TORONTO, Aug. 31, 2021 /CNW/ - Horizons ETFs Management
(Canada) Inc. (the
"Manager") is announcing its proposal to merge the Horizons
Morningstar Hedge Fund Index ETF ("HHF" or the "Merging
Fund") into the Horizons Adaptive Asset Allocation ETF
("HRAA" or the "Continuing Fund") before the end of
2021 (the "Merger"), or such other date as the Manager may
determine, subject to the receipt of all required regulatory,
shareholder and other third party approvals. Each of HHF and HRAA
is a series of exchange traded fund shares of a separate corporate
class of Horizons ETF Corp., a mutual fund corporation established
under the federal laws of Canada.
If the Merger is approved and implemented, shareholders of HHF
will become shareholders of HRAA. Each of the Merging Fund and the
Continuing Fund is an alternative mutual fund within the meaning of
applicable securities laws which actively use futures contracts in
their investment portfolios. Additional details regarding the
special meeting of shareholders of HHF to consider and vote upon
the Merger will be announced in the coming weeks.
Effective immediately, no new subscriptions for shares of HHF
will generally be accepted. While the Manager anticipates that the
secondary market will continue to provide investors with a forum to
sell shares at a price reflective of the net asset value per share,
the Manager recommends that investors not make further purchases of
shares of HHF as the available offer price on the secondary market
may no longer be reflective of the underlying net asset value per
share.
Further details of the meeting and the Merger will be provided
in an Information Circular, which will be made available to
shareholders at www.sedar.com and www.HorizonsETFs.com.
About the Horizons ReSolve Adaptive Asset Allocation
ETF
The investment objective of HRAA is to seek long-term capital
appreciation by investing, directly or indirectly, in major global
asset classes, including but not limited to equity indexes, fixed
income indexes, interest rates, commodities and currencies.
As HRAA is a substantially larger fund also managed by the
Manager, it is the opinion of the Manager that merging HHF into
HRAA will provide shareholders of HHF with the opportunity to
continue their investment in an ETF that is in continuous
distribution, will have a larger market capitalization and that
will benefit from the active management of HRAA's sub-advisor,
ReSolve Asset Management Inc. ("ReSolve" or "the
Sub-Advisor").
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 more than $19 billion of
assets under management and 95 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.
Certain statements contained in this news release constitute
forward-looking information within the meaning of Canadian
securities laws. Forward-looking information may relate to a future
outlook and anticipated distributions, events or results and
may include statements regarding future financial performance. In
some cases, forward-looking information can be identified by terms
such as "may", "will", "should", "expect", "anticipate", "believe",
"intend" or other similar expressions concerning matters that are
not historical facts. Actual results may vary from such
forwardlooking information. Horizons ETFs undertakes no obligation
to update publicly or otherwise revise any forwardlooking statement
whether as a result of new information, future events or other such
factors which affect this information, except as required by
law.
SOURCE Horizons ETFs Management (Canada) Inc.
