Core Insights - TMX Group reported significant activity on the Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV) for December 2025, highlighting a notable increase in new issuers compared to previous months and years [2][4]. TSX Summary - TSX welcomed 84 new issuers in December 2025, a substantial increase from 15 in November 2025 and 7 in December 2024 [2]. - Total financings raised in December 2025 amounted to approximately $3.00 billion, a decrease of 29% from the previous month but an increase of 151% compared to December 2024 [2][6]. - The total number of financings in December 2025 was 37, down from 43 in November 2025 and up from 26 in December 2024 [2][6]. - Year-to-date statistics for 2025 show 375 new issuers listed, a 153.4% increase from 148 in 2024 [7]. - Total financings raised year-to-date in 2025 reached approximately $23.26 billion, a 44% increase from $16.15 billion in 2024 [7]. TSXV Summary - TSXV had 2 new issuers in December 2025, compared to 3 in November 2025 and 2 in December 2024 [4]. - Total financings raised in December 2025 were approximately $1.57 billion, a 14% decrease from the previous month but a 222% increase from December 2024 [4][8]. - The total number of financings in December 2025 was 123, down from 153 in November 2025 and up from 120 in December 2024 [4][8]. - Year-to-date statistics for 2025 indicate 38 new issuers listed, a decrease of 20.8% from 48 in 2024 [9]. - Total financings raised year-to-date in 2025 reached approximately $10.09 billion, a 114.7% increase from $4.70 billion in 2024 [9]. Market Capitalization - The market capitalization of listed issues on TSX reached approximately $6.28 trillion in December 2025, up from $4.90 trillion in December 2024, reflecting a 28.1% increase [6][7]. - TSXV's market capitalization was approximately $142.03 billion in December 2025, an increase of 59.9% from $88.81 billion in December 2024 [8][9].

Core Viewpoint - Closed End Funds (CEF) present unique investment opportunities that differentiate them from Exchange Traded Funds (ETF) despite the latter receiving more publicity recently [1] Group 1 - CEFs offer distinct advantages that are not available through ETFs [1] - The growing interest in ETFs has not diminished the potential benefits of investing in CEFs [1]

Core Insights - TMX Group reported a significant decrease in financing activity on the Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV) for July 2025, with total financings raised down 68% from the previous month but up 255% compared to July 2024 [2][4]. TSX Summary - In July 2025, TSX welcomed 12 new issuers, a decrease from 25 in June 2025 and an increase from 10 in July 2024 [2][5]. - Total financings raised amounted to $1.22 billion, a sharp decline from $3.77 billion in June 2025 but a significant increase from $343.36 million in July 2024 [5]. - The total number of financings was 27, down from 55 in the previous month and up from 17 in July 2024 [2][5]. - Year-to-date statistics show 152 new issuers listed, a 76.7% increase from 86 in 2024, and total financings raised of $9.71 billion, down 8% from $10.56 billion in 2024 [6]. TSXV Summary - TSXV had one new issuer in July 2025, down from five in June 2025 and three in July 2024 [4][7]. - Total financings raised were $705.31 million, a slight decrease of 3% from the previous month but up 49% from July 2024 [4][8]. - The total number of financings was 139, compared to 100 in June 2025 and 93 in July 2024 [4][8]. - Year-to-date statistics indicate 23 new issuers listed, a decrease of 20.7% from 29 in 2024, with total financings raised of $4.02 billion, a 63% increase from $2.46 billion in 2024 [9]. Market Capitalization - The market capitalization of listed issues on TSX was approximately $5.56 trillion in July 2025, reflecting growth from $4.63 trillion in July 2024 [5][6]. - TSXV's market capitalization was around $112.08 billion, up 42.2% from $78.83 billion in July 2024 [9].