Product roundup: Asset managers get active with fixed income

As interest rates take a dip, asset managers are increasingly leaning into the fixed-income space.

On Thursday, RBC iShares launched the actively managed iShares Flexible Monthly Income ETF (TSX: XFLI, XFLI.U), with a Canadian dollar–hedged version (TSX: XFLX) slated to launch on Oct. 1.

The fund invests in the BlackRock Flexible Income ETF (NYSE: BINC), which is managed by Rick Rieder, chief investment officer of global fixed income with BlackRock Inc. The management fee is 0.55%.

The ETF seeks to deliver income mostly by “allocating to hard-to-reach global fixed-income sectors, such as high yield, emerging markets debt and securitized assets,” a release said.

Also on Thursday, Evolve ETFs launched the Evolve Canadian Aggregate Bond Enhanced Yield Fund (TSX: AGG), which has a management fee of 0.45%. The actively managed fund invests mostly in fixed-income ETFs or securities primarily issued in Canada, and also uses a covered-call option.

Also this week, IG Wealth Management launched the IG Manulife Strategic Income Fund, which is within the firm’s new multi-sector fixed-income mandate. The fund aims to “mitigate risk and diversify sources of alpha,” a release said. The management fee is 0.65%.

Other product news

Fidelity Investments Canada ULC launched its Fidelity Equity Premium Yield ETF (Cboe: FEPY, FEPY.U), with a 0.40% management fee, on Thursday. The ETF offers exposure to an equity and options-based investment strategy.

Sun Life launched “Sun Life MyRetirement Income,” a target date fund that allows clients to change their maturity age and decide how often they receive payments. Money can be withdrawn or added without fees or penalties, a release said.

Noushin Ziafati

Noushin has been the associate editor of Advisor.ca since 2024. Previously, she worked at outlets including the CBC, Canadian Press, CTV News, Telegraph-Journal and Chronicle Herald. Reach her at noushin@newcom.ca.