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.”

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

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.
Fuente: CTVCalgary - 🏆 26. / 68 Leer más »

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
Fuente: CTVCalgary - 🏆 26. / 68 Leer más »

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.
Fuente: GlobalNational - 🏆 81. / 51 Leer más »