iShares Exchange Traded Funds (ETFs) business of BlackRock Canada is planning to roll out two global sector exchange traded funds (ETFs) in the Canadian marketplace.
Set to trade on the Toronto Stock Exchange, the new ETFs including S&P Global Industrials Index Fund and S&P Global Consumer Discretionary Index Fund, will be available to Sun Life Global Investments.
The latest fund launch follows the success of incorporating iShares in the Sun Life BlackRock mutual funds, which have secured over $800m in assets in less than two years.
In April 2011, BlackRock and Sun Life Global Investments teamed up to introduce two Canadian mutual funds-comprised of index strategies and iShares ETFs, leveraging risk management approach of both firms.
This alliance provided investors with the opportunity to improve asset allocation and reduce portfolio risk and the two new ETFs are expected to contribute further to the success of the Sun Life Global Investments BlackRock funds.
Commenting on the launch of ETFs, Sun Life Global Investments president Rick Headrick said, "With these two additional ETF products, our funds will be able to offer greater portfolio diversification."
BlackRock Asset Management Canada operates as an indirect, wholly-owned subsidiary of New York headquartered BlackRock, which had $3.792 trillion in assets under management (AUM) as at 31 December 2012.