Auspice Announces Change in Portfolio Adviser
TORONTO, April 5, 2019 /CNW/ - Auspice Capital Advisors Ltd. ("Auspice") announced today that the portfolio adviser for Canadian Crude Oil Index ETF (the "ETF") (CCX:TSX) will be changed from Horizons ETFs Management (Canada) Inc. ("Horizons") to Purpose Investments Inc. ("Purpose") effective April 9, 2019. Auspice appreciates the work Horizons has done and looks forward to the new relationship with Purpose and again working with Som Seif and his team.
There will be no changes to the investment objectives or strategies of the ETF as a result of the change in portfolio adviser.
Canadian Crude Oil Index ETF is uniquely positioned as the only way to access Canadian crude oil commodity and heavy-oil globally for non-wholesale/retail investors. Heavy oil is critical to the global energy system as the US refinery system is the largest buyer of heavy oil and Canada is the largest supplier globally.
About Auspice Capital Advisors, Ltd.
Auspice is a Calgary, Canada based fund manager of non-correlated alternatives which since 2006 has partnered with global institutional and retail clients. Led by a respected PM team with institutional pedigree from an Energy major and Canadian bank, Auspice employs a disciplined, rules-based approach to investment management and manages a suite of award-winning and innovative investment products available in a variety of delivery mechanisms (funds, ETFs, indices, managed accounts).
Auspice is registered as a portfolio manager (IFM, CTM, EMD) in Canada and a CTA with the NFA. Auspice is the manager and trustee of the ETF, and is responsible for providing or arranging for the administrative and third party services required.
About Purpose Investments Inc.
Purpose is an asset management company with more than $6 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.
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. Auspice Capital Advisors Ltd. 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.
SOURCE Auspice Capital Advisors Ltd.
