Middlefield converts two active mutual funds to ETFs

Jun 12th, 2019 | By | Category: Equities

FACTOR INVESTING - THURSDAY 14TH JULY 2022 (08:15-11:30) - THE BERKELEY, LONDON Please join us for our annual factor investing breakfast briefing with participation from MSCI, FlexShares ETFs, Tabula and Professor Stefan Zohren, Deputy Director of the Oxford-Man Institute of Quantitative Finance. Please register now if you would like to attend.


Canadian asset manager Middlefield Group has converted two of its actively managed mutual funds to ETFs with new listings on Toronto Stock Exchange.

Middlefield converts two active mutual funds to ETFs

The funds have been relisted as ETFs on Toronto Stock Exchange.

The Middlefield Health & Wellness Dividend Fund (HWF.UN CN) has been converted to the Middlefield Health & Wellness ETF (HWF CN).

The ETF provides exposure to dividend-paying firms that derive a significant proportion of their revenue from the healthcare and wellness industries.

Two-thirds (66.3%) of the fund is currently invested in stocks listed in the US, while Canada is the next largest country exposure at 12.3%.

Two-thirds (66.9%) of the fund is allocated to the healthcare sector with another one-fifth (20.0%) in real estate.

It comes with a management fee of 0.85%.

Similarly, the American Core Sectors Dividend Fund (ACZ.UN CN) has been converted to the Middlefield American Core Dividend ETF (ACZ CN).

The ETF will invest at least 75% of its assets in dividend-paying stocks from firms operating in what Middlefield defines as the ‘Core Sectors’ of the US economy: consumer discretionary, consumer staples, financials, industrials, and information technology.

Currently, the largest sector exposures are financials (27.8%), information technology (16.8%), industrials (16.6%), and consumer discretionary (13.1%).

Units of both funds were converted on a 1:1 basis and the conversions to ETFs were not taxable events for unitholders. All costs associated with the conversions were borne by Middlefield.

Middlefield launched its actively managed ETF platform in February 2019.

Following these latest conversions, the firm now has four ETFs in its roster including the Middlefield Healthcare & Life Sciences ETF (LS CN) and Middlefield REIT INDEXPLUS ETF (IDR CN).

Tags: , , , , , , , ,

Leave a Comment