TORONTO, May 1, 2014 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. are announcing
that, effective immediately, Horizons ETFs and Universa Investments
L.P. ("Universa") have mutually agreed that the day-to-day portfolio management
responsibilities for the Horizons Universa Canadian Black Swan ETF (the
"ETF" or "HUT") will be assumed by Horizons ETFs, the investment manager to the ETF.
This change will allow Universa to focus its efforts and expertise on
the Horizons Universa US Black Swan ETF ("HUS") which will continue to be sub-advised by Universa.
"We thank Universa for the support they have provided HUT since its
launch in 2012, and we look forward to continuing to work with Universa
on HUS" said Howard Atkinson, President of Horizons ETFs.
The ETF's investment objective remains unchanged and it will continue to
seek to provide unitholders with exposure to (a) the performance of the
S&P/TSX 60 Index™ through a portfolio of equity securities and/or index
funds and (b) an actively managed basket of put and call options that
seeks to provide protection from significant market declines over
rolling one-month periods and seeks to reduce the overall volatility of
returns of the ETF.
The ETF is expected to change its name on or about May 9, 2014 to the
Horizons Canadian Black Swan 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 HUT and HUT.A, respectively.
"Horizons ETFs' options team, which is led by Hans Albrecht and Nick
Piquard, has extensive experience in the Canadian options and
volatility markets," said Mr. Atkinson. "We think their risk-focused approach to Canadian options management is
well suited to HUT, where they will be heavily focused on managing the
options portfolio and continue to have HUT seek to protect investors
against a steep market decline as cost efficiently as possible."
HUS is also expected to change its name on or about May 9, 2014 to the
Horizons US Black Swan ETF and its Class E units and Advisory Class
units will continue to trade on the TSX under the ticker symbols HUS and HUS.A, respectively.
About Horizons ETFs (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. With
approximately $4.1 billion in assets under management and 69 ETFs
listed on the Toronto Stock Exchange (as at March 31, 2014), 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 Financial Group.
SOURCE: Horizons ETFs Management (Canada) Inc.
For further information:
Howard Atkinson, President
Horizons ETFs Management (Canada) Inc.