In a recent VettaFi Viewpoints episode, Dave Nadig, a financial futurist at VettaFi, sat down with Pat Chiefalo, head of ETFs & Indexed Strategies at Invesco Canada, to talk all things cross-border investing to give investors a deeper understanding of what is going on in Canada.
Chiefalo shared his insights into how the Canadian ETF market has changed in the long term, and his expectations for it in the future. The pair also discuss whether the regulatory structure in Canada is as flexible and innovative as it was 15 years ago.
In addition, Chiefalo goes in-depth explaining a key difference between Invesco’s Canadian product line versus its U.S. one. He and Nadig close the conversation by sharing their thoughts on asset allocation strategies, and whether or not there will be a reallocation out of cash and bonds, and back into equities as we head into the new year.
Cross-Border Investing
0:10 Introduction to the episode, and the topic being covered.
1:00 What has changed in the ETF market in Canada?
1:30 Layering in derivatives into ETFs.
2:30 Is the regulatory structure as flexible and innovative as it was 15 years ago?
3:30 Is the cross-border investing issue going to get better?
4:50 What do Canadian manufacturers try to do?
5:40 Why have wrapped QQQ’s products been interesting?
6:30 A key difference between Invesco’s Canadian product line versus its U.S. one.
6:50 Will the ESG space continue to be challenged?
7:30 Why has cash been king in 2023?
8:30 What has been working for advisors?
9:00 A discussion on multifactor products.
9:55 Is it the same multifactor product in Canada?
10:45 Was there a shift in the client base?
11:30 Looking to the retail audience.
12:45 Is there going to be a reallocation out of cash and bonds, and back into equities?
13:45 What is the feedback you’re getting from the field?
14:45 Why do you still need fixed income in your portfolio?
15:30 Canada has a much more active regulator compared to the U.S.
16:00 What is keeping Chiefalo excited, and up at night?
16:45 Why Chiefalo believes it’s good for regulators to do a review from time to time.
17:30 Is everything as OK as it seems in the major markets?
18:00 Closing thoughts.
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