Manulife Multifactor Emerging Markets Index ETF (MEME.B) has closed its initial offering of units and is now trading on the Toronto Stock Exchange, Manulife Investments, a division of Toronto-based Manulife Asset Management Ltd., announced Tuesday.
The new multifactor ETF is subadvised by Dimensional Fund Advisors Canada ULC and DFA Australia Ltd.
Dimensional, a pioneer of multifactor investing, developed the index that this ETF is designed to track by using their time-tested multifactor approach and taking into account efficient implementation of this strategy into an index, using Dimensional’s proprietary Index MemoryTM technique, Manulife says in a news release.
“We believe that offering our investors a holistic suite of investment products ensures that they have access to an excellent value proposition,” says Bernard Letendre, head of wealth and asset management, Manulife Canada, in a statement.
The new ETF features a management fee of 0.65%.