Toronto-based Horizons ETFs Management (Canada) Inc. and AlphaPro Management Inc. will consolidate units of their Horizons Enhanced Income Gold Producers ETF, the company announced on Monday.

The consolidation will take place at the close of trading on May 14, 2013 and will begin trading on a consolidated basis the following day.

For the Class E (HEP) and advisor class (HEP.A) funds the consolidation ratios will be 1:2.

Horizons has approximately $4.3 billion in assets under management and 74 ETFs listed on the Toronto Stock Exchange. Horizons and AlphaPro, its affiliate, are part of the Mirae Asset Financial Group.