Horizons ETFs to close two ETFs

By The IJ Staff | December 03 2018 01:30PM

Photo: Freepik

Horizons ETFs Management (Canada) Inc. announced Nov. 30 that it will be terminating the Horizons Global Currency Opportunities ETF (HGC) and the Horizons Active Intl Developed Markets Equity ETF (HADM) effective at the close of business on Feb. 14, 2019.

No further direct subscriptions for units of these ETFs are being accepted. Feb. 8, 2019, is expected to be the last date on which a redemption request may be placed, and the ETFs are expected to be de-listed from the Toronto Stock Exchange at the close of business on or about Feb. 11, 2019

Unitholders of the ETFs will be able sell their units via the stock exchange up until the delisting date. Any remaining unitholders at the termination date will receive the net proceeds from the liquidation of the assets, less all liabilities and all expenses incurred in connection with the dissolution of the ETF, on a pro-rata basis, says Horizons ETFs.

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