TORONTO, Jan. 31, 2013 /CNW/ - Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. are pleased to announce that effective immediately, they are removing the performance fees previously applicable to the Horizons Active Global Dividend ETF ("HAZ") and Horizons Active Emerging Markets Dividend ETF ("HAJ" and together with HAZ, the "ETFs"). Until today, a performance fee was payable by each ETF when its performance exceeded a benchmark, subject to certain conditions.
The management fees payable by each of the ETFs will remain unchanged.
Launched in July of 2010, HAZ seeks long-term returns consisting of regular dividend income and modest long-term capital growth. HAZ invests primarily in equity and equity related securities of companies with operations located anywhere in the world.
Launched in October of 2012, HAJ seeks long-term returns consisting of regular dividend income and modest long-term capital growth. HAJ invests primarily in equity and equity related securities of companies with operations in emerging market economies.
Horizons ETFs expects this reduction in the total fees applicable to each ETF to further enhance each ETF's ability to achieve its investment objective.
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 Toronto Stock Exchange, 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:
Martin Fabregas, Investor Relations, (416) 601-2508 or 1-866-641-5739.