a subsidiary of Purpose Investments Inc.

Redwood Asset Management Launches U.S.-Dollar ETF Units of the Redwood U.S. Preferred Share Fund

Redwood Asset Management Inc. (“Redwood”) is pleased to announce the listing of U.S.-dollar-denominated ETF units (“Units”) of the Redwood U.S. Preferred Share Fund (RPU, RPU.B and now RPU.U).  Redwood has completed the initial public offering of the Units, which will commence trading on the Aequitas NEO Exchange today under the ticker symbol RPU.U.

“The addition of a U.S. dollar ETF to our Redwood US Preferred Share Fund provides clients an excellent opportunity to invest their U.S. dollar holdings in an expertly managed, active strategy for yield and appreciation in the U.S. preferred share market,” said Peter Shippen, President and Chief Executive Officer of Redwood Asset Management.  “Canadian investors can invest their U.S. dollars in this Nuveen-managed strategy.”

 

Redwood U.S. Preferred Share Fund

The Redwood U.S. Preferred Share Fund, managed by a Chicago-based Nuveen Asset Management, employs a fundamental, active approach that combines bottom-up credit research and top-down structural analysis to invest in U.S. institutional preferred securities that currently offer some of the most attractive yields in the investment-grade universe. The Fund provides access to preferred shares across the US$1,000-par institutional market, using a fundamental approach to identify high-quality securities and opportunistically capture structural inefficiencies caused by liquidity and technical factors. The Fund now offers currency hedged (RPU), non-currency hedged (RPU.B), and U.S.-dollar-denominated (RPU.U) units.

Return to Press Releases