CIBC Mellon Earns $1.1bn Mandate Expansion

CIBC Mellon has announced that Horizons ETFs Management has selected CIBC Mellon to provide fund administration, custody and exchange-traded fund (ETF) services for the Horizons family of 38 leverage and inverse ETFs.

This CAD$1.1bn mandate expands on the asset servicing solutions CIBC Mellon already provides for the Horizons ETFs family of actively-managed ETFs. With the addition of these 38 ETFs, CIBC Mellon now services all of Horizons’ Canadian ETF business.

“We’ve been very happy with the service provided by CIBC Mellon on our actively managed ETF business. Both the technology used by their platform and the client service they offer have been terrific,” said Kevin Beatson, Chief Operating Officer of Horizons ETFs. “We’re quite happy to transition the rest of our ETF business to their custody and fund administration platforms, and feel our unit holders will be well served by this partnership.”

“We are committed to great service, strong support and continuous improvement here at CIBC Mellon, and we have enjoyed a very strong working relationship with Horizons – we are very pleased they have again selected us to service their family of funds. We look forward to delivering strong solutions for Horizons ETFs as they continue to expand their business and serve their investors,” said Ronald C. Landry, Executive Director, ETFs & Investment Funds, CIBC Mellon.

Horizons Exchange Traded Funds Inc. is an innovator in both actively-managed ETFs and inverse and leveraged ETFs. They are currently the largest provider of both actively managed ETFs and leveraged ETFs in Canada.

CIBC Mellon is a leading provider of ETF-servicing solutions in Canada, currently serving the majority of ETF sponsors operating in the Canadian market. Leveraging the award-winning capabilities of BNY Mellon, a global leader in investment servicing, CIBC Mellon’s ETF solution includes indicative net-asset-value (NAV) production, automated basket creation and redemption features, and a designated broker interface offering flexible, end-to-end automation of the order process. This solution delivers support and flexibility, meeting the operational needs of a spectrum of ETF industry participants.