Dynamic Funds and BlackRock Asset Management Canada Limited, an indirect, wholly owned subsidiary of BlackRock, Inc., jointly announced Dynamic Funds’ intention to assume management of the nine Dynamic Active exchange-traded funds listed below (collectively, the “Dynamic Active ETFs”), pending regulatory, stock exchange and unitholder approvals.
BlackRock Canada is currently the trustee, manager and portfolio manager of the Dynamic Active ETFs, while Dynamic Funds currently manages the underlying mutual funds through which the Dynamic Active ETFs obtain their investment exposure and provides certain other services to the Dynamic Active ETFs.
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The investment objectives, strategies and management fees of the Dynamic Active ETFs are expected to remain the same following the proposed change. The ETFs are:
- Dynamic Active Canadian Dividend ETF (ticker: DXC)
- Dynamic Active Crossover Bond ETF (ticker: DXO)
- Dynamic Active Global Dividend ETF (ticker: DXG)
- Dynamic Active Global Financial Services ETF (ticker: DXF)
- Dynamic Active Investment Grade Floating Rate ETF (ticker: DXV)
- Dynamic Active Preferred Shares ETF (ticker: DXP)
- Dynamic Active Tactical Bond ETF (ticker: DXB)
- Dynamic Active U.S. Dividend ETF (ticker: DXU)
- Dynamic Active U.S. Mid-Cap ETF (ticker: DXZ)
“Dynamic Funds is pleased to further strengthen its commitment to providing innovative ETFs to our clients by assuming all investment fund management and other responsibilities of the entire Dynamic Active ETF suite. We thank BlackRock Canada for being strong partners and for providing an operational foundation for the Dynamic Active ETFs – and we are dedicated to further growing our Dynamic Active ETF suite going forward,” says Mark Brisley, Managing Director, Dynamic Funds.
“BlackRock Canada has valued working with Dynamic Funds to bring active strategies through ETFs to the Canadian market and we are committed to supporting the Dynamic Active ETFs through this transition. We remain focused on expanding our ETF offering in Canada to help more and more people experience financial well-being,” says Madeleine Sinclair, Head of iShares Canada.
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In January 2017, Dynamic Funds and BlackRock Canada announced the launch of an actively managed ETF lineup, combining Dynamic Funds’ style of active portfolio management with BlackRock’s global ETF operating platform and expertise. Since that time, the Dynamic Active ETF suite of funds has continued to grow, with Dynamic Funds independently managing six additional ETFs launched in 2020 and 2021.
BlackRock® Canada calls Unitholder Meetings of the Dynamic Active ETFs to Approve Proposed Change in Manager
BlackRock Canada has called special meetings of the unitholders of the Dynamic Active ETFs (the “Meetings”), to be held on or about November 17, 2021, to approve the proposed change in trustee, manager and portfolio manager of the Dynamic Active ETFs from BlackRock Canada to Dynamic Funds (the “Proposals”). BlackRock Canada is holding the Meetings solely as virtual (online) meetings which will be conducted by way of live audio webcast. Unitholders of record of the Dynamic Active ETFs at the close of business on September 29, 2021 will be entitled to receive notice of, and vote at, the applicable Meeting.
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