Horizons Closes Four BetaPro MSCI FundsBy Andrew Rickard | January 07 2015 08:49AM
Horizons ETFs Management has announced that it will be terminating four of the exchange traded funds (ETFs) in its BetaPro MSCI family at the close of business on Friday, March 13, 2015. The four funds are:
- Horizons BetaPro MSCI Emerging Markets Bull Plus ETF
- Horizons BetaPro MSCI Emerging Markets Bear Plus ETF
- Horizons BetaPro MSCI Japan Bull Plus ETF
- Horizons BetaPro MSCI Japan Bear Plus ETF
Horizons is no longer accepting direct subscriptions for units of any of the four terminated ETFs. Investors have until Monday, March 9, 2015 to place redemption requests, and on the close of business the next day the ETFs will be delisted from the Toronto Stock Exchange.
In a news release announcing the closure, Horizons indicated that all units still held by investors on the termination date will be subject to a mandatory redemption, and they will receive the net proceeds from the liquidation of the assets, less all liabilities and all expenses incurred in connection with the dissolution of ETFs, on a pro rata basis.