TORONTO, July 7, 2017 /CNW/ - Horizons ETFs Management
(Canada) Inc. and its affiliate
AlphaPro Management Inc. (collectively "Horizons ETFs") are
announcing that, as a result of efforts to reduce the operating
costs for certain exchange traded funds (the "ETFs"), we
will be eliminating the pre-authorized cash contribution plans
("PACCs") and the systematic withdrawal plans
("SWPs") offered by Horizons ETFs effective August 1, 2017. Individual dealers may continue
to offer their own PACC and SWP programs to their clients.
Unitholders do not have to take any action in connection with the
termination of the PACCs and SWPs.
In addition, Horizons ETFs is amending the distribution
frequency for the four ETFs listed in the table below from monthly
to quarterly to more accurately align with the dividend frequency
of the constituent holdings of each ETF. There will be no monthly
distributions on these four ETFs with July and August 2017 record dates. The first quarterly
distribution will have a record date of September 29, 2017, and will be payable on or
about October 12, 2017. A similar
schedule will follow for each subsequent quarter. It is not
anticipated that the quarterly distribution amount per unit will be
significantly different from the sum of the three monthly
distribution rates that previously would have been declared. The
affected ETFs are as follows:
|
ETF
Name
|
Ticker
Symbol(s)
|
New
Frequency
|
Previous
Frequency
|
|
Horizons Active
Emerging Markets Dividend ETF
|
HAJ
|
Quarterly
|
Monthly
|
|
Horizons Active Cdn
Dividend ETF
|
HAL
|
Quarterly
|
Monthly
|
|
Horizons Active US
Dividend ETF
|
HAU, HAU.U
|
Quarterly
|
Monthly
|
|
Horizons Active
Global Dividend ETF
|
HAZ
|
Quarterly
|
Monthly
|
Neither the elimination of the PACCs and SWPs, nor the changes
to these distribution frequencies will impact the ETFs'
distribution reinvestment plans ("DRIPs"). Unitholders may
continue to participate in the DRIP of any eligible
ETF.
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 $8
billion of assets under management and 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.
SOURCE Horizons ETFs Management (Canada) Inc.