TORONTO, April 3, 2023 – Hamilton Capital Partners Inc. (“Hamilton ETFs”) is pleased to announce the launch of Hamilton Canadian Bank Equal-Weight Index ETF (“HEB”). HEB seeks to deliver attractive monthly income, while providing exposure to an equal-weight portfolio of the Big-6 Canadian banks. With a management fee of 19 basis points[1], HEB currently has the lowest management fee of any Canadian-bank focused ETF in Canada[2].
Hamilton ETFs is also pleased to announce a reduction in the management fee for Hamilton Canadian Bank Mean Reversion Index ETF (“HCA”).
Launch of HEB
HEB has closed the offering of its initial Class E units. Units of HEB will therefore begin trading on Tuesday, April 4, 2023 on the Toronto Stock Exchange (“TSX”) under the ticker symbol “HEB”.
“We are pleased to introduce HEB, Canada’s lowest-cost Canadian Bank ETF, to our lineup of financial sector ETFs. With a low management fee and monthly distributions, HEB offers investors a convenient way to get exposure to Canada’s banks, a core holding for most Canadians, while providing more frequent income than owning the banks directly”, said Pat Sommerville, Senior Partner and Head of Business Development at Hamilton ETFs.
HCA Management Fee Reduction
In addition to the launch of HEB, Hamilton ETFs is pleased to confirm a permanent reduction in the management fee of HCA to 29 basis points[3]. This fee reduction became effective on March 27, 2023.
For more information on HEB, HCA, and the rest of the Hamilton ETFs innovative suite of exchange traded funds, please visit www.hamiltonetfs.com.
About Hamilton Capital Partners Inc. (Hamilton ETFs)
Hamilton ETFs is a Canadian investment manager based in Toronto, offering a suite of rules-based and actively managed exchange traded funds. With over $2 billion in assets under management and a specialty in financial services, Hamilton ETFs is also an active commentator on the global financial services sector; the firm’s most recent Insights can be found at www.hamiltonetfs.com/insights-commentary.
Commissions, management fees and expenses all may be associated with an investment in exchange traded funds (ETFs). Please read the prospectus before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “anticipate”, “believe”, “intend” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Hamilton ETFs undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.
For investor inquiries: Contact Hamilton ETFs at (416) 941-9888, [email protected]
For media inquiries: Contact Patrick Sommerville, Senior Partner, Head of Business Development, (416) 941-9250, [email protected]
[1] At its discretion, Hamilton ETFs may choose to waive a portion of the management fee for the ETFs it manages, thereby resulting in a temporary reduction of the management fee charged to the ETF. Based on such discretion, Hamilton ETFs has temporarily reduced the management fee on Units of HEB effective through to March 31, 2024, such that, until that time, the annual management fee will be 0.19% of the net asset value of HEB, plus sales tax.
[2] Based on a universe of eight Canadian bank ETFs that trade on the Toronto Stock Exchange, as at March 27, 2023.
[3] Effective March 27, 2023, HCA’s annual management fee is 0.29% of the net asset value of HCA, plus sales tax.