HSAV approaches
HSAV seeks to generate modest capital growth by investing primarily in high-interest deposit accounts with Canadian banks. While any decision to pay dividends or other distributions is within the discretion of the Manager, HSAV is not currently expected to make any regular distributions.
Launched on
"High-interest savings ETFs, which include HSAV, saw strong inflows in 2020 as investors were attracted to their daily liquidity and yield," said
As noted in HSAV's prospectus, if the ETF experiences a significant increase in total net assets, the Manager may, in its sole discretion and if determined to be in the best interests of shareholders, decide to suspend subscriptions for new ETF shares if considered necessary or desirable in order to manage potential tax implications and/or to permit HSAV to achieve, or continue to achieve, its investment objectives.
At this time, Horizons ETFs has determined that it will be suspending subscriptions for new shares of HSAV when its AUM exceeds
A period of suspended subscriptions, if any, will not affect the ability of existing shareholders of HSAV to sell their shares in the secondary market at a price reflective of its net asset value per share, assuming normal course market conditions. However, investors and potential investors should note that during a period of suspended subscriptions the shares of HSAV are expected to trade at a premium or even a substantial premium to its net asset value per share. During any suspension, investors are strongly discouraged from purchasing shares of HSAV.
Any suspension of subscriptions, or subsequent resumption of subscriptions, will be announced by press release and posted on the Manager's website.
Although HSAV primarily invests in bank deposit accounts, HSAV is not covered by the
For more information on HSAV, please see the prospectus.
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† HSAV's Management fee of 0.18% has been rebated by 0.10% to an effective management fee of 0.08%, until further notice (plus applicable sales tax).
HSAV uses cash accounts and does not track a traditional benchmark but rather a compounding rate of interest paid on the cash deposits that can change over time. Any distributions which are received by HSAV are reflected automatically in the net asset value (NAV) of HSAV. As a result, the shareholders of HSAV are not expected to receive any taxable distributions.
Commissions, management fees and applicable sales taxes all may be associated with an investment in the ETF. The ETF is not guaranteed, its value changes frequently and past performance may not be repeated. The prospectus contains important detailed information about the ETF. Please read the prospectus before investing.
Certain statements may constitute a forward-looking statement, including those identified by the expression "expect", "project" and similar expressions (including grammatical variations thereof). The forward-looking statements are not historical facts but reflect the author's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. These and other factors should be considered carefully and readers should not place undue reliance on such forward looking statements. These forward-looking statements are made as of the date hereof and the authors do not undertake to update any forward-looking statement that is contained herein, whether as a result of new information, future events or otherwise, unless required by applicable law.
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