Tangerine Investments hits $5 billion in Assets Under Management
TORONTO, April 27, 2021 /CNW/ - Tangerine Investments has reached $5 billion in Assets Under Management. Having reached the $4 billion threshold in 2019, Tangerine is proud to see it grow year over year as more Canadians trust us with their hard-earned money.
What does $5 billion look like exactly? Well, it would be like giving the entire Canadian population $132. Combined with the fact that Tangerine's investment fees are nearly half of the industry averagei, this milestone means more Canadians are investing to meet their financial goals.
"Our goal is always to help Canadians do more with their money. This milestone and the accelerating growth we've seen for Tangerine Investments reinforces what Clients already know and love about us," said Gillian Riley, President & CEO of Tangerine Bank. "We've been helping Canadians invest online for more than a decade. We're proud to make it simpler and provide support when they need it."
The launch and growth of Tangerine's latest offering, Global ETF Portfolios, also contributed to the achievement. Tangerine Global ETF Portfolios are a simple, low-cost way to get a selection of Exchange Trade Funds (ETFs) in a mutual fund. They're a great way to invest in ETFs without having to manage the ETF investment yourself, with automatic rebalancing and pre-authorized contributions that can be set up in under 10 minutes. Plus, you can start with as little as twenty-five dollars.
Tangerine Investments offer a digital end-to-end experience that makes investing easy by providing Clients with a smart, low-cost and hassle-free way to reach their long-term financial goals. More information is available at tangerine.ca/en/products/investing.
About Tangerine Investment Funds
Tangerine Investment Funds are managed by Tangerine Investment Management Inc. and are available only by opening an Investment Fund Account with Tangerine Investment Funds Limited. Both firms are wholly-owned subsidiaries of Tangerine Bank. Tangerine Investment Funds Limited is the principal distributor of the Tangerine Investment Funds.
About Tangerine Bank
Tangerine Bank is a digital bank that delivers simplified everyday banking to Canadians. With over 2 million Clients and close to $40 billion in total assets, it's one of Canada's leading digital banks. Tangerine Bank offers banking that's flexible and accessible, products and services that are innovative, fair fees and award-winning Client service. From Savings Accounts to no-fee daily Chequing, Credit Cards, GICs, RSPs, TFSAs, Mortgages, lending products and Investment Funds through its subsidiary, Tangerine Investment Funds Limited, Tangerine Bank has the everyday banking products Canadians need. With over 1,000 employees in Canada, the bank's presence spans its website and Mobile Banking app to its 24/7 Contact Centres and Toronto-based head office. Tangerine Bank was launched as ING DIRECT Canada in 1997. In 2012 Tangerine was acquired by Scotiabank, and operates independently as a wholly-owned subsidiary.
iThe MER for the period ended December 31st, 2020 was 1.06% for the Tangerine Core portfolios and 0.77% for the Tangerine Global ETF Portfolios after applicable waivers and absorptions by the manager. Each Tangerine Investment Fund offers one series of units, and is considered equivalent to an A-series mutual fund. "A-series mutual funds" often refers to the standard "one-size-fits-all" funds that have traditionally populated the Canadian mutual funds universe. According to the Investor Economics Insight report dated June, 2020 the asset weighted MER for A-series mutual funds for the year ending December 2019 was 2.06%. The MER for each Tangerine Portfolio includes the fund's management fee and operating expenses but does not include its trading costs. Please refer to the Tangerine Portfolio's Fund Facts or MRFP for the fund's most recent trading expense ratio.
Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed or insured by the Canada Deposit Insurance Corporation or any other government deposit insurer, their values change frequently and past performance may not be repeated.
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