The meetings are being held to consider and vote upon resolutions to approve the following:
Proposed Fee Structure: for each ETF, a modified fee structure that would bring the itemized operating expenses payable by the ETFs into conformity with generally prevailing Canadian industry practice for investment funds, and may potentially result in an increase in the operating expenses payable by certain ETFs, as further described in the management information circular dated November 15, 2016 (the “Circular”);
If approved, the foregoing changes to the operating expenses of the ETFs will take effect on January 1, 2017.
Change in Investment Objectives: for Horizons BetaPro S&P/TSX Global Gold™ Bull Plus ETF (“HGU”) and Horizons BetaPro S&P/TSX Global Gold™ Bear Plus ETF (“HGD”) only, a change in the investment objective of each ETF. It is proposed that the Underlying Index of HGU and HGD will be changed from the S&P/TSX Global Gold Index™ to the Solactive Canadian Gold Miners Index, as further described in the Circular.
If approved, the foregoing changes to the investment objectives of HGU and HGD will take effect on December 30, 2016. In connection with the foregoing changes, the Manager intends to change the name of HGU to “BetaPro Canadian Gold Miners 2x Daily Bull ETF” and the name of HGD to “BetaPro Canadian Gold Miners -2x Daily Bear ETF”.
Further details of the Meetings and the Manager’s proposals are described in the Circular, which will be mailed to unitholders on or about November 15, 2016, and is available on the internet at www.sedar.com.
About Horizons ETFs Management (Canada) Inc.
Horizons ETFs Management (Canada) Inc. and its affiliate AlphaPro Management Inc. are innovative financial services companies offering the Horizons ETFs family of exchange traded funds. 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. Horizons ETFs has more than $6.7 billion of assets under management and with 75 ETFs listed on the Toronto Stock Exchange, the Horizons ETFs family makes up one of the largest families of ETFs in Canada. Horizons ETFs Management (Canada) Inc. and AlphaPro Management Inc. are members of the Mirae Asset Global Investments Group.
For further information, contact:
Martin Fabregas, Investor Relations
(416) 601-2508 or 1-866-641-5739
MFabregas@HorizonsETFs.com
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 forward-looking information. Horizons ETFs undertakes no obligation to update publicly or otherwise revise any forward-looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law.
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