CIBC Mellon wins Horizons ETFs mandate
This CAD$1.1bn ($996m) mandate expands on the asset servicing solutions CIBC Mellon already provides for Horizons’s family of actively-managed ETFs. With the addition of these 38 funds, CIBC Mellon now services all of Horizons's Canadian ETF business.
“We have been very happy with the service provided by CIBC Mellon on our actively managed ETF business,” said Kevin Beatson, chief operating officer Horizons ETFs. “We are quite happy to transition the rest of our ETF business to their custody and fund administration platforms and feel our unit holders will be well served by this partnership."
Horizons Exchange Traded Funds is currently the largest provider of both actively managed and leveraged ETFs in Canada.
CIBC Mellon is a leading provider of ETF servicing solutions in Canada, currently serving the majority of ETF sponsors operating in the Canadian market. Its ETF solution includes indicative net-asset-value (NAV) production, automated basket creation and redemption features and a designated broker interface offering end-to-end automation of the order process.
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