Mackenzie Emerging Markets Local Currency Bond Index ETF provides investors with opportunity to access growth in emerging markets through local currencies.
TORONTO – October 24, 2019 – Mackenzie Investments today announced the launch of Mackenzie Emerging Markets Local Currency Bond Index ETF, a new exchange traded fund (ETF) which seeks to provide Canadian investors with the opportunity to access the strong growth and diversification benefits of investing in emerging markets.
This new ETF is the first of its kind in Canada and carries a management fee of 0.45 per cent- which is currently one of the lowest among Canadian-domiciled emerging markets bond ETFs. Further, the ETF provides strong currency diversification opportunities.
"Improved debt dynamics within emerging countries, and a positive long-term outlook for emerging markets as a whole, combine to make this asset class a particularly attractive one for investors seeking to diversify and grow their portfolios," said Michael Cooke, Senior VP and Head of ETFs, Mackenzie Investments.
Mr. Cooke noted that Mackenzie Emerging Markets Local Currency Bond Index ETF will provide investors with strong investment opportunities given that almost 90 per cent of emerging market bonds (approximately US$21.6 trillion) are denominated in local currency.
Mackenzie Emerging Markets Local Currency Bond Index ETF will seek to replicate the performance of the Solactive EM Local Currency Government Bond Select NTR Index. It is the latest addition to the firm's comprehensive suite of Active, Strategic Beta and Traditional Index ETFs which offer investors and advisors innovative choices for building diversified portfolios.
The initial offering of the ETF has closed and the ETF will begin trading today on the Toronto Stock Exchange, under the ticker symbol QEBL.