Sphere ETFs to track same FTSE indexes after Evolve takeover

Morningstar Canada 1 November, 2017 | 5:00PM
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Evolve Funds Group Inc. has agreed to take over the management contracts of the Sphere family of exchange-traded funds. The friendly deal would provide Evolve with a suite of ETFs in five core equity categories, complementing its existing line-up that is dominated by sector-specific and specialty mandates.

All five of the Sphere ETFs are based on "sustainable yield" indexes maintained by the FTSE organization. These strategies would continue under Evolve's sponsorship. The transaction is subject to unitholder and regulatory approval. Unitholder approval will be sought at special meetings of the ETFs to be held on Dec. 11.

The affected ETFs are Sphere FTSE Canada Sustainable Yield Index (SHC), Sphere FTSE US Sustainable Yield Index (SHU), Sphere FTSE Europe Sustainable Yield Index (SHE), Sphere FTSE ASIA Sustainable Yield Index (SHA) and Sphere FTSE Emerging Markets Sustainable Yield Index ETF (SHZ).

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