TORONTO, Nov. 28, 2012 /CNW/ - CIBC Mellon today announced that Horizons
Exchange Traded Funds Inc. and its affiliate AlphaPro Management Inc.
(together, "Horizons ETFs") awarded the company a second fund
accounting and administration mandate. In addition, Horizons ETFs
selected CIBC Mellon to provide custody and securities lending services
for Horizons' family of actively-managed ETFs.
"We conducted an extensive due diligence process on our custodial needs.
We found that CIBC Mellon offered the best combination of price and
service," said Kevin Beatson, Chief Operating Officer of Horizons ETFs. "CIBC Mellon is a world-renowned custodial service provider and we
are very confident in their ability to deliver best-in-class services
which will allow us to better serve our industry partners and ETF unit
"CIBC Mellon is committed to providing Canada's best ETF servicing
solution," said Ronald C. Landry, Executive Director, ETF services, CIBC Mellon. "This appointment highlights our ability to work with our clients to
help them to better serve their investors. We look forward to working
with Horizons ETFs as they continue to expand their business and
deliver great results to their clients."
Actively managed ETFs use professional portfolio management teams which
attempt to deliver better risk adjusted returns than indexed ETFs,
while offering lower management fees than traditional investment
funds. Horizons ETFs is Canada's largest provider of actively managed
ETFs with approximately $1.6 billion in actively managed ETF assets.
CIBC Mellon is a leading provider of ETF-servicing solutions in Canada,
currently serving the majority of ETF sponsors operating in the
Canadian market. Leveraging the award-winning capabilities of BNY
Mellon, a leader in asset servicing, CIBC Mellon's ETF solution
includes indicative net-asset-value (NAV) production, automated basket
creation and redemption features, and a designated broker interface
offering flexible, end-to-end automation of the order process. This
full-services solution delivers support and flexibility, meeting the
operational needs of a spectrum of ETF industry participants.
About Horizons Exchange Traded Funds Inc.
Horizons ETFs is an innovative financial services company offering a
broadly diversified range of investment tools for investors of all
experience levels. With approximately $3.5 billion in assets under
management and 79 exchange traded funds listed on the TSX, Horizons
ETFs helps investors to meet their investment objectives in a variety
of market conditions. Horizons ETFs is a subsidiary of Horizons ETFs
Management (Canada) Inc. and a member of the Mirae Asset Financial
For more information, visit www.horizonsetfs.com or follow them on Twitter at @horizonsetfs
About CIBC Mellon
CIBC Mellon provides asset servicing solutions, including custody,
multicurrency accounting, fund administration, unitholder
recordkeeping, pension services and securities lending services, for
institutions and corporations. We have over 1,100 people dedicated to
supporting more than 1,200 client relationships with Canadian banks,
pension funds, investment funds, corporations, governments, insurance
companies, foreign insurance trusts, foundations and global financial
institutions whose clients invest in Canada. As at September 30, 2012,
CIBC Mellon held more than CAD$1.1 trillion of assets under
administration on behalf of our clients. CIBC Mellon is headquartered
in Toronto, with offices across Canada in Vancouver, Calgary, London,
Montreal and Halifax. Founded in 1996, CIBC Mellon is 50-50 jointly
owned by Canadian Imperial Bank of Commerce (CIBC) and The Bank of New
York Mellon Corporation (BNY Mellon), the world's largest custodian.
CIBC Mellon is part of the BNY Mellon network, which as at September
30, 2012 had USD$27.9 trillion in assets under custody and
administration, USD$1.4 trillion in assets under management and global
payments processed averaging USD$1.4 trillion per day.
For more information - including CIBC Mellon's latest knowledge
leadership on issues relevant to institutional investors active in
Canada - visit www.cibcmellon.com or follow us on Twitter @CIBCMellon.
SOURCE: CIBC Mellon
For further information:
CIBC Mellon: Brent Merriman, Corporate Communications, firstname.lastname@example.org, 416-643-5065
Horizons ETFs: Mark Noble, Communications and Public Relations, email@example.com, 416-640-8254