TORONTO – July 7, 2017 – 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.

For further information:
Martin Fabregas, Investor Relations, (416) 601-2508 or 1-866-641-5739.

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Horizons Announces June 2017 Distributions for its Covered Call ETFs

Horizons ETFs is a Member of Mirae Asset Global Investments. Commissions, trailing 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. The prospectus contains important detailed information about the Horizons Exchange Traded Products. Please read the relevant prospectus before investing.

The Horizons Exchange Traded Products consist of the Horizons Index ETFs ("Index ETFs"), 2x Daily Bull and -2x Daily Bear ETFs ("2x Daily ETFs"), Inverse ETFs ("Inverse ETFs"), VIX ETFs (defined below) and active ETFs. The 2x Daily ETFs and certain other Horizons Exchange Traded Products use leveraged investment techniques that can magnify gains and losses and may result in greater volatility of returns. These Horizons Exchange Traded Products are subject to leverage risk and may be subject to aggressive investment risk and price volatility risk, which, where applicable, are described in their respective prospectuses. Each 2x Daily ETF seeks a return, before fees and expenses, that is either 200% or -200% of the performance of a specified underlying index, commodity or benchmark (the "Target") for a single day. Each Index ETF or Inverse ETF seeks a return that is 100% or -100%, respectively, of the performance of a Target. Due to the compounding of daily returns, a 2x Daily ETF's or Inverse ETF's returns over periods other than one day will likely differ in amount and possibly direction from the performance of their respective Target(s) for the same period. The Horizons Exchange Traded Products whose Target is the S&P 500 VIX Short-Term Futures Index™ (the "VIX ETFs"), one of which is a 2x Daily ETF and one of which is an Index ETF, as described in their prospectus, are speculative investment tools that are not conventional investments. The VIX ETFs' Target is highly volatile. As a result, the VIX ETFs are not generally viewed as stand-alone long-term investments. Historically, the VIX ETFs' Target has tended to revert to a historical mean. As a result, the performance of the VIX ETFs' Target is expected to be negative over the longer term and neither the VIX ETFs nor their Target are expected to have positive long term performance. Investors should monitor their holdings, as frequently as daily, to ensure that they remain consistent with their investment strategies.

*The indicated rates of return are the historical annual compounded total returns including changes in per unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. The rates of return shown in the table are not intended to reflect future values of the ETF or returns on investment in the ETF. Only the returns for periods of one year or greater are annualized returns.