Desjardins Global Asset Management (DGAM) has announced the launch of a new alternative ETF – the Desjardins Alt Long/Short Equity Market Neutral ETF. The fund’s units have begun trading on the Toronto Stock Exchange under the ticker symbol DANC.
"With changes in mutual fund regulation we are very excited to offer investors our unique market neutral paired equity strategy that aims to offer absolute and uncorrelated returns in all market conditions", explains Nicolas Richard, Chief Executive Officer of DGAM.
The fund primarily invests, directly or indirectly, in long and short positions of equity securities of issuers located in Canada and throughout the world, treasury bills, money market instruments or other equivalent short term debt securities. The management fee of the new ETF is one per cent.