Horizons Active Preferred Share ETF tops C$1 billion in assets

By Tali Rackner

Norfolk, Va., Feb. 2 – Horizons ETFs Management (Canada) Inc. and affiliate AlphaPro Management Inc. announced that the assets under management (AUM) for the Horizons Active Preferred Share exchange-traded fund now exceed C$1 billion, according to a press release.

This makes HPR Canada's first truly active ETF to surpass the C$1 billion AUM threshold, the release said.

The fund is an actively managed ETF that seeks to provide dividend income while maintaining capital by mainly investing in preferred shares of Canadian companies.

"HPR has been an important ETF for us, consistently supporting our belief that true, discretionary active management used within an ETF structure works, particularly in an asset class with less than optimal market efficiency, like preferred shares," president and CEO Steven Hawkins said in the release.

The fund is sub-advised by Fiera Capital Corp.

Horizons is a Toronto-based financial services company.

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