TORONTO, July 3, 2018 /CNW/ – Horizons ETFs Management (Canada) Inc. (“Horizons ETFs“) is pleased to announce that its robotics and artificial intelligence (“A.I.“) ETF – the Horizons Robotics and Automation Index ETF (the “ETF“) – will have a new investment objective and ticker symbol, as well as a lower management fee.
Starting tomorrow, the ETF’s investment objective will be to seek to replicate, to the extent possible, the performance of the Indxx Global Robotics & Artificial Intelligence Thematic Index (the “Index“), net of expenses. The ETF continues to trade on the Toronto Stock Exchange (“TSX“), but starting tomorrow, under new ticker symbols – RBOT (in Canadian dollars) and RBOT.U (in U.S. dollars). In addition, the ETF’s management fee will be 0.68% (plus applicable taxes), reduced from 0.75%.
Previously, the ETF’s investment objective was to seek to replicate, to the extent possible, the performance of the ROBO Global® Robotics and Automation Index, net of expenses. The ETF previously traded on the TSX under the ticker symbols ROBO and ROBO.U.
The change in investment objective was approved by unitholders last month, and communicated via a press release dated June 14, 2018.
RBOT is Canada’s first robotics and A.I. ETF. Its underlying Index is designed to provide exposure to the performance of equity securities of companies that are involved in the development of robotics and/or artificial intelligence. The ETF seeks to hedge the U.S. dollar value of its portfolio to the Canadian dollar at all times.
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 $10 billion of assets under management and 80 ETFs listed on major Canadian stock exchanges. Horizons ETFs Management (Canada) Inc. is a member of the Mirae Asset Global Investments Group.
Horizons ETFs is a member of Mirae Asset Global Investments. Commissions, management fees and expenses all may be associated with an investment in the Horizons Robotics and Automation Index ETF (the “ETF”). The ETF is not guaranteed, its values change frequently and past performance may not be repeated. The prospectus contains important detailed information about the ETF. Please read the prospectus before investing.
This article provided by NewsEdge.