Press release from CNW Group
Horizons Exchange Traded Funds Launches Eight New Advisor Classes
Thursday, October 13, 2011
Horizons Exchange Traded Funds Launches Eight New Advisor Classes08:00 EDT Thursday, October 13, 2011TORONTO, Oct. 13, 2011 /CNW/ - Horizons Exchange Traded Funds Inc. ("Horizons ETFs") and its affiliate AlphaPro Management Inc. are pleased to announce the launch of Advisor Classes on eight more of its actively managed exchange traded funds (collectively, the "ETFs").The Advisor Classes are new classes of 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 ETFs is that the Advisor 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.The Advisor Classes of the ETFs will begin trading on the Toronto Stock Exchange ("TSX") today.The name, ticker symbol and Service Fee for the ETFs are as follows:ETF NameTicker SymbolAnnual Service FeeHorizons Dividend ETFHAL.A0.75%Horizons Global Dividend ETFHAZ.A0.75%Horizons North American Value ETFHAV.A0.75%Horizons North American Growth ETFHAW.A0.75%Horizons Balanced ETFHAA.A0.75%Horizons Corporate Bond ETFHAB.A0.50%Horizons Preferred Share ETFHPR.A0.50%Horizons Floating Rate Bond ETFHFR.A0.50%"We are very pleased to offer Advisor Class units on these actively managed ETF mandates," said Howard Atkinson, CEO of Horizons ETFs. These new Advisor Classes give Canadian investment advisors more flexibility when they wish to incorporate our ETFs into their practice. This launch brings the number of Advisor Classes that we offer to 16."The 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 $3.1 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.