Generic filters
Search in excerpt

An ETF for every investor.

HBNK

Horizons Equal Weight Banks Index ETF

Price
$21.09
$0.07
0.33%
NAV
$21.0158
$-0.2306
-1.09%

Benchmark

Sector Equity

Fact Sheet
Learn more about HBNK

SPAY

Horizons Short-Term U.S. Treasury Premium Yield ETF

Price
$27.32
$0.01
0.04%
NAV
$27.3002
$0.0401
0.15%

Active

Fixed Income

Fact Sheet
Learn more about SPAY

CASH

Horizons High Interest Savings ETF

Price
$50.11
$0.01
0.02%
NAV
$50.1003
$0.0066
0.01%

Benchmark

Fixed Income

Fact Sheet
Learn more about CASH
Explore All Products
Generic filters
Search in excerpt

TORONTO – January 9, 2023 – Horizons ETFs Management (Canada) Inc. (“Horizons ETFs”or the “Manager”) is announcing the suspension of new subscriptions to the Horizons USD Cash Maximizer ETF (“HSUV.U” or the “ETF”), effective at the close of business today.

Launched on July 2, 2020, HSUV.U seeks to generate modest capital growth by investing primarily in high-interest U.S. dollar deposit accounts with Canadian banks. While any decision to pay dividends or other distributions is within the discretion of the Manager, HSUV.U has not made any distributions since its inception, nor is it currently expected to make any regular cash distributions. The value of any interest earned is reflected in the net asset value (“NAV”) of the ETF.

The current assets under management (“AUM”) of HSUV.U are approximately US$775 million, which is equivalent to more than $1 billion Canadian dollars.  At this AUM threshold, it is the Manager’s view that this suspension will help manage potential tax implications and ensure that HSUV.U can continue to reinvest its distributions, consistent with HSUV.U’s current investment objectives.

As noted in HSUV.U’s prospectus, if the ETF experiences a significant increase in total NAV, the Manager may, in its sole discretion and if determined to be in the best interests of shareholders, decide to suspend subscriptions for new ETF shares if considered necessary or desirable in order to manage potential tax implications and/or to permit HSUV.U to achieve, or continue to achieve, its investment objectives. It is the Manager’s view that the suspension will help manage potential tax implications and ensure that HSUV.U can continue to reinvest distributions.

This suspension of subscriptions will not affect the ability of existing shareholders of HSUV.U to sell their shares in the secondary market at a price reflective of at least its NAV per share, assuming normal course market conditions. However, investors and potential investors should note that during a period of suspended subscriptions, the Manager expects shares of HSUV.U to trade at a premium to its NAV per share. While new subscriptions are suspended, Horizons ETFs is strongly discouraging investors from purchasing shares of HSUV.U.

Any subsequent resumption of subscriptions for HSUV.U will be announced by press release and posted on the Manager’s website.

For more information about HSUV.U, please visit: www.HorizonsETFs.com/HSUV.U

About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)

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 family 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 has more than $23 billion of assets under management and 107 ETFs listed on major Canadian stock exchanges.

For all inquiries:

Please contact Horizons ETFs at 1-866-641-5739 (toll-free) or (416) 933-5745 info@horizonsetfs.com