AlphaPro Management has announced the Horizons AlphaPro Fiera Tactical Bond Fund will convert into an open-end exchange traded fund and be renamed the Horizons AlphaPro Tactical Bond ETF, effective the close of business on December 31, 2010.
The Class A units of the fund will convert into Class E units on a one-for-one (1:1) basis, while Class F units will convert at a ratio to be determined by the respective net asset values of the Class A units of the fund and Class F units of the fund as at the close of business on December 31, 2010.
Units of the new ETF will begin trading on the TSX on January 4, 2011, under the symbol HAF.
The ETF’s investment objectives are to provide investors with a stable stream of tax efficient monthly distributions and the opportunity for capital appreciation through exposure to a tactical asset allocation strategy that focuses on the returns of fixed income securities.