NEW YORK, April 2, 2016 /PRNewswire/ -- After careful consideration, the Board of Trustees of the Horizons ETF Trust has determined to close and liquidate the Horizons Korea KOSPI 200 ETF (NYSE: HKOR)(the "Fund"), which is managed and marketed by Horizons ETFs Management (USA) LLC ("Horizons USA").
The last day of trading of the Fund's shares on the NYSE Arca will be April 29, 2016. Shareholders may sell Fund shares through a broker in the standard manner through this date. Customary brokerage charges may apply to such transactions. The Fund will be closed to new investors as of April 29, 2016. Between May 2, 2016 and May 5, 2016, the Fund will be in the process of liquidating its portfolio assets. This will cause the Fund to increase its cash holdings and deviate from the investment objective and strategies stated in the prospectus.
Shareholders remaining in the Fund on May 2, 2016 will have their shares redeemed automatically and will receive cash in an amount equal to the net asset value of their shares as of the close of business on May 5, 2016. This amount includes any accrued capital gains and dividends. Shareholders remaining in the Fund on May 5, 2016 will not be charged any transaction fees by the Fund.
Whether shares are sold or are automatically redeemed, they will generally recognize a capital gain (or loss) equal to the amount received for shares above (or below) or adjusted cost basis in such shares.
For additional information, please contact Joe Cunningham (212) 205-8381 or visit www.HorizonsETFs.com/USA.
Carefully consider the Funds' investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in the Funds' prospectus, which may be obtained by calling (855) 496-3837, or by visiting www.HorizonsETFs.com/USA. Read the prospectus carefully before investing.
This information is not an offer to sell or a solicitation of an offer to buy shares of any Fund to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.
Investing involves risk, including the possible loss of principal. In addition to the normal risks associated with investing, narrowly focused investments typically exhibit higher volatility.
The Horizons Korea KOSPI 200 ETF is distributed by Foreside Fund Services, LLC, which is not affiliated with Horizons USA or any of its affiliates.
About the Horizons ETFs Group (www.HorizonsETFs.com)
Horizons ETFs Management (USA) LLC is a member of the Horizons ETFs Group. The Horizons ETFs Group consists of innovative financial services companies offering regional families of ETFs in Canada, Korea, Hong Kong, Australia, the United States and Colombia. Currently, all of the ETFs offered by these companies use the Horizons ETFs' brand with the exception of the 'BetaShares' family of ETFs in Australia and the 'Mirae Asset Tiger ETFs' family in Korea. With approximately US$10.1 billion in assets under management and 175 ETF listings worldwide (as of February 29, 2016), the Horizons ETFs Group makes up one of the largest collective families of ETFs in the world. All of the Horizons ETFs Group of companies and affiliates are subsidiaries of Mirae Asset Global Investments ("Mirae Asset").
Globally, Mirae Asset has in excess of US$75 billion of assets under management (as of February 29, 2016) across a diversified platform to offer market-leading investment services and solutions in traditional equity and fixed income products, exchange traded funds and alternative strategies, such as real estate, private equity and hedge funds. Headquartered in Korea, Mirae Asset has a presence in 12 countries worldwide, including Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Korea, Taiwan, United Kingdom, USA and Vietnam. Mirae Asset includes over 120 investment professionals dedicated to asset management in Asia and other emerging markets.
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SOURCE Horizons ETFs Management (USA) LLC