Horizons AlphaPro Fiera Tactical Bond Fund Announces Monthly Distribution

TSX Symbol: HAF.UN

TORONTO, Oct. 19 /CNW/ - Horizons AlphaPro Fiera Tactical Bond Fund (the "Fund") announces a distribution for the month ending October 31, 2010 in the amount of $0.0375 for each of the Class A units and Class F units of the Fund. The distribution is payable on November 10, 2010 to unitholders of record on October 29, 2010. The Class A units of the Fund are listed for trading on the Toronto Stock Exchange under the symbol HAF.UN. The Class F units of the Fund are not publicly listed.

The Fund's investment objectives are to provide its unitholders with: (i) stable stream of tax-efficient monthly distributions; and (ii) the opportunity for capital appreciation through exposure to a tactical asset allocation strategy.

Pursuant to the terms of the amended and restated declaration of trust of the Fund, the Class A units and Class F units of the Fund will automatically convert to Class E units of the Horizons AlphaPro Tactical Bond ETF (the "ETF") if after June 30, 2010, the daily weighted average trading price (or, in the event there had been no trading on a particular day, the average of closing bid and ask prices) of the Class A units of the Fund is greater than a discount of 2% of the net asset value per Class A unit of the Fund for that day or exceeds their issue price of $10.00 in each case for a period of 10 consecutive trading days. The conversion test is expected to be met prior to, but in any event by no later than, December 31, 2010 at which time the Class A units and Class F units of the Fund will convert into Class E units of the ETF at ratios based on the respective net asset value of each class (the "Conversion"). If the conversion test is not met prior to December 31, 2010, the Conversion will occur on December 31, 2010.

For further information:

Martin Fabregas, Investor Relations, AlphaPro Management Inc. [phone]