date.

It gave reference to the TSX-60, which is like our top 40.

It's a Canadian markets large cap index.

And that was very simple.

The concept was and it's in the name, ETF, everyone talks about it, it's an exchange traded fund.

They said, hang on, isn't it potentially an opportunity to create a fund that's accessible on exchanges? And really the idea is that you can buy one instrument and get exposure to the whole market.

For an individual or even a fund manager, even a large fund manager, to go and buy a whole market is quite a thing.

So... actively managed etfs were introduced what does that mean for the man in the street well it