The Toronto-based asset manager said it will wind up or sell the management contracts associated with its Emerge ETFs, the Canadian-listed versions of star investor Cathie Wood’s ARK exchange-traded funds. (The Logic)
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The Toronto-based asset manager said it will wind up or sell the management contracts associated with its Emerge ETFs, the Canadian-listed versions of star investor Cathie Wood’s ARK exchange-traded funds. (The Logic)
Talking point: The Ontario Securities Commission imposed a temporary trading halt on Emerge Canada’s funds last month after it failed to file financial statements and comply with working capital requirements. The regulator later revealed the company owes $5.5 million to ARK ETFs, more than it had previously reported in its financial statements. Signs of trouble at the firm began surfacing last year when the company disclosed its auditor BDO had resigned. The firm has yet to find a new auditor.
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