Horizons Exchange Traded Funds Inc. and its affiliate AlphaPro Management Inc. (Horizons ETFs) have mandated CIBC Mellon to provide custody and securities lending services for their family of actively managed ETFs.
We conducted an extensive due diligence process on our custodial needs, says Kevin Beatson, COO of Horizons ETFs. We found that CIBC Mellon offered the best combination of price and service. CIBC Mellon is a world-renowned custodial service provider and we are very confident in their ability to deliver best-in-class services which will allow us to better serve our industry partners and ETF unit holders.
Horizons ETFs is Canadas largest provider of actively managed ETFs with approximately $1.6 billion in actively managed ETF assets.
Actively managed ETFs use portfolio management teams to deliver better risk-adjusted returns than indexed ETFs while offering lower management fees than traditional investment funds.
CIBC Mellon is committed to providing Canadas best ETF servicing solution, says Ronald C. Landry, executive director for ETF services at CIBC Mellon. This appointment highlights our ability to work with our clients to help them to better serve their investors. We look forward to working with Horizons ETFs as they continue to expand their business and deliver great results to their clients.
(CG)