Horizons launches new ETF; terminates 5

Horizons Exchange Traded Funds Inc., along with its affiliate, AlphaPro Management Inc., both based in Toronto, have added a new exchange-traded fund (ETF) to their lineup: Horizons Morningstar Hedge Fund Index ETF, which will allow investors to get hedge fund-type exposure for their portfolios through an index strategy. This ETF seeks investment results that replicate the performance of the Morningstar broad hedge fund IndexSM, hedged to the Canadian dollar. Management fees for Horizons Morningstar Hedge Fund Index ETF are 0.95%. In addition, the company has announced it will be terminating five ETFs, effective at the close of business on June 29: Horizons BetaPro COMEX Long Gold/Short Silver Spread ETF, Horizons BetaPro COMEX Long Silver/Short Gold Spread ETF, Horizons BetaPro COMEX Gold Inverse ETF, Horizons BetaPro COMEX Silver Inverse ETF and Horizons BetaPro U.S. 30-year Bond Bull Plus ETF.

(cohara@investmentexecutive.com)