Howard Atkinson, chief executive of Horizons ETFs

HIMI assumes management responsibilities for Horizons Active Balanced ETF

The day-to-day portfolio management responsibilities for the Horizons Active Balanced ETF (HAA), currently provided by Hillsdale Investment Management, will be assumed by Horizons Investment Management Inc (HIMI), the investment manager to the ETF and an affiliate of Horizons ETFs and AlphaPro Management, with immediate effect.

"We have enjoyed working with Hillsdale and thank them for the support they have provided HAA since its launch in 2010," says Howard Atkinson (pictured), chief executive of Horizons ETFs.

In addition, the ETF will change its name on or about 30 January 2013 to the Horizons Active Diversified Income ETF. The ETF's Class E units and Advisory Class units will continue to trade on the Toronto Stock Exchange under the ticker symbols HAA and HAA.A, respectively.

The ETF's investment objective remains unchanged and it will continue to seek to provide a consistent rate of return balanced between current income and long-term capital growth. The ETF invests primarily in a balanced portfolio of publicly traded equity, income trust and debt securities located primarily in Canada.  In order to obtain direct or indirect exposure to these securities, the ETF may invest in exchange traded funds and exchange traded notes.  The ETF, to the best of its ability, seeks to hedge its non-Canadian dollar currency exposure to the Canadian dollar at all times.

"HIMI has built a very strong investment management team which we feel is well equipped to manage a balanced portfolio," says Atkinson. "HAA is one of the lowest cost balanced mandates in Canada and together with HIMI's experience, we believe this can offer a winning combination for Canadian investors."
 

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