Toronto – March 13, 2018 – Horizons ETFs Management (Canada) Inc. (the “Manager”) has announced today that further to the press release dated February 27, 2018, it will resume the acceptance of new subscriptions of units of the BetaPro S&P 500 VIX Short-Term Futures™ Inverse ETF (“HVI”) tomorrow, March 14, 2018. HVI trades on the Toronto Stock Exchange under the ticker symbol “HVI”.
Since the close of trading on February 27, 2018, the performance of HVI has corresponded to approximately one-half times the inverse (opposite) of the daily performance of the S&P 500 VIX Short-Term Futures Index (the “Index”), and the performance of HVI is expected to continue to corresponded to approximately one-half times the inverse (opposite) of the daily performance of the Index.
In accordance with the declaration of trust of HVI, and in accordance with applicable securities law, the Manager intends to call a special meeting of unitholders of HVI as soon as practicable, in order to amend HVI’s investment objective from seeking to correspond to one times the inverse (opposite) of the daily performance of the Index to seeking to correspond to one-half times the inverse (opposite) of the daily performance of the Index. The Manager will provide unitholders with additional information pertaining to the details of the special meeting, including the matters to be proposed at such meeting, in due course.
About Horizons ETFs Management (Canada) Inc.
Horizons ETFs Management (Canada) Inc. is an innovative financial services company and offers one of the largest suites of exchange traded funds in Canada. The Horizons ETFs product suite includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs currently has approximately $10 billion of assets under management and 82 ETFs listed on major Canadian stock exchanges. Horizons ETFs Management (Canada) Inc. is a member of the Mirae Asset Global Investments Group.
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Mark Noble, Senior Vice-President and Head of Sales Strategy
Horizons ETFs Management (Canada) Inc.