TORONTO, Sept. 9, 2011 /CNW/ - Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. are pleased to announce
the launch of Advisor Classes for its exchange traded funds ("ETFs").
The Advisor Classes are new classes of four of the existing ETFs.
Advisors will be directly compensated with a service fee on a trailing
quarterly basis (the "Service Fee"). The only difference between the Adviser Classes and existing Class E
units of the ETFs is that the Adviser Classes charge a higher
management fee by an amount equal to the Service Fee paid to the
advisor. The purchase and sale process for the Advisor Classes is
identical to that of any other ETF listed on the Toronto Stock
Four Advisor Classes of the Horizons Enhanced Income ETFs listed below
will begin trading on the Toronto Stock Exchange ("TSX") today.
The name, ticker symbol and Service Fee for the new Advisor Classes are
Name of ETF
Horizons Enhanced Equity Income ETF
Horizons Enhanced Income Financials ETF
Horizons Enhanced Income Energy ETF
Horizons Enhanced Income Gold Producers ETF
"Horizons ETFs has always believed that the majority of investors
benefit from professional advice offered through a financial advisor
and that advice deserves compensation. These Advisor Classes offer
investment professionals a degree of flexibility that may work better
for a segment of their clientele or business model," said Howard Atkinson, CEO of Horizons ETFs. "It is anticipated that we will launch additional Advisor Classes,
increasing the number of advisors who can use our ETFs and ensuring
that more Canadian investors have access to our innovative suite of
The Advisor Classes have closed the offering of their initial units and
will begin trading today on the TSX when the market opens this morning.
About Horizons Exchange Traded Funds Inc. (www.horizonsetfs.com)
Horizons ETFs is an innovative financial services company offering the
Horizons ETFs family of ETFs. 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. With approximately $3.3 billion in
assets under management and more than 70 ETFs listed on the TSX, the
Horizons ETFs family makes up the largest selection of ETFs in Canada.
Horizons ETFs is a member of the Jovian Capital Corporation (TSX: JOV)
group of companies.
SOURCE HORIZONS EXCHANGE TRADED FUNDS INC.
For further information:
Howard Atkinson, CEO, Horizons Exchange Traded Funds Inc., (416) 777-5167