Horizons Exchange Traded Funds Files For Three ETFs in the U.S.

Filing Marks Canadian ETF Provider's U.S. Debut 

NEW YORK/TORONTO, April 23, 2012 /CNW/ - Horizons Exchange Traded Funds Inc. (Horizons ETFs), and Exchange Traded Concepts, LLC (ETC) have filed a registration statement with the Securities and Exchange Commission to issue three covered call exchange traded funds (ETFs) in the United States.

The Horizons branded covered call ETFs are based on new indices from S&P Indices that seek to increase yield and mitigate downside risk by using covered calls on the individual constituent securities in the indices. The ETFs are:

• Horizons S&P 500 Covered Call ETF
• Horizons S&P Financial Select Sector Covered Call ETF
• Horizons S&P Energy Select Sector Covered Call ETF

Horizons ETFs will use ETC to list the ETFs in the United States.  ETC, a U.S. private-label ETF advisor, will serve as manager and investment adviser to the ETFs.  Mirae Asset Global Investments (USA) LLC, the sub-adviser to the ETFs, and Horizons ETFs are both subsidiaries of Mirae Asset Global Investments Co., Ltd.

The Horizons ETFs group has been an active sponsor of ETFs in Canada, with more than 80 ETFs listed on the Toronto Stock Exchange and CAD$3.3 billion in assets under management. These new ETFs will be the first ETFs listed in the U.S. market that will carry the Horizons brand name.

"We've had tremendous success in the Canadian market with our unique covered call ETFs, that use a dynamic buy-write process to reduce the risks associated with stock investing and generate monthly income," said Howard Atkinson, CEO of Horizons ETFs. "We see the United States as a natural market for the extension of our firm's current ETF line-up and believe that these innovative income generating strategies will be well-received by U.S. investors."

An investor should consider the ETF's investment objectives, risks, charges and expenses carefully before investing. This and other important information about the investment company can be found in the ETF's prospectus. To obtain a prospectus, please visit the EDGAR Database on the SEC's Internet site at http://www.sec.gov. Please read the prospectus carefully before investing.

The information in the prospectus (or Statement of Additional Information) is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. The prospectus (or Statement of Additional Information) is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state, province or country where the offer or sale is not permitted.

It is not possible to invest directly in an index. S&P Indices does not sponsor, endorse, sell, or promote any S&P index-based investment product. This document does not constitute an offer of services in jurisdictions where S&P Indices or its affiliates do not have the necessary licenses. S&P Indices receives compensation in connection with licensing its indices to third parties.

About Horizons ETFs
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 Canadian investors of all experience levels to meet their investment objectives in a variety of market conditions. With more than $3.3 billion in assets under management and 83 ETFs listed on the Toronto Stock Exchange (TSX), the Horizons ETFs family makes up one of the largest families of ETFs in Canada. (as of March 31, 2012). (www.horizonsetfs.com)

About Mirae Asset Global Investments
Mirae Asset Global Investments provides active and passive investment management solutions to clients around the world.  Known as one of the world's largest investment managers in emerging market equities (source: Investments & Pensions Europe, January 2012), Mirae Asset also invests client assets in a broad range of asset classes, through a comprehensive set of investment products.  With over 650 employees, including more than 135 dedicated investment professionals, Mirae Asset has offices in Australia, Brazil, Canada, China, Hong Kong, India, Korea, Taiwan, the U.K., the United States and Vietnam. Headquartered in Seoul, the firm manages over $52 billion in assets globally, of which more than $19 billion is invested in emerging market equities (as of March 31, 2012). Mirae Asset Global Investments (USA) LLC is a registered investment adviser focused on providing equity and fixed income investment advisory services to mutual funds, exchange traded funds, foreign investment trusts and institutions.   (www.miraeasset.com)

About Exchange Traded Concepts
ETC is carving out a niche as a portal to launch new, custom exchange-traded funds efficiently and cost-effectively through a complete turnkey solution. ETC is a private-label ETF advisor with passive exemptive relief from the SEC to launch both domestic and international equity exchange traded funds under the Investment Company Act of 1940.

Investment managers, independent advisors, foreign managers and others seeking to launch an ETF for their strategy have the opportunity to build awareness and recognition for their brand as a private label ETF and, for a relatively low initial investment, launch an ETF in approximately one-third of the time it would take to launch an ETF from scratch.
(www.ExchangeTradedConcepts.com)

For further information:

Media contact for Horizons ETFs
Howard Atkinson
CEO, Horizons Exchange Traded Funds Inc.
[email protected]orizonsetfs.com
[phone]

Media contacts for Mirae Asset Global Investments
John McInerney
Makovsky + Company
[email protected]
[phone]    

Priscilla Li
Makovsky + Company
[email protected]
[phone]