Two NEO ETF offerings from Redwood AM

This week, two ETF announcements were released by the NEO Exchange.

On Aug 23, Redwood Asset Management Inc. received final approval to launch the Redwood Emerging Markets Dividend exchange traded fund, represented by the ticker REM.

On Aug 24, Redwood AM then offered an exchange offering for the ETF units of the Redwood Canadian Preferred Share Fund, a fund that trades under the ticker RPS.

In a release, NEO says investors have until September 15, 2017 to tender their preferred shares and other accepted securities in exchange for units of the fund. It adds the offering, which closes on September 22, 2017, is the first of its kind in Canada.

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