World News: 21:10 GMT Friday 10th August 2018. [Horizons ETFs Management (US) LLC via Globe Newswire via SPi World News]
NEW YORK, Aug. 10, 2018 (GLOBE NEWSWIRE) -- Horizons ETFs Management (US) LLC announced today that they will be terminating the Horizons Cadence Hedged US Dividend Yield ETF (the “”) effective at the close of business on August 28, 2018 (the “). Due to a change in business strategy, it has been determined to close the ETF. Details of the ETF are as follows.
August 22, 2018 is expected to be the last date that Authorized Participants may create and redeem units in USDY and trading will be suspended on the Cboe BZX Exchange on August 24, 2018. At the request of the manager, the ETF is expected to be de-listed from the Cboe BZX Exchange at the close of business on or about August 24, 2018, with all units still held by investors being subject to a mandatory redemption as of the Termination Date.
Any remaining unitholders of the ETF as of the Termination Date will receive the net proceeds from the liquidations of the assets, less all liabilities and all expenses incurrent in connection with the dissolution of the ETF, on a pro-rata basis.
The Horizons ETFs Group consists of innovative financial services companies offering regional families of ETFs in Canada, Colombia, Korea, Hong Kong, Australia, and the United States. Currently, all of the ETFs offered by these companies use the Horizons ETFs brand with the exception of the ‘BetaShares’ family of ETFs in Australia and the ‘Mirae Asset Tiger ETFs’ family in Korea. All of the Horizons ETFs Group companies and affiliates are subsidiaries of Mirae Asset Global Investments Co., Ltd.
As of March 31, 2018, Horizons ETF Group total global AUM stood at US $21 billion.
Media Contact: Max Leitenberger Buttonwood Communications Group914-434-5725
Globe Newswire: 21:10 GMT Friday 10th August 2018
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