Product Watch: Horizons shutters two ETFs

Toronto-based Horizons ETFs Management (Canada) Inc. is terminating two exchange-traded funds (ETFs). As of June 12, Horizons BetaPro S&P/TSX Global Base Metals Bulls Plus ETF and Horizons BetaPro S&P/TSX Global Base Metals Bear Plus ETF will be closed for business. Neither of these ETFs are accepting direct subscriptions for units. The last date to request a redemption is June 8. The ETFs will be delisted from the Toronto Stock Exchange at the close of business on June 9. Any units still held by investors as of the closing date will be subject to a mandatory redemption, at which time investors will receive the net proceeds from the liquidation of the assets minus all liabilities and expenses incurred as a result of the closure.

(fcollie@investmentexecutive.com).