Press release from CNW Group
Horizons Exchange Traded Funds Launches 2 New Advisor Class ETFs
Thursday, September 29, 2011
Horizons Exchange Traded Funds Launches 2 New Advisor Class ETFs09:34 EDT Thursday, September 29, 2011TORONTO, Sept. 29, 2011 /CNW/ - Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. ("AlphaPro") are pleased to announce the launch of Advisor Classes for two of its ETFs.The Advisor Classes are a new class of our existing ETFs. Advisors will be directly compensated with a service fee on a trailing quarterly basis (the "Service Fee"). The only difference between the Adviser Classes and existing Class E units of our ETFs is that the Adviser Classes charge higher management fees that include the Service Fees paid to the advisor. The purchase and sale process for the Advisor Classes is identical to that of any other ETF listed on the Toronto Stock Exchange.Two Advisor Classes of the Horizons from the Horizons actively managed family of ETFs listed below will begin trading on the Toronto Stock Exchange ("TSX") today.The name, ticker symbols and Service Fee for the new Advisor Classes are as follows:Name of ETF TSX Ticker SymbolService FeeHorizons Income Plus ETFHAP.A0.50% annuallyHorizons Tactical Bond ETFHAF.A0.50% annuallyThe Advisor Classes have closed the offering of their initial units and will begin trading today on the TSX when the market opens this morning.About Horizons Exchange Traded Funds Inc. (www.horizonsetfs.com)Horizons ETFs is an innovative financial services company offering the Horizons ETFs family of ETFs. 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. With approximately $3.3 billion in assets under management and 75 ETFs listed on the TSX, the Horizons ETFs family makes up the largest selection of ETFs in Canada. Horizons ETFs is a member of the Jovian Capital Corporation (TSX: JOV) group of companies. For further information: Howard Atkinson, CEO, Horizons Exchange Traded Funds Inc., (416) 777-5167 firstname.lastname@example.org.