Printer Friendly

Questrade Wealth Management Wins Unitholder Approval for WisdomTree Deal.

M2 EQUITYBITES-November 27, 2017-Questrade Wealth Management Wins Unitholder Approval for WisdomTree Deal


27 November 2017 - Unitholders of Canadian Questrade Russell 1000 Equal Weight US Industrials Index ETF Hedged to CAD (TSX: QRI) have approved a proposal that will result in a merger, the company said.

It is expected that the mergers will become effective on or about 6 December 2017.

In July, Questrade Wealth Management Inc. and its sister company, online brokerage Questrade, Inc., entered into a series of agreements with WisdomTree Asset Management Canada, Inc. and WisdomTree Asset Management, Inc.

As part of the agreements: WisdomTree Canada will become a major provider of exchange-traded funds available for purchase on a commission-free basis on Questrade's self-directed platform.

This will include all available Canadian WisdomTree ETFs. In addition, the parties will work together to develop and deploy a variety of ETF-focused educational initiatives and resources for Questrade clients, including webinars, newsletters and reports on investing topics.

WTAM will become a consultant for QWM's Portfolio IQ, a professionally and actively-managed low-cost online investment service.

WisdomTree Canada has agreed to acquire all of the ETFs currently managed by QWM, representing approximately CDN 89m in assets under management.

Affected unitholders will receive a number of units of the applicable Continuing Fund determined based on an exchange ratio established as of the close of trading on the business day immediately preceding the Effective Date.

The exchange ratios will be calculated based on the relative net asset values of the units of the applicable Questrade ETF and the units of the applicable Continuing Fund.

Questrade Financial Group Inc. and its affiliated companies provide financial products and services to Canadians including securities, foreign currency, and wealth management.

Questrade Wealth Management Inc. manages and administers the Questrade ETFs and provides professional investment management services through Portfolio IQ. QWM is an investment fund manager and portfolio manager. QWM is a wholly owned subsidiary of QFG.

((Comments on this story may be sent to

COPYRIGHT 2017 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2017 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Nov 27, 2017
Previous Article:Mimosa Networks chosen as Red Herring Top 100 Global Winner.
Next Article:Neuro-Hitech Acquires Two Leases in Fort Worth Basin.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters