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 and AlphaPro.
"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