TORONTO, July 31, 2017 (GLOBE NEWSWIRE) -- 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.
Information on the fund can be found at https://www.redwoodasset.com or by speaking with your investment advisor.
About Redwood Asset Management
Redwood Asset Management is a Toronto-based investment fund manager, focused on delivering unique investment solutions managed by boutique global investment managers to Canadian investors. Redwood Asset Management is a wholly owned subsidiary of Purpose Investments Inc., which has over $3 billion in assets under management. More information about Redwood's product offerings is available at www.redwoodasset.com.
Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus before investing.