TORONTO, Nov. 28, 2014 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. (the "Manager") announced today that they will be terminating the Horizons Active S&P/TSX 60™ Index Covered Call ETF (the "ETF") effective at the close of business on Friday, February 6, 2015 (the "Termination Date"). The classes of the ETF being terminated are as follows:
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ETF
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Class of Units
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Ticker
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Horizons Active S&P/TSX 60™ Covered Call Index ETF
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Class E
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HAX
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Advisor Class
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HAX.A
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Effective immediately, no further direct subscriptions for units of the ETF will be accepted. Monday, February 2, 2015 is expected to be the last date on which a redemption request may be placed with the Manager, and the ETF is expected to be de-listed from the Toronto Stock Exchange, at the request of the Manager, at the close of business on or about Tuesday, February 3, 2015, with all units still held by investors being subject to a mandatory redemption as of the Termination Date.
Any remaining unitholders of the ETF as at the Termination Date will receive the net proceeds from the liquidation of the assets, less all liabilities and all expenses incurred in connection with the dissolution of the ETF, on a pro rata basis.
The ETF will not make its regular monthly distribution declaration for November. Instead, the ETF expects to distribute sufficient net income (including net capital gains) so that it will not be liable for ordinary income tax upon termination of the ETF. Such distribution, if any, will be included in the net proceeds of termination paid to unitholders. The ETF's dividend reinvestment plan (DRIP) will be discontinued subsequent to the regular October distribution payment.
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 $4.8 billion of assets under management and with 72 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 Financial Group.
SOURCE Horizons ETFs Management (Canada) Inc.
Martin Fabregas, Investor Relations, (416) 601-2508 or 1-866-641-5739.Copyright CNW Group 2014