Investment management company Emerge owes $2.5-million to the ETF funds it oversees

Investment management company Emerge, whose exchange-traded funds were abruptly slapped with a trading halt by regulators last week,

The amounts owed to the funds are money that was “pre-paid” to Emerge for managing the ETFs, according to a note in the funds’ 2019 annual financial statements. Emerge said the money was used to cover operating expenses for the funds, a cost that is typically paid directly by a fund manager when first launching an ETF or mutual fund, in order to keep management fees low for investors.

Emerge said that over the life of the Ark funds it agreed to cover just under $1-million in fund expenses, an arrangement called “cost absorption.”

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

5 charged in 'nefarious and elaborate' Calgary investment schemeFive people face charges in connection with a scam involving a phony website that police say was tricking investors to believe it was legitimate.
Source: CTVCalgary - 🏆 26. / 68 Read more »

23 Alberta post-secondary schools to benefit from provincial investmentAlmost two-dozen Alberta universities, colleges and institutes will be assisted through a $193-million investment, the details of which was announced by the provincial government on Thursday. Post secondary institutions are just another way to steal tax dollars
Source: CTVCalgary - 🏆 26. / 68 Read more »

5 charged in national money laundering, theft scheme involving fake investment website | Globalnews.caA fake website lured 'numerous' investors with high-interest investment opportunities via search engines and listed contact information for fake representatives, police said.
Source: GlobalNational - 🏆 81. / 51 Read more »