Alphabet, Tesla, Meta, Microsoft, Amazon, Apple, and Nvidia.
These ETFs use a covered call strategy with moderate leverage to generate enhanced monthly distributions while maintaining exposure to the underlying stocks.
Leith Wheeler Investment Counsel is terminating the Leith Wheeler High Yield Bond Fund on April 25. The fund has ceased accepting new purchases, and unitholders have until the termination date to redeem or switch holdings.
Upon closure, the fund’s assets will be liquidated, and proceeds will be distributed.
For registered accounts, any remaining holdings will be switched into the Leith Wheeler Money Market Fund (Series F), while non-registered account holders will receive funds via direct deposit or cheque.
Leith Wheeler will continue offering the Leith Wheeler Corporate Advantage Fund and the Leith Wheeler Multi Credit Fund.
Franklin Templeton Canada has announced reductions in management and administration fees for the Franklin ClearBridge Canadian Small Cap Fund, effective March 1. The fee reductions, up to 35 basis points, will apply across multiple fund series.
Additionally, Franklin Templeton will extend a 15-basis-point management fee waiver for the Franklin International Low Volatility High Dividend Index ETF (FLVI) and Franklin US Low Volatility High Dividend Index ETF (FLVU) until June 30, 2026.
Changes in distribution frequency are also set to take effect on March 31, with FLVI and all Franklin Multi-Asset ETF Portfolios shifting from monthly or annual to quarterly distributions.
Manulife Investment Management is planning a merger of the Manulife Global Thematic Opportunities Fund into the Manulife Global All Cap Focused Fund on May 23, pending securityholder approval.
If approved, both funds will be renamed Manulife Fundamental Global Equity Fund and Manulife Fundamental Global Equity Class, respectively, with associated management fee reductions.
In addition to the merger, Manulife will terminate six funds on May 23:
- Manulife Asia Equity Class
- Manulife China Class
- Manulife Global Franchise Class
- Manulife US Dollar US Dividend Income Fund
- Manulife US Dollar US Equity Fund
- Manulife US Dollar US Mid Cap Equity Fund.
