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CIBC Mellon wins Horizons ETFs mandate
28 March 2014
Deal covers CAD$1.1bn ($996m) of funds
Horizons ETFs Management (Canada) has selected CIBC Mellon to
provide fund administration, custody and exchange-traded fund
services for its 38 leverage and inverse ETFs.
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.