TORONTO, April 13, 2021 – Evolve Funds Group Inc. (“Evolve”) is pleased to announce that it has filed a preliminary prospectus with the Canadian securities regulators for the world’s first ETFs to bring carbon neutrality to traditional indices through the newly formed Evolve CleanBeta™ series of ETFs. The Evolve S&P/TSX 60 CleanBeta™ Fund (“SIXT”) and the Evolve S&P 500 CleanBeta™ Fund (“FIVE”) are designed to provide investors with the performance of S&P/TSX 60 and S&P 500 Indices, respectively, while striving to offset the carbon footprint of the securities in the portfolios.
“We are very excited to be working with S&P and TMX to introduce the world’s first CleanBeta series of ETFs,” says Raj Lala, President and CEO at Evolve. “Carbon Dioxide is the primary contributor to our world’s greenhouse gases. Investors are now demanding that countries and companies work to reduce these emissions, however, this cannot take place overnight. Currently, trying to invest in only carbon neutral companies results in a significant narrowing of the investable universe. Our CleanBeta series of ETFs deliver commonly used traditional indices and strives to offset the carbon emissions from these companies, in order to deliver a clean beta solution.”
SIXT and FIVE seek to provide long-term capital growth by replicating, net of fees and expenses, the performance of the S&P/TSX 60 Index and S&P 500 Index, respectively, while striving to offset the carbon footprint of the constituent securities in the portfolio.
In order to offset the carbon in these portfolios, Evolve will rely on a carbon footprint calculation provided by S&P Dow Jones utilizing Trucost. Trucost is a division of S&P Global. The data and analysis provided by Trucost will determine the carbon exposure of the companies in the indices. SIXT and FIVE will employ a variety of strategies, including purchasing and retiring carbon credits, as a means to neutralize the full carbon footprints.
The S&P/TSX 60 Index is a portfolio index of the large-cap market segment of the Canadian equity market. The S&P/TSX 60 Index is provided by S&P Dow Jones Indices LLC and is a market capitalization-weighted index of securities of its Constituent Issuers. The Index is comprised of 60 of the largest (by market capitalization) and most liquid constituents of the S&P/TSX Composite Index and is generally rebalanced quarterly.
The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities. The S&P 500® is provided by S&P Dow Jones Indices LLC and is a market capitalization-weighted index of securities of its Constituent Issuers. The S&P 500® includes 500 leading companies in leading industries of the U.S. economy. The S&P 500® is also the U.S. component of the S&P Global 1200.
“Over the last several years, investors have been searching for solutions to meet their investment objectives while simultaneously satisfying their environmental responsibilities,” says Elliot Johnson, CIO and COO at Evolve. “Greenhouse gas emissions have become a global challenge with C02 contributing over 30 billion metric tons of emissions a year. While many companies are striving to reduce their carbon footprint, scientists believe we are not moving fast enough.”
SIXT and FIVE are offering the following Units:
About Evolve Funds Group Inc.
With approximately $1.8 billion in assets under management, Evolve is one of Canada’s fastest growing ETF providers since launching its first ETF in September 2017. Evolve is a leader in thematic ETFs and specializes in bringing disruptive innovation ETFs to Canadian investors. Evolve’s suite of ETFs provide investors with access to: (i) long term investment themes; (ii) index-based income strategies; and (iii) some of the world’s leading investment managers. Established by a team of industry veterans with a proven track record of success, Evolve creates investment products that make a difference. For more information, please visit www.evolveetfs.com.
A preliminary prospectus containing important information relating to securities of the ETF has been filed with the securities commissions or similar authorities in all provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. A copy of the preliminary prospectus is available on SEDAR (www.sedar.com). There will not be any sale or acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
Commissions, management fees, expenses and applicable sales taxes all may be associated with an investment in the exchange traded funds managed by Evolve Funds Group Inc. (the “ETFs”). ETFs are not guaranteed, their values change frequently and past performance may not be repeated.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to a future outlook and anticipated distributions, events or results and may include statements regarding future financial performance. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “anticipate”, “believe”, “intend” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Evolve undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.
“The S&P/TSX 60 Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and TSX, Inc., and has been licensed for use by Evolve Funds Group Inc. (“Evolve”). Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Evolve. TSX® is a registered trademark of the TSX, Inc. and have been licensed for use by SPDJI and Evolve. Evolve S&P/TSX 60 CleanBeta™ Fund (“SIXT”) and Evolve S&P 500 CleanBeta™ Fund (“FIVE”) is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, or TSX, Inc. and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P/TSX 60 Index.”
“The S&P/TSX 60 Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and TSX, Inc., and has been licensed for use by Evolve Funds Group Inc. Standard & Poor’s®, S&P®, and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). TSX® is a registered trademark of TSX Inc. (“TSX”). The trademarks have been licensed to SPDJI and have been sublicensed for use for certain purposes by Evolve. SIXT and FIVE is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, any of their respective affiliates (collectively, “S&P Dow Jones Indices”) or TSX. Neither S&P Dow Jones Indices nor TSX make any representation or warranty, express or implied, to the owners of the SIXT and FIVE or any member of the public regarding the advisability of investing in securities generally or in SIXT and FIVE particularly or the ability of the S&P/TSX 60 index to track general market performance. S&P Dow Jones Indices and TSX’s only relationship to Evolve with respect to the S&P/TSX 60 index is the licensing of the S&P/TSX 60 index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P/TSX 60 index is determined, composed and calculated by S&P Dow Jones Indices or TSX without regard to Evolve or the SIXT and FIVE. S&P Dow Jones Indices and TSX have no obligation to take the needs of Evolve or the owners of SIXT and FIVE into consideration in determining, composing or calculating the S&P/TSX 60 index. Neither S&P Dow Jones Indices nor TSX are responsible for and have not participated in the determination of the prices, and amount of SIXT and FIVE or the timing of the issuance or sale of SIXT and FIVE or in the determination or calculation of the equation by which SIXT and FIVE is to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices and TSX have no obligation or liability in connection with the administration, marketing or trading of SIXT and FIVE. There is no assurance that investment products based on the [Indices] will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment advisor. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice.
NEITHER S&P DOW JONES INDICES NOR TSX GUARANTEES THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE S&P/TSX 60 INDEX OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES AND TSX SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES AND TSX MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY Evolve, OWNERS OF THE SIXT & FIVE, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P/TSX 60 INDEX OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES OR TSX BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND Evolve, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.”
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