Horizons AlphaPro Fiera Tactical Bond Fund will convert into an open-end exchange traded fund and be renamed the Horizons AlphaPro Tactical Bond ETF after the close of business on December 31, AlphaPro Management Inc. said Wednesday.

Upon completion of the conversion, the class E units of the ETF will begin trading on the Toronto Stock Exchange on January 4, under the symbol HAF.

The fund’s class A units and class F units were designed to convert into class E units of an ETF at ratios based on the relative net asset values of each. The class A units will convert into class E units on a one-for-one (1:1) basis. The class F units will convert into class E units at a ratio to be determined by the respective net asset values of the class A and F units as at the close of business on December 31.

The ETF’s investment objectives are to provide the holders of class E units with a stable stream of tax efficient monthly distributions, and the opportunity for capital appreciation through exposure to a tactical asset allocation strategy that focuses on the returns of fixed income securities.

The ETF will seek to achieve its investment objectives through exposure to the actively managed investment portfolio of the Tactical Global Bond ETF Fund consisting primarily of ETFs, including inverse ETFs, that provide exposure to global fixed income markets, including government treasury securities, corporate bonds and high yield debt securities.

Toronto-based AlphaPro is the manager and trustee of the ETF, and its affiliate JovInvestment Management Inc., the investment manager of the ETF, is responsible for implementing the ETF’s investment strategies and engaging the services of Fiera Sceptre Inc. to act as sub-advisor to the portfolio.

IE