Hamilton ETFs and Purpose Investments have announced that the merger of Purpose Global Financials Income Fund into Hamilton Australian Financials Yield ETF was completed after the close of business Oct. 25.
"We are pleased to welcome the PFG unitholders to HFA. We believe this merger offers significant benefits for investors," said Rob Wessel, Managing Partner at Hamilton ETFs. "The Australian financial services sector is among the highest quality and strongest in the world, with similarities to, but low correlations with, the Canadian financial services sector. We believe HFA is well suited for Canadian investors seeking portfolio diversification and monthly income from a financial services sector in one of the world's most successful economies."
ETF Units of the Purpose Global Financials Income Fund were delisted from the Toronto Stock Exchange at the close of business on Oct. 24. Securityholders of that fund were not required to take any action in order to become securityholders of the Hamilton Australian Financials Yield ETF.
