Horizons to close two ETFs

Toronto-based Horizons ETFs Management (Canada) Inc. will be terminating the Horizons Global Currency Opportunities ETF and the Horizons Active Intl Developed Markets Equity ETF on Feb. 14, 2019, the company announced Friday.

Effective immediately, no further direct subscriptions for units of the two ETFs will be accepted, Horizons says in a news release.

Horizons expects Feb. 8 to be the last date on which a redemption request may be placed, and the ETFs are expected to be de-listed from the Toronto Stock Exchange (TSX) at the close of business on or about Feb. 11.

All units still held by investors will be subject to a mandatory redemption as of Feb. 14.

Unitholders will be able sell their units in the normal course through the TSX up until the de-listing date.

Any remaining unitholders of the ETFs as of Feb. 14 will receive net proceeds from the liquidation of the assets, less all liabilities and expenses incurred in connection with the dissolution of the ETFs, on a pro-rata basis.

Staff

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