TORONTO, Jan. 23, 2015 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. ("AlphaPro") are announcing that, effective immediately, that Horizons ETFs will assume all day-to-day portfolio management responsibilities on the Horizons US Equity Managed Risk ETF ("HUS"). This follows a similar change that occurred in May of 2014, when Horizons ETFs assumed all day-to-day portfolio management responsibilities for the Horizons Canadian Equity Managed Risk ETF ("HUT").
With the portfolio management responsibility change, the HUS investment objectives remain unaffected and it will continue to seek to provide unitholders with exposure to (a) the performance of the S&P 500® through a portfolio of equity securities and/or index funds and (b) an actively managed basket of put and call options which seek to provide protection from significant market declines over rolling one-month periods.
"Horizons ETFs' options team, led by Hans Albrecht and Nick Piquard, has extensive experience in the options and volatility markets and will be responsible for the day-day portfolio management activities of HUS going forward," said Howard Atkinson, President of Horizons ETFs.
Horizons ETFs and AlphaPro are also announcing the elimination of the performance fees for both HUS and HUT (collectively, the "Managed Risk ETFs"). This change follows AlphaPro's announcement in November of 2014 of management fee reductions for the Managed Risk ETFs. The elimination of any potential performance fees associated with the Managed Risk ETFs further underscores Horizons ETFs commitment to lower portfolio management costs for investors.
"With the stock market in the United States continuing to hit new highs, right now may be an ideal time to introduce some protection into your equity holdings. The Managed Risk ETFs use various option strategies that seek to mitigate losses in the event of significant and sudden market declines," said Mr. Atkinson.
About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)
Horizons ETFs is an innovative financial services company 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 more than $4.6 billion in assets under management and 73 ETFs listed on the TSX, the Horizons ETFs family makes up one of the largest families of ETFs in Canada. Horizons ETFs is a member of the Mirae Asset Financial Group.
SOURCE Horizons ETFs Management (Canada) Inc.
For further information: Howard Atkinson, President, Horizons ETFs Management (Canada) Inc., (416) 777-5167, [email protected]