NEW YORK, Feb. 1, 2017 /PRNewswire/ -- Horizons ETFs
Management (USA) LLC ("Horizons
USA"), a member of the
Horizons Exchange Traded Funds Group, one of the largest collective
families of exchange traded funds (ETFs) in the world, is pleased
to announce that it has completed its acquisition of Recon Capital
Advisors, LLC ("RCA") that was announced on November 1, 2016.
Under the terms of the acquisition, the four ETFs managed by RCA
have been formally merged with Horizons USA's ETF platform.
Horizons USA now offers five
U.S. listed ETFs, representing approximately U.S. $150 million in assets under management (as of
December 31, 2016). This family
of ETFs includes the Horizons S&P 500® Covered Call
ETF, which is listed on the New York Stock Exchange under the
ticker symbol HSPX.
The names of three ETFs that carry the Recon name will soon
change as indicated below. No changes will be made to the BullMark
LatAm Select Leaders ETF (NASDAQ: BMLA). The changes are set out in
the table below.
The investment objectives and strategies of the three ETFs as
well as their exchange ticker symbols will not change.
|
Current ETF
Name
|
New ETF
Name
|
Ticker
Symbol
|
|
Recon Capital DAX
Germany ETF
|
Horizons DAX Germany
ETF
|
(Nasdaq:
DAX)
|
|
Recon Capital NASDAQ
100 Covered Call ETF
|
Horizons Nasdaq-100
Covered Call ETF
|
(Nasdaq:
QYLD)
|
|
Recon Capital USA
Managed Risk ETF
|
Horizons USA Managed
Risk ETF
|
(NYSE:
USMR)
|
Horizons USA also plans to
launch three additional ETFs that are anticipated to list in Q2
2017, which will focus on both global and domestic risk-managed
income. This is consistent with Horizons USA's investment philosophy of redefining
risk, enhancing yield and diversifying allocations to meet the
evolving needs of global investors.
About the Horizons ETFs Group (www.HorizonsETFs.com)
Horizons ETFs Management (USA)
LLC is a member of the Horizons ETFs Group. The Horizons ETFs Group
consists of innovative financial services companies offering
regional families of ETFs in Canada, Korea, Hong
Kong, Australia,
the United States and Colombia. Currently, all of the ETFs offered
by these companies use the Horizons ETFs' brand with the exception
of the 'BetaShares' family of ETFs in Australia and the 'Mirae Asset Tiger ETFs'
family in Korea. With approximately U.S. $12.5 billion in assets under management and 215
ETF listings worldwide (as at December 31,
2016), the Horizons ETFs Group makes up one of the largest
collective families of ETFs in the world. All of the Horizons ETFs
Group companies and affiliates are subsidiaries of Mirae Asset
Global Investments Co., Ltd.
About Mirae Asset Global Investments (www.MiraeAsset.com)
Mirae Asset Global Investments is one of the world's largest
investment managers in emerging market equities. With over 650
employees, including 146 dedicated investment professionals, Mirae
Asset offers a breadth of emerging markets expertise. Mirae Asset's
offices are located in Australia,
Brazil, Canada, China, Colombia, Hong
Kong, India, Korea,
Taiwan, the U.K., the United States and Vietnam. Headquartered in Seoul, South Korea, the firm manages U.S.
$90.3 billion in assets globally (as
of December 31, 2016) through a
diversified platform to offer market-leading franchises in
traditional equity and fixed income products, ETFs and alternative
strategies, such as real estate, private equity and hedge funds.
Mirae Asset Global Investments (USA) LLC is focused on providing equity and
fixed income investment advisory services to mutual funds, foreign
investment trusts and institutions.
Exchange Traded Fund investing involves risk, including loss
of principal.
Before investing you should carefully consider each Fund's
investment objectives, risks, charges and expenses. This and other
information is in their respective prospectus which can be found
at www.horizonsetfs.com (HSPX) and
www.reconfunds.com (DAX, QYLD, USMR, & BMLA). Please
read the prospectus carefully before you invest. Distributor:
Foreside Fund Services, LLC.
Individual shares of the Horizons-branded exchange traded
funds (the "Funds") may be purchased or sold in the secondary
market throughout the regular trading day. However, shares of HSPX
are not individually redeemable directly from the Funds. Each Fund
issues and redeems shares on a continuous basis, at NAV, only in
blocks of at least 50,000 shares ("Creation Units"), principally
in-kind for securities included in the relevant Index. Recon Funds'
Shares are bought and sold at market price (not NAV), are not
individually redeemable, and owners of the Shares may acquire those
Shares from the Funds and tender those shares for redemption to the
Funds in Creation Unit aggregations only, consisting of 50,000
Shares. Brokerage commissions will reduce returns.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/horizons-etfs-management-usa-llc-finalizes-acquisition-of-recon-capital-advisors-300400705.html
SOURCE Horizons ETFs Management (USA) LLC
