RBC launches women-focused exchange traded fund tracking Canadian companies

RBC’s Global Asset Management group, which manages more than $400 billion in assets, has developed an ETF comprised of Canadian companies that have boards with at least 30% female representation and/or strong female director and executive-level representation. The RBC Vision Women’s Leadership MSCI Canada Index ETF will trade on the Toronto-based NEO Exchange. Top holdings

VERGE Breakthrough Fund raises $1.7 million for Ontario startups

VERGE Breakthrough Fund has raised $1.7 million for Ontario startups. The seven-year fund is looking to raise $2 million in total to provide loans to social enterprises and affordable housing initiatives. It aims to achieve a 3% return. “This is a demonstration fund. It’s meant to see if this concept has legs,” says VERGE founder Lina

Canada doubles down on innovative finance for global development

By Christopher Clubb, Convergence The Government of Canada’s new budget announced this week is good news for those living in developing countries. The budget commits CAD 1.5 billion (US$1.15 billion) over the next five years, with a further CAD 493 million annually thereafter, to support innovation in Canada’s international assistance. “Canada will do more to

Addenda Capital launches Canadian fixed-income impact fund

The Montreal-based investment firm is building an impact fund made up of public debt, commercial mortgages and other types of loans in the areas of community development, climate change, health and education. Addenda says it’s the first domestically-focused fixed-income impact fund. The fund is being built to capitalize on the rapid growth of Canadian impact