For Myron Genyk, co-founder and CEO of Canadian asset management firm Evermore Capital Inc. in Toronto, the crisis in Ukraine is personal.
With relatives and friends in the war-torn country, Mr. Genyk, of Ukrainian descent, said he worries about their safety. That's why Evermore will donate 100% of its revenues in March, April and May to help with humanitarian efforts, he said.
The new asset management firm on Feb. 23 launched Canada's first target-date ETFs — eight Evermore Retirement ETFs, Mr. Genyk noted.
"Although the company just started, there was no hesitation in providing support to humanitarian aid in Ukraine," said Canadian-born Mr. Genyk. Evermore will announce the amount of its financial contributions on a monthly basis, he added. Evermore also will support the Canadian Red Cross' Ukraine Humanitarian Crisis Appeal and the Ukraine Humanitarian Appeal, which was established by the Ukraine Canadian Congress and Canada-Ukraine Foundation.
Current assets under management of the Evermore Retirement ETFs total roughly C$10 million ($7.8 million), Mr. Genyk said. Evermore does not have any other products or services at this time, he added.
While Mr. Genyk said he has been able to communicate with some of his friends and family members in Ukraine by texting, there are some others he cannot reach.