TORONTO, Jan. 20 /CNW/ - AlphaPro Management Inc. ("AlphaPro"), the trustee and manager of the Horizons Gold Yield Fund (the "Fund"), is pleased to announce the Fund's first monthly distribution in the
amount of $0.0720 per Class A unit and Class F unit of the Fund. The
Class A units of the Fund are listed for trading on the Toronto Stock
Exchange (TSX) under the symbol HGY.UN. The Class F units of the Fund are not publicly listed.
The Fund's investment objectives are to provide unitholders with: (i)
exposure to the price of gold bullion hedged to the Canadian dollar,
less the Fund's fees and expenses; and (ii) tax-efficient monthly
distributions, initially expected to be $0.0542 per unit ($0.65 per
annum to yield 6.5% on the issue price of $10.00 per unit). It is
initially expected that monthly distributions received by unitholders
will consist primarily of return of capital.
The distribution represents the prorated portion of the targeted annual
distribution of $0.65 per Class A and Class F unit for the period from
December 20, 2010, the date of the Fund's initial public offering, to
January 31, 2011. The distribution is payable on February 10, 2011, to
Class A and Class F unitholders of record on January 31, 2011.
About AlphaPro Management Inc. (www.HAPETFs.com)
AlphaPro is an innovative financial services company specializing in
actively managed exchange traded funds with assets under management of
approximately $569 million as of December 31, 2010. AlphaPro is a
subsidiary of BetaPro Management Inc. ("BetaPro"). BetaPro is Canada's largest provider of single, inverse, leveraged,
inverse leveraged and spread ETFs. BetaPro manages approximately $2.6
billion in assets as of December 31, 2010. BetaPro is a subsidiary of
Jovian Capital Corporation (JOV:TSX).
SOURCE Horizons Gold Yield Fund
For further information:
Martin Fabregas, Investor Relations, (416) 601-2508