TORONTO, Nov. 28, 2019 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") announced today that it has completed the reorganization (the "Reorganization") of twenty-nine exchange-traded funds (the "Reorganized ETFs") listed in the table below into Horizons ETF Corp., a single multi-class corporate fund structure managed by Horizons ETFs, as approved by unitholders of the ETFs at special meetings held earlier this month. The Reorganization was effected after the close-of-business on November 27, 2019.
Twenty-five of the Reorganized ETFs listed in the table are the Horizons ETFs' BetaPro suite of ETFs – a unique-to-Canada ETF structure that offers investors leveraged, inverse and inverse-leveraged exposure to twelve different indices and asset classes. Four of the Reorganized ETFs listed below, Horizons Gold ETF ("HUG"), Horizons Silver ETF ("HUZ"), Horizons Crude Oil ETF ("HUC") and Horizons Natural Gas ETF ("HUN") are ETFs within Horizons ETFs' Commodity suite of ETFs, which use swaps and futures contracts in order to obtain commodity exposure.
"Following months of hard work with our advisors, bank counterparties, unitholders and the regulators, we are excited to announce that we have successfully reorganized our BetaPro and Commodity suites of ETFs into our new corporate class structure," said Steve Hawkins, President and CEO of Horizons ETFs. "We wanted to keep things as straightforward as possible so none of the investment objectives, names or ticker symbols of the ETFs changed. This new corporate class structure simply allows Horizons ETFs to continue to provide tax-efficient exposure to a variety of popular asset classes."
The following Reorganized ETFs will begin trading on the TSX as a corporate class of ETF shares of Horizons ETF Corp., effective today:
REORGANIZATION INTO CORPORATE CLASS EFFECTIVE | |
Commodity Suite of ETFs | |
ETF Name | Ticker |
Horizons Gold ETF | HUG |
Horizons Silver ETF | HUZ |
Horizons Crude Oil ETF | HUC |
Horizons Natural Gas ETF | HUN |
REORGANIZATION INTO CORPORATE CLASS EFFECTIVE | |
BetaPro Suite of ETFs | |
ETF Name | Ticker |
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 NASDAQ-100® 2x Daily Bull ETF | HQU |
BetaPro NASDAQ-100® -2x Daily Bear ETF | HQD |
BetaPro S&P 500® 2x Daily Bull ETF | HSU |
BetaPro S&P 500® -2x Daily Bear ETF | HSD |
BetaPro Canadian Gold Miners 2x Daily Bull ETF | HGU |
BetaPro Canadian Gold Miners -2x Daily Bear ETF | HGD |
BetaPro Marijuana Companies 2x Daily Bull ETF | HMJU |
BetaPro Marijuana Companies Inverse ETF | HMJI |
BetaPro S&P/TSX 60™ Daily Inverse ETF | HIX |
BetaPro S&P 500® Daily Inverse ETF | HIU |
BetaPro S&P 500 VIX Short-Term Futures™ ETF | HUV |
As previously announced on November 12, 2019, Horizons ETFs anticipates that it will complete a similar corporate class reorganization in respect of the fifteen ETFs from Horizons ETFs' Total Return suite of ETFs, after the close-of-business on November 29, 2019 (the "Subsequent Reorganization"). Following the Subsequent Reorganization, these fifteen Total Return ETFs will begin trading on the TSX as a corporate class of ETF shares of Horizons ETF Corp. on December 2, 2019.
The Reorganization, and the Subsequent Reorganization, are not expected to be taxable events for Canadian resident unitholders of the affected ETFs provided that unitholders with ETF units in taxable accounts make a joint election with Horizons ETF Corp. under Section 85 of the Income Tax Act (Canada) for the exchange of their trust units into the corresponding class of ETF Shares of Horizons ETF Corp. to occur on a tax-deferred basis. Horizons ETFs has established a process to provide assistance to unitholders in taking the necessary steps to file the joint election, which is available free of charge. Additional information can be found here: https://www.horizonsetfs.com/section-85-election
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 approximately $10 billion of assets under management and 91 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.
SOURCE Horizons ETFs Management (Canada) Inc.
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