Horizons ETF Management and its affiliate AlphaPro Management have announced that they will be terminating some exchange-traded funds effective on or about Sept. 9. The ETFs being terminated are:
|Horizons Cdn Equity Managed Risk ETF
||Class E (ticker HUT); Advisor Class (ticker HUT.A)
|Horizons US Equity Managed Risk ETF
||Class E (ticker HUS.U); Advisor Class (ticker HUS.V)
As of now, no further direct subscriptions for units of the terminated ETFs are being accepted, according to a Horizons release. The last date on which a redemption request can be placed with the manager is expected to be Sept. 5, and the terminated ETFs are expected to be de-listed from the Toronto Stock Exchange on or about Sept. 6. All units still held by investors will be subject to a mandatory redemption as of the termination date, according to Horizons.
Any remaining unitholders as of that date will receive the net proceeds from the liquidation of the assets, less all liabilities and expenses incurred in connection with the dissolution of the ETFs, according to Horizons.
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