TORONTO, July 21, 2020 /CNW/ - Horizons ETFs
Management (Canada) Inc.
("Horizons ETFs" or the "Manager") is announcing a
change to the exposure of the Horizons Crude Oil Rolling Futures
Index (the "Underlying Index"), the proprietary underlying
index of the BetaPro Crude Oil Leveraged Daily Bull ETF1
("HOU") and the BetaPro Crude Oil Inverse Leveraged Daily
Bear ETF2 ("HOD", and together with HOU, the
"ETFs").
As a result of some stabilization of crude oil futures prices
and negotiations with the ETFs counterparties, the Manager is
announcing that the exposure of the Underlying Index will not roll
to the December crude oil futures contract today, which is the
contract expiry date for the current front-month August crude oil
futures contract. The Underlying Index is now expected to remain
exposed to the November crude oil futures contract until
August 20, 2020, which is the
contract expiry date for the September crude oil futures
contract.
This change is in keeping with the Underlying Index's goal
disclosed in the prospectus of the ETFs, which is to endeavor to
provide exposure to as close to the front month crude oil futures
contract as is deemed reasonable by the Manager, based on the
current market conditions for crude oil futures contracts and
subject to negotiations with the counterparties.
The roll methodology for the Underlying Index (which includes
roll dates, the primary and secondary futures contracts, and the
allocation between the primary and secondary futures contract) may
be changed at any time by the Manager in its sole discretion based
on, among other things, negotiations with the ETFs' counterparties,
liquidity for the underlying primary and secondary futures
contracts as the primary futures contract's expiry approaches. The
Manager posts the current roll methodology for the Horizons Crude
Oil Rolling Futures Index on its website, www.HorizonsETFs.com.
About Horizons ETFs Management (Canada) Inc.
(www.HorizonsETFs.com)
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 family 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 has almost $14 billion of assets
under management and 92 ETFs listed on major Canadian stock
exchanges.
Commissions, management fees and expenses all may be
associated with an investment in exchange traded products (the
"Horizons Exchange Traded Products") managed by Horizons ETFs
Management (Canada) Inc. 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.
The Horizons Exchange Traded Products may have exposure to
leveraged investment techniques that magnify gains and losses and
which may result in greater volatility in value and could be
subject to aggressive investment risk and price volatility risk.
Such risks are described in the prospectus.
Certain statements may constitute a forward-looking
statement, including those identified by the expression "expect"
and similar expressions (including grammatical variations thereof).
The forward-looking statements are not historical facts but reflect
the author's current expectations regarding future results or
events. These forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results or events
to differ materially from current expectations. These and other
factors should be considered carefully and readers should not place
undue reliance on such forward-looking statements. These
forward-looking statements are made as of the date hereof and the
authors do not undertake to update any forward-looking statement
that is contained herein, whether as a result of new information,
future events or otherwise, unless required by applicable
law.
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1 Previously known as the BetaPro Crude Oil
Daily Bull ETF
2 Previously known as the
BetaPro Crude Oil -1x Daily Bear ETF
SOURCE Horizons ETFs Management (Canada) Inc.
