Horizons ETFs appoints Guardian Capital as Sub-Advisor of the Horizons Dividend ETF

TORONTO, Aug. 10, 2012 /CNW/ - AlphaPro Management Inc. ("AlphaPro") and its affiliate Horizons Exchange Traded Funds Inc. ("Horizons ETFs") are pleased to announce that, effective immediately, Guardian Capital LP ("Guardian Capital") will assume the sub-advisory role for the Horizons Dividend ETF (the "Horizons HAL") which trades on the Toronto Stock Exchange ("TSX") under the ticker symbols HAL and HAL.A.

The investment objective of Horizons HAL is to seek long-term total returns consisting of regular dividend income and modest long-term capital growth. Horizons HAL invests primarily in equity securities of major North American companies with above average dividend yields.

AlphaPro is the manager and trustee of Horizons HAL, and its affiliate Horizons Investment Management Inc., the investment manager of the Horizons HAL, is responsible for implementing the investment strategies and overseeing the services of Guardian Capital.

Guardian Capital's Srikanth Iyer, Managing Director, Head of Systematic Strategies, Sam Baldwin, Portfolio Manager and Fiona Wilson, Portfolio Manager, will take on lead portfolio management responsibilities. They are supported by Guardian Capital's Systematic Equities Investment Team, which is comprised of a number of experienced investment professionals who focus on both the quantitative and qualitative aspects of stock selection.

This same portfolio management team is currently responsible for managing the Horizons Global Dividend ETF (HAZ/HAZ.A:TSX), one of the best performing dividend-focused ETF mandates in Canada since its inception in July of 2010.

"Srikanth and the team at Guardian Capital have done an exceptional job running the Horizons Global Dividend ETF using their proprietary Growth Payout and Sustainability or GPS stock selection process. GPS systematically selects stocks that best allocate their generated cash in a shareholder friendly way. We like the fact that it uniquely combines sophisticated quantitative analysis with a traditional team-refined approach towards portfolio management," said Howard Atkinson, CEO of Horizons ETFs. "In Horizons HAL, they will now be applying this same outside-in thinking strategy to the Canadian universe of dividend stocks with the goal of outperforming the broader Canadian dividend stock market."

About Horizons Exchange Traded Funds Inc. (www.horizonsetfs.com)

Horizons ETFs is an innovative financial services company offering the Horizons ETFs family of ETFs. The Horizons ETFs family includes a broadly diversified range of investment tools with solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. With approximately $3.4 billion in assets under management and 80 ETFs listed on the TSX, the Horizons ETFs family makes up one of the largest families of ETFs in Canada. Horizons ETFs is a subsidiary of Horizons ETFs Management (Canada) Inc. and a member of the Mirae Asset Financial Group.

About Guardian Capital LP (www.guardiancapital.com)

Guardian Capital LP is a member of the Guardian Capital Group which is a diversified financial services company founded in 1962 and celebrating its 50th year in business. Guardian Capital provides institutional and high net worth investment management services to clients and as of June 30, 2012 had $16.9 billion in assets under management and an additional $8.9 billion under administration.

SOURCE: Horizons ETFs Management (Canada) Inc.

Howard Atkinson, CEO, Horizons Exchange Traded Funds Inc., [phone] [email protected].