TORONTO, April 28, 2017 /CNW/ - Horizons ETFs
Management (Canada) Inc.
("Horizons ETFs") has announced that it has completed the
conversion of all advisor-class units of its Canadian-listed
exchange trade funds (ETFs) to the corresponding common class units
of the same ETF at the end of business today, April 28, 2017 (the "Conversion
Date").
Horizons ETFs, by way of a press release dated December 29, 2016, had previously announced plans
to reduce the annual management fee on the advisor-class units by
an amount equal to the applicable service fee payable by the
Manager in respect of that class of units, and either concurrently
or as soon as reasonably practicable thereafter, convert all
advisor-class units into common class units of the same ETF.
The remaining unitholders of record of converting advisor-class
units as of the Conversion Date will receive a number of whole
converted common class units of the same ETF with an aggregate net
asset value ("NAV") equal to the aggregate NAV of the units
converted, based on their respective NAVs as of the Conversion Date
(the "Conversion Ratio"). The conversion of advisor-class
units into whole common class units of the same ETF does not give
rise to a disposition by unitholders of converting advisor-class
units for tax purposes on any whole units converted. Any remaining
fractional advisor-class units will be redeemed for cash and such
redemption will be considered a disposition for tax purposes. The
Conversion Ratio of advisor-class units to common class units for
each ETF is detailed in the table below.
|
ETF
Name
|
Advisor-
Class
Management
Fee
|
Management
Fee After
Conversion
Date
|
Advisor-
Class
Ticker
|
Class E
(Common)
Ticker
|
Conversion
Ratio
|
|
Horizons Active
Corporate Bond ETF
|
1.00%
|
0.50%
|
HAB.A
|
HAB
|
1.001684
|
|
Horizons Seasonal
Rotation ETF
|
1.50%
|
0.75%
|
HAC.A
|
HAC
|
0.970588
|
|
Horizons Active Cdn
Bond ETF
|
0.92%
|
0.42%
|
HAD.A
|
HAD
|
1.000193
|
|
Horizons Active
Global Fixed Income ETF
|
0.95%
|
0.45%
|
HAF.A
|
HAF
|
0.999724
|
|
Horizons Active
Emerging Markets Dividend ETF
|
1.55%
|
0.80%
|
HAJ.A
|
HAJ
|
1.000301
|
|
Horizons Active Cdn
Dividend ETF
|
1.45%
|
0.70%
|
HAL.A
|
HAL
|
1.000747
|
|
Horizons Active US
Dividend ETF
|
1.45%
|
0.70%
|
HAU.A
|
HAU
|
1.000175
|
|
Horizons Active
Global Dividend ETF
|
1.55%
|
0.80%
|
HAZ.A
|
HAZ
|
1.001104
|
|
Horizons Enhanced
Income US Equity (USD) ETF
|
1.40%
|
0.65%
|
HEA.A
HEA.V
|
HEA
HEA.U
|
1.000599
|
|
Horizons Enhanced
Income Energy ETF
|
1.40%
|
0.65%
|
HEE.A
|
HEE
|
1.006836
|
|
Horizons Enhanced
Income Financials ETF
|
1.40%
|
0.65%
|
HEF.A
|
HEF
|
1.004611
|
|
ETF
Name
|
Advisor-
Class
Management
Fee
|
Management
Fee After
Conversion
Date
|
Advisor-
Class
Ticker
|
Class E
(Common)
Ticker
|
Conversion
Ratio
|
|
Horizons Enhanced
Income International Equity ETF
|
1.40%
|
0.65%
|
HEJ.A
|
HEJ
|
1.000317
|
|
Horizons Enhanced
Income Gold Producers ETF
|
1.40%
|
0.65%
|
HEP.A
|
HEP
|
0.995883
|
|
Horizons Enhanced
Income Equity ETF
|
1.40%
|
0.65%
|
HEX.A
|
HEX
|
1.004115
|
|
Horizons Active
Floating Rate Preferred Share ETF
|
1.05%
|
0.55%
|
HFP.A
|
HFP
|
0.999888
|
|
Horizons Active
Floating Rate Bond ETF
|
0.90%
|
0.40%
|
HFR.A
|
HFR
|
1.000939
|
|
Horizons Managed
Global Opportunities ETF
|
1.60%
|
0.85%
|
HGM.A
|
HGM
|
0.997091
|
|
Horizons Gold Yield
ETF
|
1.35%
|
0.60%
|
HGY.A
|
HGY
|
1.000085
|
|
Horizons Morningstar
Hedge Fund Index ETF
|
1.20%
|
0.45%
|
HHF.A
|
HHF
|
0.958100
|
|
Horizons Managed
Multi-Asset Momentum ETF
|
1.60%
|
0.85%
|
HMA.A
|
HMA
|
0.988591
|
|
Horizons Auspice
Managed Futures Index ETF
|
1.70%
|
0.95%
|
HMF.A
|
HMF
|
0.956829
|
|
Horizons Active Cdn
Municipal Bond ETF
|
0.79%
|
0.29%
|
HMP.A
|
HMP
|
1.000167
|
|
Horizons Natural Gas
Yield ETF
|
1.60%
|
0.85%
|
HNY.A
|
HNY
|
1.000682
|
|
Horizons Active
Preferred Share ETF
|
1.05%
|
0.55%
|
HPR.A
|
HPR
|
1.001569
|
|
Horizons Active
Floating Rate Senior Loan ETF
|
1.25%
|
0.75%
|
HSL.A
|
HSL
|
0.999463
|
|
Horizons Active US
Floating Rate Bond (USD) ETF
|
0.90%
|
0.40%
|
HUF.V
|
HUF.U
|
1.000202
|
|
Horizons Active High
Yield Bond ETF
|
1.10%
|
0.60%
|
HYI.A
|
HYI
|
1.000217
|
By way of an example, a holder of 1,000 advisor-class units of
the Horizons Active Corporate Bond ETF (HAB.A) will receive 1,001
common class units (HAB) of the same ETF based on its Conversion
Ratio. Unitholders do not have to take any action to participate in
the elimination of the service fee or the conversion described
above.
About Horizons ETFs Management (Canada) Inc.
(www.HorizonsETFs.com)
Horizons ETFs Management (Canada) Inc. and its affiliate AlphaPro
Management Inc. are innovative financial services companies
offering the Horizons ETFs family of exchange traded funds. The
Horizons ETFs family includes a broadly diversified range of
investment tools with solutions for investors of all experience
levels to meet their investment objectives in a variety of market
conditions. Horizons ETFs has more than $7.5
billion of assets under management. With 77 ETFs listed on
the Toronto Stock Exchange, the Horizons ETFs family makes up one
of the largest families of ETFs in Canada. Horizons ETFs Management (Canada) Inc. and AlphaPro Management Inc. are
members of the Mirae Asset Global Investments Group.
Horizons ETFs is a Member of Mirae Asset Global Investments.
Commissions, management fees and applicable sales taxes all may be
associated with an investment in the exchange traded funds managed
by Horizons ETFs Management (Canada) Inc. (the "ETFs"). The ETFs are not
guaranteed, their values change frequently and past performance may
not be repeated. The prospectus contains important detailed
information about the ETFs. Please read the prospectus before
investing.
Certain statements contained in this news release constitute
forward-looking information within the meaning of Canadian
securities laws. Forward-looking information may relate to a future
outlook and anticipated distributions, events or results and may
include statements regarding future financial performance. In some
cases, forward-looking information can be identified by terms such
as "may", "will", "should", "expect", "anticipate", "believe",
"intend" or other similar expressions concerning matters that are
not historical facts. Actual results may vary from such
forward-looking information. Horizons ETFs undertakes no obligation
to update publicly or otherwise revise any forward-looking
statement whether as a result of new information, future events or
other such factors which affect this information, except as
required by law.
SOURCE Horizons ETFs Management (Canada) Inc.