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Horizons terminates ETF

par The IJ Staff | June 20 2017 09:45AM

Horizons ETFs and its affiliate AlphaPro Management Inc. have announced that they will be terminating the Horizons Managed Multi-Asset Momentum ETF effective Aug. 18.

No further direct subscriptions for units of the ETF will be accepted effective immediately, said Horizons in a statement issued June 16. Aug. 14 is expected to be the last date on which a redemption request may be placed with the manager.

Mandatory redemption

The ETF is expected to be de-listed from the Toronto Stock Exchange, at the request of the manager, at the close of business on Aug. 15, with all units still held by investors being subject to a mandatory redemption at the termination date.

“Any remaining unitholders of the ETF as 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.

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