Horizons ETFs Management (Canada) will reduce the management fee on the Horizons Cdn Select Universe Bond ETF (HBB), effective July 1, 2017. The fee will decrease from 0.15% to 0.09%.
But, while HBB has reduced its management fee to 0.09%, it will continue to charge an additional swap fee of about 0.15%, in order to utilize its total return index structure. So the total cost of owning HBB is approximately 0.24% per year, plus applicable sales tax.
More ETF news
First Asset Investment Management, manager of the First Asset family of ETFs, is eliminating the pre-authorized contribution plan and systematic withdrawal plans in respect of its entire family of ETFs, effective July 1, 2017. For a list of affected ETFs, click here.
Distribution reinvestment plans, or DRIPS, are not affected by this announcement. And, unitholders do not have to take any action in connection with the termination of the PACC and SWPs.