NEW YORK, Dec. 16, 2013 (GLOBE NEWSWIRE) -- Horizons ETFs Management (USA) LLC ("Horizons USA") has filed a registration statement with the Securities and Exchange Commission to issue three new country-specific exchange traded funds ("ETFs") in the United States.
Launch dates for the proposed ETFs have not yet been determined. Each ETF, if approved, would seek to provide investors with exposure to three different geographic markets respectively: China, Korea and Canada. The proposed ETFs are named as follows:
- Horizons China High Dividend Yield ETF
- Horizons KOSPI 200 ETF
- Horizons S&P/TSX 60™ ETF
Horizons USA will act as investment manager to these ETFs and Mirae Asset Global Investments (Hong Kong) Ltd. will act as sub-manager to the Horizons China High Dividend Yield ETF and Horizons KOSPI 200 ETF. If approved, Horizons USA would list these ETFs on the NYSE Arca and serve as their adviser.
Affiliates of Horizons USA manage similar ETFs in other geographic markets. Horizons USA and its global affiliates are all subsidiaries of Mirae Asset Global Investments Co., Ltd, one of the world's largest investment managers in emerging market equities.
Horizons China High Dividend Yield ETF
The Horizons China High Dividend Yield ETF would seek investment results that, before fees and expenses, generally correspond to the performance of the Hang Seng High Dividend Yield Index.
The Hang Seng High Dividend Index is comprised of the 50 companies with the highest net dividend yields listed on the Hong Kong Stock Exchange ("HKEx"). These companies are incorporated or conduct a majority of their business in Hong Kong or mainland China.
Horizons KOSPI 200 ETF
The Horizons KOSPI 200 ETF would seek investment results that, before fees and expenses, generally correspond to the performance of the KOSPI 200 Index.
The KOSPI 200 is a free float-adjusted market capitalization-weighted index comprised of 200 blue chip companies listed on the Korea Exchange ("KRX"), selected based on factors such as liquidity and how well they represent their respective markets and industries.
Horizons S&P/TSX 60™ ETF
The Horizons S&P/TSX 60™ ETF will seek investment results that, before fees and expenses, generally correspond to the performance of the S&P/TSX 60™ Index.
The S&P/TSX 60™ is a float market capitalization-weighted index comprised of 60 of the largest and most liquid companies listed on the Toronto Stock Exchange ("TSX"), as selected by S&P Dow Jones Indices LLC using its industrial classifications and guidelines for evaluating issuer capitalization, liquidity and fundamentals.
"Horizons USA is part of a larger global ETF company with a presence in Australia, Canada, Korea, Hong Kong, Latin America and the U.S., overseeing more than $8 billion in ETF assets in aggregate," said Howard Atkinson, Managing Director of Horizons USA. "We want U.S. investors to benefit from our global expertise in managing similar ETFs in other markets."
"We are strongly committed to developing our ETF business in the United States," said Taeyong Lee, President of the Global Business Unit of Mirae Asset Global Investments Co, Ltd. "Mirae Asset has a long track record of successfully bringing global markets to local investors through the expertise of our international network of investment professionals."
An investor should consider the ETF's investment objectives, risks, charges and expenses carefully before investing. This and other important information about the investment company can be found in the ETF's prospectus. To obtain a prospectus, please visit the EDGAR Database on the SEC's Internet site at http://www.sec.gov. Please read the prospectus carefully before investing.
The information in the prospectus (or Statement of Additional Information) is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. The prospectus (or Statement of Additional Information) is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state, province or country where the offer or sale is not permitted.
It is not possible to invest directly in an index. S&P Indices does not sponsor, endorse, sell, or promote any S&P index-based investment product. This document does not constitute an offer of services in jurisdictions where S&P Indices or its affiliates do not have the necessary licenses. S&P Indices receives compensation in connection with licensing its indices to third parties.
About the Horizons ETFs Group (www.HorizonsETFs.com)
Horizons ETFs Management (USA) LLC is a member of the Horizons ETFs Group. The Horizons ETFs Group consists of innovative financial services companies offering regional families of ETFs in Canada, Korea, Hong Kong, Australia, the United States and Colombia. 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. With approximately US$8.3 billion in assets under management and 146 ETF listings worldwide (as at Nov. 30, 2013), the Horizons ETFs Group makes up one of the largest collective families of ETFs in the world. All of the Horizons ETFs Group companies and affiliates are subsidiaries of Mirae Asset Global Investments Co., Ltd.
About Mirae Asset Global Investments (www.MiraeAsset.com)
Mirae Asset Global Investments is one of the world's largest investment managers in emerging market equities (Investments & Pensions Europe, January 2013). With approximately 550 employees, including 126 dedicated investment professionals, Mirae Asset offers a breadth of emerging markets expertise. Mirae Asset's offices are located in Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Korea, Taiwan, the U.K., the United States and Vietnam. Headquartered in Seoul, South Korea, the firm manages $59 billion in assets globally through a diversified platform to offer market-leading franchises in traditional equity and fixed income products, ETFs and alternative strategies, such as real estate, private equity and hedge funds.