Horizons ETFs Announces Upcoming Change to Investment Objectives of Horizons Active Yield Matched Duration ETF

TORONTO, Sept. 9, 2014 /CNW/ - AlphaPro Management Inc. ("AlphaPro") and its affiliate Horizons ETFs Management (Canada) Inc. (collectively "Horizons ETFs") announced today that the investment objective of Horizons Active Yield Matched Duration ETF (the "ETF") is changing on or about October 6, 2014.

As a consequence of December 2013 amendments to the Income Tax Act (Canada), the ETF is no longer able to distribute gains under a forward contract as capital gains for tax purposes.  This impacts the ability of the ETF to seek to provide tax-efficient monthly distributions, and the investment objectives are being changed accordingly.

The current investment objectives of the ETF are to seek to provide unitholders with: (i) a stable stream of tax-efficient monthly distributions; and (ii) the opportunity for capital appreciation through a tactical asset allocation strategy that includes managing the duration and yield of its exposure to fixed income and fixed income-like securities according to the prevailing interest rate environment.

The new investment objectives of the ETF will not include a reference to tax-efficiency of the monthly distributions.  The new investment objectives of the ETF will be to seek to provide unitholders with: (i) a stable stream of monthly distributions; and (ii) the opportunity for capital appreciation through a tactical asset allocation strategy that includes managing the duration and yield of its exposure to fixed income and fixed income-like securities according to the prevailing interest rate environment.

AlphaPro, the manager of the ETF, has received an exemption from the applicable securities regulators from the requirement to obtain unitholder approval of this change to the investment objectives of the 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 $4.5 billion of assets under management and with 71 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.

Commissions, trailing commissions, management fees and expenses all may be associated with an investment in exchange traded funds. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated. The prospectus contains important detailed information.Please read the prospectus before investing.

SOURCE: Horizons ETFs Management (Canada) Inc.

For further information: Martin Fabregas, Senior Vice President - Sales Operations, Horizons ETFs Management (Canada) Inc., (416) 601-2508 or 1-866-641-5739, mfabregas@horizonsetfs.com

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