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HKOR FUND IS CLOSING ON APRIL 29, 2016
AFTER CAREFUL CONSIDERATION, THE BOARD OF TRUSTEES OF THE HORIZONS ETF TRUST HAS DETERMINED TO CLOSE AND LIQUIDATE THE HORIZONS KOREA KOSPI 200 ETF (NYSE: HKOR)(THE "FUND"), WHICH IS MANAGED AND MARKETED BY HORIZONS ETFS MANAGEMENT (USA) LLC (“HORIZONS USA”). THE LAST DAY OF TRADING OF THE FUND’S SHARES ON THE NYSE ARCA WILL BE APRIL 29, 2016. SHAREHOLDERS MAY SELL FUND SHARES THROUGH A BROKER IN THE STANDARD MANNER THROUGH THIS DATE. SHAREHOLDERS REMAINING IN THE FUND ON MAY 2, 2016 WILL HAVE THEIR SHARES REDEEMED AUTOMATICALLY AND WILL RECEIVE CASH IN AN AMOUNT EQUAL TO THE NET ASSET VALUE OF THEIR SHARES AS OF THE CLOSE OF BUSINESS ON MAY 5, 2016.
Individual shares of the Horizons-branded exchange traded funds (the "Funds") may be purchased or sold in the secondary market throughout the regular trading day on the New York Stock Exchange through a brokerage account. However, shares are not individually redeemable directly from the Funds. Each Fund issues and redeems shares on a continuous basis, at NAV, only in blocks of shares ("Creation Units"), principally in-kind for securities included in the relevant Index. The Creation Unit for HSPX and HKOR is 50,000 shares.
Before investing you should carefully consider the Fund's investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained on this website. Please read the prospectus carefully before you invest. Distributor: Foreside Fund Services, LLC.
There are risks involved with investing, including possible loss of principal. The Horizons S&P 500® Covered Call ETF (“HSPX”) is a diversified fund, while the Horizons Korea KOSPI 200 ETF (“HKOR”) is non-diversified and may invest a greater portion of its assets in securities of a small number of issuers which may have an adverse effect on Fund performance. Concentration in a particular industry or sector will subject the Funds to loss due to adverse occurrences that may affect that industry or sector. The Funds risk not benefiting from potential increases in the value of underlying securities above the exercise prices of the written covered call options, and are subject to the risk of declines in the value of such securities. Each sector fund is subject to its own specific risk factors. See prospectus for specific risks regarding each Fund and sector.
An option is a contract sold by one party to another that gives the buyer the right, but not the obligation, to buy (call) or sell (put) a stock at an agreed upon price within a certain period or on a specific date. A covered call option involves holding a long position in a particular asset, in this case U.S. common equities, and writing a call option on that same asset with the goal of realizing additional income from the option premium.
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Please read the following carefully. Horizons ETFs Management (USA) LLC (“Horizons USA”) is an investment adviser with the U.S. Securities and Exchange Commission (“SEC”). Information (“Horizons Content”) contained on social media pages (“Horizons Pages”) is provided by Horizons USA and is strictly for informational purposes only. Nothing herein shall constitute and should not be considered as any investment advice, recommendation, invitation, offer or solicitation to buy, sell or subscribe to any securities or related financial instruments, or investment products or services, to any person in any jurisdiction, or a representation that any investment strategy is suitable or appropriate for an investor’s individual circumstances. Please seek independent professional advice if you have any question to the information contained on our social media pages. Click here to read more.