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No more direct subscriptions for Horizons Managed Multi-Asset Momentum units will be made available

By Leah Golob |

Toronto-based Horizons ETFs Management (Canada) Inc. and its affiliate, AlphaPro Management Inc., have announced the termination of Horizons Managed Multi-Asset Momentum ETF as of Aug. 18.

As such, no more direct subscriptions for units of the ETF will be made available, the firm says in a statement. Redemption requests can be made with the manager until Aug. 14 and the ETF will be removed from the Toronto Stock Exchange on or about Aug. 15. Units still held by investors face a mandatory redemption as of the termination date.

As of Aug. 18, the remaining unitholders of the ETF will receive the net proceeds from the liquidation of the assets, minus liabilities costs related to the dissolution of the ETF, on a pro-rata basis.