Horizons ETFs Management (Canada) Inc. has launched the Horizons Tactical Absolute Return Bond ETF. The two different series of shares of the ETF began trading Dec. 8, on the Toronto Stock Exchange under the ticker symbols HARB (Total Return Series Shares) and HARB.J (Dividend Series Shares).
The company says HARB aims to provide positive absolute returns with low volatility over a market cycle regardless of market conditions or general market direction. The ETF will tactically take long and short positions in North American and global debt instruments and derivatives across the credit spectrum. The Dividend Series Shares will also seek to provide consistent income.
The ETF is sub-advised by DMAT Capital Management, a boutique portfolio management firm founded by Barry Allan, a Canadian fixed income manager who is the President, CEO and CIO of DMAT.
"HARB is the first fixed income ETF offered by Horizons that is what we would refer to as a 'liquid alternative'. This is an ETF that will utilize a variety of long and short fixed income investment strategies to seek absolute returns regardless of the conditions of the capital markets," stated Steve Hawkins, President and CEO of Horizons ETFs. "With its 'go anywhere' mandate, backed by the experienced management of Barry Allan and his DMAT Capital team, HARB will seek to identify and target potential opportunities across the fixed income universe as markets move."
