Robo-advisor caps frantic week by filing preliminary prospectus for two ETFs managed by Mackenzie Investments
Wealthsimple has ended a frenetic week by making a major move into the ETF market.
The Toronto-based robo-advisor has filed a preliminary prospectus for two socially responsible index ETFs, with Mackenzie Investments as the trustee and manager. Both ETFs will be listed on the Toronto Stock Exchange.
Wealthsimple has been at the centre of two big stories in the finance world this week, as reported by WP. It began with the firm announcing its first spending account before, on Thursday, it was revealed that Purpose Advisor Solutions is to acquire Wealthsimple for Advisors, its digital portfolio and account platform. The deal will allow Wealthsimple to focus on its core retail business.
The Wealthsimple North America Socially Responsible Index ETF will invest primarily in Canadian and U.S. equities that don’t violate “commonly held social and environmental values”. It will track the Solactive Wealthsimple North America Socially Responsible Factor index, with a management fee of 20 basis points.
The Wealthsimple Developed Markets ex North America Socially Responsible Index ETF will do the same for companies in Europe, Australasia and the Far East. It will track the Solactive Wealthsimple DM ex NA Socially Responsible Factor index, with a management fee of 25 basis points.
