Toronto, Ontario – April 28, 2020 – Hamilton Capital Partners Inc. (“Hamilton ETFs”) is pleased to announce the next phase of enhancements to its investment fund platform. Subject to all required unitholder and regulatory approvals, Hamilton ETFs is proposing to merge (the “Merger”) Hamilton U.S. Mid-Cap Financials ETF (USD) (TSX: HFMU.U, the “Terminating Fund”) into Hamilton U.S. Mid/Small-Cap Financials ETF (proposed TSX ticker: HUM, the “Continuing…
Hamilton ETFs
Hamilton ETFs Announces Proposed Merger of Hamilton Australian Financials Yield ETF into Hamilton Australian Bank Equal-Weight Index ETF
Toronto, Ontario – April 28, 2020 – Hamilton Capital Partners Inc. (“Hamilton ETFs”) is pleased to announce the next phase of enhancements to its investment fund platform. Subject to all required unitholder and regulatory approvals, Hamilton ETFs is proposing to merge (the “Merger”) Hamilton Australian Financials Yield ETF (TSX: HFA, the “Terminating Fund”) into Hamilton Australian Bank Equal-Weight Index ETF (proposed TSX ticker: HBA, the “Continuing…
Hamilton ETFs Announces Proposed Merger of Hamilton Global Bank ETF into Hamilton Global Financials ETF
Toronto, Ontario – April 28, 2020 – Hamilton Capital Partners Inc. (“Hamilton ETFs”) is pleased to announce the next phase of enhancements to its investment fund platform. Subject to all required unitholder and regulatory approvals, Hamilton ETFs is proposing to merge (the “Merger”) Hamilton Global Bank ETF (TSX: HBG, the “Terminating Fund”) into Hamilton Global Financials ETF (proposed TSX ticker: HFG, the “Continuing Fund”). If all…
Hamilton ETFs Announces Proposed Merger of Hamilton Canadian Bank Variable-Weight ETF into Hamilton Canadian Bank Mean Reversion Index ETF
Toronto, Ontario – April 28, 2020 – Hamilton Capital Partners Inc. (“Hamilton ETFs”) is pleased to announce the next phase of enhancements to its investment fund platform. Subject to all required unitholder and regulatory approvals, Hamilton ETFs is proposing to merge (the “Merger”) Hamilton Canadian Bank Variable-Weight ETF (TSX: HCB, the “Terminating Fund”) into Hamilton Canadian Bank Mean Reversion Index ETF (proposed TSX ticker: HCA, the…
One Chart: Australia Appears to be Flattening the Curve Ahead of Other Countries (including Canada)
In our Insight, “Financials: Does COVID-19 Represent a Growth Scare, Credit Event or Crisis” (March 25, 2020), we discussed the implications of the global economy moving swiftly into an undetermined period of negative economic growth which has caused stocks to fall sharply. One critical variable for every country will be when they can restart their economies, which will be heavily influenced by each country’s ability to…
Financials: Does COVID-19 Represent a Growth Scare, Credit Event or Crisis?
Since we launched our first ETF in January 2016, there have been four significant macro corrections in four years. None of those large and painful corrections represented a crisis, insofar as the declines did not represent a threat to the solvency of the financial sector, either from a lack of liquidity or the destruction of capital. Rather, they were related to the market rapidly (and, in…
Update: HFA Outperforming the Canadian Banks with Lower Volatility (in Charts)
The Hamilton Australian Financials Yield ETF (HFA) invests in one of the world’s best financial sectors, anchored by some of the world’s best capitalized banks. As evidence of the quality of the Australian financial sector, the Australian banks outperformed the Canadian banks during the global financial crisis. This strong historical performance is underpinned by the fact Australia is a higher performing economy, with GDP growth consistently…
One Chart: U.S. Bank M&A Doubles in 2019 (and Why We Expect More)
In the 10+ years since the global financial crisis, deal values in U.S. bank M&A have been slow to reach pre-crisis levels. This is notable since in the nearly 25 years preceding the financial crisis bank M&A was an important theme (particularly between 1995 to 2007) as the chart below highlights. Note to Reader: This Insight includes references to certain Hamilton ETFs that were active at…
Hamilton Global Financials Yield ETF (HFY): Strong Q4 Closes out an Excellent Two Years
For the quarter ended December 31, 2019, the Hamilton Global Financials Yield ETF (HFY) returned 4.1% including distributions. In 2019, HFY returned 21.6%, beating the Canadian banks by 750 bps[1]. It also beat its benchmark, the KBW Financial Sector Dividend Yield Total Return Index (in CAD), which returned 15.0%. Note to Reader: This Insight includes references to certain Hamilton ETFs that were active at the time of writing.…
Notes from India: All is Well in the World’s Fastest Growing Market
We had the opportunity to meet the management teams of a dozen Indian banks, insurers and asset managers in the financial capital of Mumbai, India last month. Nearly a year since our last meetings with senior bank executives and notwithstanding the recent slowing of economic growth, management teams were optimistic of India’s medium to long-term GDP growth outlook. The optimism was driven by a structural market…
HFA: Identical Return to the Canadian Banks with Much Lower Volatility (and Lower Correlations)
The Hamilton Australian Financials Yield ETF (HFA) recently celebrated its one-year anniversary. Although the global financials and the Canadian banks experienced significant volatility since its launch in December 2018, HFA has produced consistent monthly returns and dividends as well as identical returns to the Canadian banks, but with much lower volatility (and relatively low correlations). Note to Reader: This Insight includes references to certain Hamilton ETFs…
U.S. Bank M&A: Another Accretive MOE, Another Positive Market Reaction
On Monday, this year’s third (sizable) U.S. bank merger-of-equals (“MOE”) was announced, continuing a trend we expected following similar transactions early in 2019. We have previously written that after a multi-year period of muted merger activity that U.S. bank consolidation – particularly among mid-cap banks – was poised to accelerate. We have cited this theme as impacting the U.S. mid-cap financials sector generally and the banking…