TORONTO, Jan. 21, 2013 /CNW/ - Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. ("AlphaPro") are announcing that, effective immediately, the day-to-day portfolio
management responsibilities for the Horizons Active Balanced ETF (the "ETF" or "HAA") currently provided by Hillsdale Investment Management Inc. will be
assumed by Horizons Investment Management Inc. ("HIMI"), the investment manager to the ETF and an affiliate of Horizons ETFs
"We have enjoyed working with Hillsdale and thank them for the support
they have provided HAA since its launch in 2010," said Howard Atkinson, CEO of Horizons ETFs.
In addition, the ETF will change its name on or about January 30, 2013
to the Horizons Active Diversified Income ETF. The ETF's Class E units
and Advisory Class units will continue to trade on the Toronto Stock
Exchange ("TSX") under the ticker symbols HAA and HAA.A, respectively.
The ETF's investment objective remains unchanged and it will continue to
seek to provide a consistent rate of return balanced between current
income and long-term capital growth. The ETF invests primarily in a
balanced portfolio of publicly traded equity, income trust and debt
securities located primarily in Canada. In order to obtain direct or
indirect exposure to these securities, the ETF may invest in exchange
traded funds and exchange traded notes. The ETF, to the best of its
ability, seeks to hedge its non-Canadian dollar currency exposure to
the Canadian dollar at all times.
"HIMI has built a very strong investment management team which we feel is
well equipped to manage a balanced portfolio," said Mr. Atkinson. "HAA is one of the lowest cost balanced mandates in Canada and together
with HIMI's experience, we believe this can offer a winning combination
for Canadian investors."
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 $3.6 billion in
assets under management and 76 ETFs listed on the TSX, the Horizons
ETFs family makes up one of the largest families of ETFs in Canada.
Horizons ETFs is a subsidiary of Horizons ETFs Management (Canada) Inc.
and a member of the Mirae Asset Financial Group.
SOURCE: Horizons Exchange Traded Funds Inc.
For further information:
Howard Atkinson, CEO, Horizons Exchange Traded Funds Inc., (416) 777-5167