TORONTO, April 3, 2018 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") announces a special meeting of unitholders to approve a change to the underlying index tracked by the Horizons Robotics and Automation Index ETF (the "ETF"), which currently trades on the Toronto Stock Exchange under the ticker symbol ROBO. 

Under the current investment objective, the ETF seeks to replicate, to the extent possible, the performance of the ROBO Global® Robotics and Automation Index (the "Current Index"), net of expenses. The Current Index is designed to provide exposure to the performance of equity securities of robotics-related and/or automation-related companies. Subject to the approval of unitholders at a special meeting to be held on or about June 8, 2018, the ETF would change its underlying index from the Current Index to the Indxx Global Robotics & Artificial Intelligence Thematic Index (the "Proposed Index"). The Proposed Index has been designed to provide exposure to public companies in developed markets that are involved in industrial robotics and automation, artificial intelligence, unmanned vehicles and drones, and non-industrial robotics. The Proposed Index will provide investors of the ETF with similar thematic exposure to robotics, automation and artificial intelligence companies as currently provided by the Current Index. In connection with this proposed change, if approved, the management fee of the ETF is expected to be reduced from 0.75% to 0.68%, and the ticker symbol is expected to change from ROBO to RBOT.

The Proposed Index is currently tracked by an exchange traded fund domiciled in the United States and which is managed by Global X Management Company LLC ("Global X").  As has previously been announced, Global X has entered into an agreement and plan of merger ("Acquisition") that, if consummated, would result in Global X becoming an indirect wholly-owned subsidiary of Mirae Asset Global Investments Co., Ltd ("Mirae Asset").  

Horizons ETFs has mutually agreed with ROBO Global, LLC, the index provider of the Current Index, to terminate the license agreement in respect of the Current Index. Subject to receipt of all regulatory and third party approvals and closing of the Acquisition by Mirae Asset, Horizons ETFs and ROBO Global LLC intend to mutually coordinate an orderly transition of the ETF from the Current Index to the Proposed Index.

Additional details of the proposed changes will be outlined in a management information circular that will be prepared and delivered to unitholders of record as of April 18, 2018. Implementation of these changes will be subject to regulatory and any other necessary third party approvals.

About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)

Horizons ETFs Management (Canada) Inc. is an innovative financial services company and offers one of the largest suites of exchange traded funds in Canada. The Horizons ETFs product suite includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs currently has more than $10 billion of assets under management and 81 ETFs listed on the Toronto Stock Exchange. Horizons ETFs Management (Canada) Inc. is a member of the Mirae Asset Global Investments Group.

About Mirae Asset Global Investments

Mirae Asset Global Investments is the asset management business of Mirae Asset Financial Group, one of Asia's largest independent financial companies with approximately $400 billion in assets globally across investment banking and brokerage, life insurance and asset management.  With approximately 730 employees, including 167 dedicated investment professionals, Mirae Asset Global Investments offers its clients a comprehensive suite of investment solutions from its offices in Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Korea, Taiwan, the U.K., the U.S., and Vietnam. Headquartered in Seoul, South Korea, the firm manages US$122 billion in assets globally (as of December 31, 2017) through a diversified platform offering market-leading franchises in traditional equity and fixed income products, ETFs and alternative strategies, such as real estate, private equity and hedge funds.

Commissions, management fees and expenses all may be associated with an investment in exchange traded products managed by Horizons ETFs Management (Canada) Inc. (the "Horizons Exchange Traded Products"). The Horizons Exchange Traded Products are not guaranteed, their values change frequently and past performance may not be repeated. Please read the relevant prospectus before investing.

"ROBO Global" and "ROBO Global®," are trademarks of ROBO Global, LLC and have been licensed for use for certain purposes by Horizons ETFs.  Horizons Robotics and Automation Index ETF, based on the ROBO Global® Robotics and Automation Index, is not sponsored, endorsed, sold or promoted by ROBO Global, LLC or its affiliates, and neither ROBO Global, LLC nor any of its affiliates makes any representations regarding the advisability of trading in such product.

SOURCE Horizons ETFs Management (Canada) Inc.