TORONTO, June 14, 2018 /CNW/ - Horizons ETFs Management (Canada) Inc. (the "Manager") is pleased to announce that at a special meeting (the "Meeting") held on June 8, 2018, unitholders of the Horizons Robotics and Automation Index ETF (the "ETF") have overwhelmingly approved a proposed change to the ETF's investment objective. The ETF trades on the Toronto Stock Exchange (the "TSX") in both Canadian and U.S. dollars under the ticker symbols ROBO and ROBO.U, respectively.
Approved Changes to the Investment Objective of ROBO
As described in further detail in the management information circular dated April 24, 2018 (the "Circular"), the proposal put forward to unitholders was to approve a change in the investment objective to replace the underlying index whose performance the ETF seeks to replicate, net of expenses.
Under the current investment objective, the ETF seeks to replicate, to the extent possible, the performance of the ROBO Global® Robotics and Automation Index (the "Current Index"), net of expenses.
At the Meeting, unitholders approved a change to the underlying index of the ETF from the Current Index to the Indxx Global Robotics & Artificial Intelligence Thematic Index (the "New Index"). The new investment objective, when implemented, will be as follows:
The ETF seeks to replicate, to the extent possible, the performance of the Indxx Global Robotics & Artificial Intelligence Thematic Index, net of expenses. The Indxx Global Robotics & Artificial Intelligence Thematic Index is designed to provide exposure to the performance of equity securities of companies that are involved in the development of robotics and/or artificial intelligence. The ETF seeks to hedge the U.S. dollar value of its portfolio to the Canadian dollar at all times.
The Manager expects that the change to the New Index will take place on or about June 29, 2018. At that time, the ETF's ticker symbol will change from ROBO to RBOT and its management fee will be reduced from 0.75% to 0.68% (plus applicable taxes).
Horizons ETFs Management (Canada) Inc. is an innovative financial services company and offers one of the largest suites of exchange traded funds in Canada. The Horizons ETFs product suite includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs currently has approximately $10 billion of assets under management and 79 ETFs listed on major Canadian stock exchanges. Horizons ETFs Management (Canada) Inc. is a member of the Mirae Asset Global Investments Group.
Horizons ETFs is a Member of Mirae Asset Global Investments. Commissions, management fees and expenses all may be associated with an investment in exchange traded products managed by Horizons ETFs Management (Canada) Inc. (the "Horizons Exchange Traded Products"). The Horizons Exchange Traded Products are not guaranteed, their values change frequently and past performance may not be repeated. The prospectus contains important detailed information about the Horizons Exchange Traded Products. Please read the relevant prospectus before investing.
SOURCE Horizons ETFs Management (Canada) Inc.
For further information: Martin Fabregas, Investor Relations, (416) 601-2508 or 1-866-641-5739