Canada’s old-guard mutual fund managers are realizing they can’t buck the ETF trend any longer. Long-time asset managers including IGM Financial Inc.’s Mackenzie Investments, AGF Management Ltd. and CI Financial Corp. announced plans to offer exchange traded funds in the past month as investors seek lower-cost alternatives to traditional mutual funds. "This is another arrow in our quiver," AGF Chief Executive Officer Blake Goldring said in a Nov. 20 interview at Bloomberg offices in Toronto. AGF said it acquired a majority stake in Boston-based FFCM LLC last week, an ETF adviser firm that operates in the U.S. with an eye to bringing its products to Canada. His firm manages about C$34 billion...
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