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- Actively managed portfolio, primarily of U.S. mid-cap (US$0.5 bln to US$20 bln market-cap) financial services companies
- Consensus Portfolio-Weighted EPS Growth of 16.5% (2018E)
- Universe as large as the Canadian equity markets with over 500 firms with a combined market cap over $2 trillion, including over 180 banks, over 75 insurers, and over 250 other financials (brokerages, asset managers, exchanges and REITs)
- Targeted exposure to firms with greater rate sensitivity, M&A potential and operating in higher growth regions/states
- Scroll down for HFMU.U Manager Commentary
- Managed by Rob Wessel, Jennifer Mersereau & Babak Assadi
HFMU.U Manager Commentary
HBG: Notes from the Field: Everything’s Peachy in Atlanta (June 13, 2017)
Top 10 Holdings1
|#||Ticker||Name||Sub-Sector||Market Cap (US$)||Weight|
|1||LAZ||Lazard Ltd.||Capital Markets||$5.9 bln||3.6%|
|2||WAL||Western Alliance Bancorp (AZ)||Banks||$5.6 bln||3.5%|
|3||FRC||First Republic Bank (CA)||Banks||$16.5 bln||3.0%|
|4||ZION||Zions Bancorporation (UT)||Banks||$9.5 bln||3.0%|
|5||PNFP||Pinnacle Financial Partners (TN)||Banks||$5.2 bln||3.0%|
|6||PPBI||Pacific Premier Bancorp (CA)||Banks||$1.5 bln||2.9%|
|7||SBCF||Seacoast Banking Corp (FL)||Banks||$1.0 bln||2.7%|
|8||LNC||Lincoln National Corp||Insurance||$16.3 bln||2.6%|
|9||HOMB||Home BancShares (AR)||Banks||$3.6 bln||2.6%|
|10||ETFC||E*TRADE Financial Corp||Capital Markets||$12.0 bln||2.6%|
1. As at September 29, 2017, as a percent of net asset value.
Additional Portfolio Disclosure as of September 29, 2017
- HFMU.U had 59 holdings, including 36 banks, 10 insurers, 6 asset managers, and 5 investment banking / brokerage companies
- Of the 36 banks, 33 had total assets of less than $100 billion
- The banks are headquartered in 28 different states, across all regions, including 24% of the portfolio in the West, 20% in the Southeast, 14% in the Midwest, 9% in the Southwest, 20% in the Mid-Atlantic, and 5% in the Northeast
- Of the 10 insurance companies, there are 5 P&C insurers, 3 life insurers, and 2 multi-line insurers
The investment objective of Hamilton Capital U.S. Mid-Cap Financials ETF (USD) (“HFMU.U”) is to seek long-term returns, consisting of long-term capital growth and dividends from an actively managed equity portfolio of, primarily, United States-based mid-cap financial services companies.
HFMU.U will seek to achieve its investment objective through the selection of equity investments in financial services companies that, in the Portfolio Adviser’s view, represent an attractive investment opportunity, relative to other such companies. In determining which companies to include in the ETF’s portfolio, the Portfolio Adviser will apply specialized analysis and expertise, reviewing a company’s individual attributes such as its valuation and growth prospects, as well as the macro environment, including, but not limited to, GDP growth, inflation and interest rate trends, fiscal and monetary policies, and regulatory trends within its subsector, or geography.
The ETF’s portfolio is anticipated to be comprised primarily of mid-cap (i.e., having a market capitalization of between US$500 million and US$20 billion) companies based in the United States. However, the ETF’s investments may be selected from any subsector, country, or capitalization level of the global financial services sector. Specifically, the portfolio may include, but is not limited to, commercial and investment banks, insurance companies, brokerages, asset managers, exchanges, real estate investment trusts and other investment companies. The ETF does not seek to hedge its exposure to the U.S. dollar back to the Canadian dollar.
|Ex-Dividend Date||Record Date||Payment Date||Payment Amount||Type||Distribution Frequency|
2017-09-20 Hamilton Capital Announces September 2017 Distributions (CNW)
2016-12-13 Howard J. Atkinson Joins Board of Hamilton Capital (CNW)
2016-01-14 Hamilton Capital products among a crowded field of ETF hopefuls (Globe and Mail)
To view the filings of the Hamilton Capital U.S. Mid-Cap Financials ETF (USD) (HFMU.U) on SEDAR, please click here.
Quarterly Summary of Investment Portfolio
Independent Review Committee
2017-01-14 2016 Annual Report to Securityholders
Disclaimer: A prospectus containing important information relating to these securities has been filed with the securities commissions or similar authorities in certain jurisdictions of Canada. Copies of the prospectus may be obtained from email@example.com, www.hamilton-capital.com or on the SEDAR website (www.sedar.com).
Commissions, trailing commissions, management fees and expenses all may be associated with an investment in exchange traded products managed by Hamilton Capital Partners Inc. (the “Hamilton Products”). The Hamilton Products are not guaranteed, their values change frequently and past performance may not be repeated. The prospectus contains important detailed information about the Hamilton Products. Please read the prospectus before investing.