TORONTO – March 20, 2019 – Horizons ETFs Management (Canada) Inc. (“Horizons ETFs”) is assessing the potential impact of proposed legislative changes tabled by the Minister of Finance in the Federal Budget on March 19, 2019, on its family of exchange traded funds. Based on its preliminary assessment, Horizons ETFs has determined that the exchange traded funds listed on the table below (the “ETFs”) could be impacted by the changes after their 2019 taxation years.
The proposed legislative changes, which would not take effect with respect to the ETFs until after their respective 2019 taxation years (ending either December 15 or December 31), deal with how certain investment funds are able to allocate income and capital gains to redeeming entities. If the ETFs were to continue to carry on operations after their 2019 taxation years in the same manner as they do currently, the proposed legislative changes could potentially result in taxable distributions to the unitholders of the ETFs in respect of periods after their 2019 taxation years.
Horizons ETFs does not anticipate any impact to the tax treatment of its ETFs for their 2019 taxation years. Horizons ETFs is assessing the potential tax impact on the ETFs after their 2019 taxation years with its legal and tax advisors, as well as other industry participants, and is actively pursuing alternatives to mitigate any potential future tax impact on the ETFs or their unitholders.
Horizons ETFs will provide an update following further assessment of the proposed legislative changes.
| ETF Name | Ticker |
| Horizons S&P/TSX 60™ Index ETF | HXT |
| Horizons S&P 500® Index ETF | HXS |
| Horizons S&P/TSX Capped Energy Index ETF | HXE |
| Horizons S&P/TSX Capped Financials Index ETF | HXF |
| Horizons Cdn Select Universe Bond ETF | HBB |
| Horizons US 7-10 Year Treasury Bond ETF | HTB |
| Horizons NASDAQ-100® Index ETF | HXQ |
| Horizons EURO STOXX 50® Index ETF | HXX |
| Horizons Cdn High Dividend Index ETF | HXH |
| Horizons S&P 500 CAD Hedged Index ETF | HSH |
| Horizons US 7-10 Year Treasury Bond CAD Hedged ETF | HTH |
| Horizons Intl Developed Markets Equity Index ETF | HXDM |
| Horizons Conservative TRI ETF Portfolio | HCON |
| Horizons Balanced TRI ETF Portfolio | HBAL |
| Horizons Equal Weight Canada REIT Index ETF | HCRE |
| Horizons Laddered Canadian Preferred Share Index ETF | HLPR |
| Horizons Equal Weight Canada Banks Index ETF | HEWB |
| BetaPro S&P 500 VIX Short-Term Futures™ ETF | HUV |
| Horizons Gold ETF | HUG |
| Horizons Silver ETF | HUZ |
| Horizons Crude Oil ETF | HUC |
| Horizons Natural Gas ETF | HUN |
| BetaPro Gold Bullion 2x Daily Bull ETF | HBU |
| BetaPro Gold Bullion -2x Daily Bear ETF | HBD |
| BetaPro Crude Oil 2x Daily Bull ETF | HOU |
| BetaPro Crude Oil -2x Daily Bear ETF | HOD |
| BetaPro Natural Gas 2x Daily Bull ETF | HNU |
| BetaPro Natural Gas -2x Daily Bear ETF | HND |
| BetaPro Silver 2x Daily Bull ETF | HZU |
| BetaPro Silver -2x Daily Bear ETF | HZD |
| BetaPro S&P/TSX 60™ 2x Daily Bull ETF | HXU |
| BetaPro S&P/TSX 60™ -2x Daily Bear ETF | HXD |
| BetaPro S&P/TSX Capped Financials™ 2x Daily Bull ETF | HFU |
| BetaPro S&P/TSX Capped Financials™ -2x Daily Bear ETF | HFD |
| BetaPro S&P/TSX Capped Energy™ 2x Daily Bull ETF | HEU |
| BetaPro S&P/TSX Capped Energy™ -2x Daily Bear ETF | HED |
| BetaPro Canadian Gold Miners 2x Daily Bull ETF | HGU |
| BetaPro Canadian Gold Miners -2x Daily Bear ETF | HGD |
| BetaPro S&P 500® 2x Daily Bull ETF | HSU |
| BetaPro S&P 500® -2x Daily Bear ETF | HSD |
| BetaPro NASDAQ-100® 2x Daily Bull ETF | HQU |
| BetaPro NASDAQ-100® -2x Daily Bear ETF | HQD |
| BetaPro S&P/TSX 60™ Daily Inverse ETF | HIX |
| BetaPro S&P 500® Daily Inverse ETF | HIU |
| Horizons Morningstar Hedge Fund Index ETF | HHF |
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 $10 billion of assets under management and 86 ETFs listed on major Canadian stock exchanges. Horizons ETFs Management (Canada) Inc. is a member of the Mirae Asset Global Investments Group.
For investor inquiries:
Contact Horizons ETFs at 1-866-641-5739 (toll-free) or (416) 933-5745
[email protected]
For media inquiries:
Contact Mark Noble
Senior Vice President, ETF Strategy
Horizons ETFs Management (Canada) Inc.
(416) 640-8254
[email protected]
Categories: Press Releases