The Caisse and National Bank announce a $30 million investment to support the creation of a new Québec exchange-traded fund
Sector: Commercial • Location: Canada
Source: Caisse de dépôt et placement du Québec
The Caisse de dépôt et placement du Québec and National Bank announced today their $30 million investment to create the XTF Morningstar National Bank Québec Index ETF (exchange-traded fund). “This new fund, composed exclusively of Québec securities, will be intended to promote the growth and recognition of Québec-based companies both locally and in the international financial community,” explained
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Description
Description | The Caisse de dépôt et placement du Québec and National Bank announced today their $30 million investment to create the XTF Morningstar National Bank Québec Index ETF (exchange-traded fund). “This new fund, composed exclusively of Québec securities, will be intended to promote the growth and recognition of Québec-based companies both locally and in the international financial community,” explained Jean-Luc Gravel, Executive Vice-President, Equity Markets at the Caisse. “In spring 2011, the Caisse had announced that its reference index for this Canadian Equity portfolio would now integrate the new Morningstar National Bank Québec Index. By investing $15 million in this new fund—based on this index—the Caisse is reaffirming its commitment to support the reputation of growth-driven companies.” “This is the very first ETF to allow the individual and any other investor to be exposed to close to sixty Québec-based companies—in one single step,” said Laurent Ferreira, Executive Vice-President and Managing Director, Derivatives at National Bank. ABOUT THE CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at December 31, 2010, it held $151.7 billion in net assets. As one of Canada’s leading institutional fund managers, the Caisse invests in major financial markets, private equity and real estate. For more information: www.cdpq.com. ABOUT NATIONAL BANK OF CANADA National Bank of Canada is an integrated group that provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. As at October 31, 2011, National Bank has over CDN$156 billion in assets in accordance with Canadian GAAP and, together with its subsidiaries, employs more than 19,000 people. The Bank’s securities are listed on the Toronto Stock Exchange (TSX: NA). For more information, visit the Bank’s website at www.nbc.ca. To access National Bank of Canada’s financial literacy portal, visit www.clearfacts.ca. false false false |
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Original Currency | USD |
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Data quality score | 100% |
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