Horizons launches China ETF

Toronto-based Horizons ETFs Management (Canada) Inc. has introduced an exchange-traded fund (ETF) with exposure to Hong Kong-listed securities. Horizons China High Dividend Yield Index ETF provides investors with access to the Hang Seng high divided yield index, which follows the performance of 50 of the highest dividend-yielding equities securities, including real estate investment trusts, listed on that exchange. Mirae Asset Global Investments (Hong Kong) Ltd., a subsidiary of Horizon’s parent company, Mirae Asset Global Investments Co. Ltd. of South Korea, will manage the ETF. Management fees are 0.85% for common units of the new ETF. Horizons has more than $5.3 billion in assets under management (AUM) held in 70 ETFs listed on the Toronto Stock Exchange as of Dec. 31, 2015.

(fcollie@investmentexecutive.com).