Horizons ETFs announces multi-asset momentum fund closure

Jun 20th, 2017 | By | Category: ETF and Index News

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Horizons ETFs Management has announced the closure of the Horizons Managed Multi-Asset Momentum ETF (HMA) effective at the close of business on 18 August 2017. Effective immediately, no further direct subscriptions for units of the ETF will be accepted.

Horizons ETFs announce fund closure

The Horizons Managed Multi-Asset Momentum ETF was launched in August 2015 and will be terminated on 18 August 2017.

The last date on which a redemption request may be placed is 14 August 2017 and the ETF is expected to be de-listed from the Toronto Stock Exchange on or around 15 August 2017, with all units still held by investors being subject to a mandatory redemption as of 18 August 2017. The fund was launched in August 2015.

The ETF gives investors exposure to a globally diversified portfolio of asset classes based on their underlying momentum characteristics. HMA will typically invest in the top seven of 16 global asset classes, based on momentum and then adjusted for risk, primarily through investments in exchange-traded funds.

The fund returned 13% in the year to 31 May 2017. The management fee is 0.85% and assets under management are CAD $5m as of 19 June 2017.

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