Mackenzie Investments has partnered with TOBAM, a Paris-based asset manager, to launch two smart-beta index ETFs.
TOBAM’s methodology is designed to protect portfolios from structural bias and unmanaged risks often found in cap-weighted indices, notes a release. Each index aims to create a more diversified portfolio relative to a market capitalization weighted benchmark across Canadian and U.S. markets.
The offering of the following two ETFs has closed, and they will begin trading on the TSX today.
MKC: Mackenzie Maximum Diversification Canada Index ETF seeks to replicate the performance of the TOBAM Maximum Diversification Canada Index, or any successor thereto. It invests primarily in Canadian equity securities.
MUS: Mackenzie Maximum Diversification US Index ETF seeks to replicate the performance of the TOBAM Maximum Diversification USA Index, or any successor thereto. It invests primarily in U.S. equity securities.