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Canada’s Lysander, Jomisc launch ETF for Canadian preferred shares
By Tali Rackner
Norfolk, Va., Aug. 17 – Lysander Funds Ltd. and Jomisc Investments Inc. announced the launch of the Lysander-Slater Preferred Share ActivETF, according to a press release.
The ActivETF will invest primarily in preferred shares of Canadian issuers listed in Canada, using fundamental and credit research, the release said. It may also invest up to 10% of its assets at the time of investment in other income-generating securities.
The exchange-traded mutual fund will seek to invest in mispriced securities within the preferred share market in order to achieve additional income and/or capital appreciation beyond the basic objective of preserving investor capital and generating income.
It has completed the initial public offering of its units and will begin trading on the Toronto Stock Exchange on Aug. 18 under the symbol “PR”.
Lysander, a Richmond Hill, Ontario-based registered investment fund manager, is the trustee and manager of the fund. Jomisc, a registered portfolio manager at its principal office in Toronto, is the portfolio manager.
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