BMO leads Canadian ETF industry in new assets for second consecutive year
BMO Asset Management’s exchange-traded funds business led the Canadian ETF industry in new assets for the second consecutive year in 2012.
BMO ETFs attracted CAD5bn in net new assets, up 130 per cent from the previous year. Overall, BMO accounted for 40 per cent of all Canadian ETF new asset inflows for the year.
BMO S&P/TSX Capped Composite Index ETF (ZCN) topped the industry with CAD813m in inflows. ZCN is designed to replicate the performance of the S&P/TSX Capped Composite Index, the primary indicator for Canadian equity markets.
The product suite has grown to 48 funds (including multiple industry firsts) in under four years.
"The Canadian ETF industry has seen immense growth in the past year, and we're thrilled to have been such a big part of its success," says Kevin Gopaul, senior vice president and chief investment officer, BMO Asset Management. "We're fortunate to have such a strong team of professionals who share a collective commitment to product innovation and also a comprehensive consideration of the use of these ETFs in portfolio construction. We'll continue to address key investor needs and we are looking forward to an equally successful 2013."
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