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 “ETF”) effective at the close of business on August 28, 2018 (the “Termination Date”). Due to a change in business strategy, it has been determined to close the ETF. Details of the ETF are as follows.
|Horizons Cadence Hedged US
Dividend Yield ETF
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 ETF Group:
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.
Horizons ETFs Management (US) LLC is the investment advisor of the Fund. The Fund is distributed by Foreside Fund Services, LLC, which is not affiliated with Horizons ETFs Management (US), LLC or any of its affiliates.
Buttonwood Communications Group