Horizons ETFs

Horizons ETFs Management (Canada) Inc. is a financial services company that offers exchange-traded funds. In April 2017, Horizons began offering the first cannabis industry focused exchange-traded fund (ETF), Horizons Marijuana Life Sciences Index ETF. The company is also the only provider of leveraged ETFs and the fourth-largest ETF provider in Canada with more than CAD$10.3 billion in assets as of August 2018.[2][3]

Horizons ETFs
IndustryInvestment management
Founded2005 (2005)
Headquarters
Toronto, Ontario
,
Canada
Key people
Steve Hawkins
(President and CEO)[1]
ProductsExchange-traded funds
Websitehorizonsetfs.com

History

Founded in 2005, Horizons ETFs was formerly known as BetaPro Management Inc., a subsidiary of Jovian Capital Corp,[4] which traded in direct-commodities linked ETFs, leveraged ETFs, and inverse ETFs.[5][6] In January 2006, the company under the brand Horizons BetaPro began offering two funds which tracked the S&P and Toronto Stock Exchange (TSX): S&P/TSX 60 Bull Plus Fund and the S&P/TSX 60 Bear Plus Fund.[7] In 2011, Jovian Capital sold BetaPro Management and its subsidiary AlphaPro Management to Mirae Asset Global Investments, based in Seoul, South Korea.[5][6][8]

In 2017, Horizons ETFs launched the Horizons Marijuana Life Sciences Index ETF (HMMJ), the first marijuana-related exchange-traded fund,[9] focused on a collection of publicly-traded companies in North America.[10][11] HMMJ was listed on the Toronto Stock Exchange on April 5, 2017.[12][13] By September 2018, HMMJ’s assets reached CAD$1 billion.[14][15] Despite significant losses at the end of September and the last two weeks of October,[16][17][18] HMMJ returned a 60% gain in 2018.[19] Horizons ETFs was also a sponsor of the Toronto Raptors NBA team during its 2017–18 season.[20] In August 2017, Scotiabank purchased the naming rights to the home arena of the Toronto Maple Leafs and Raptors and exercised a veto in its deal on competing institutions, ending Horizons’ sponsorship of the Raptors before the 2018–19 NBA season.[21]

On February 14, 2018, Horizons began offering Horizons Junior Marijuana Growers Index ETF, traded as HMJR on the NEO Exchange.[22][23] HMJR is exposed to smaller marijuana companies involved in cultivation, production and distribution.[24] On June 21, 2018, it also began trading Horizons Blockchain Technology & Hardware Index ETF.[25] Horizons was also represented among the companies in the cannabis industry that gathered to ring the opening bell of the Toronto Stock Exchange on October 17, 2018, the day Canada legalized recreational use of marijuana.[26] In November 2018, the firm began offering Horizons Active A.I. Global Equity ETF which makes investment decisions governed by artificial intelligence.[27]

In April 2019, Horizons ETFs launched the Horizons US Marijuana Index ETF, an index ETF focused on the U.S. cannabis marketplace.[28][29] This was followed the next month with BetaPro Marijuana Companies 2x Daily Bull ETF and BetaPro Marijuana Companies Inverse ETF, respectively the first leveraged and the first inverse cannabis ETFs.[30][31]

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References
  1. "Pot ETFs Make Millions From Short Sellers for Year's Best Gains". 2019-06-04. Retrieved 2019-06-06.
  2. O'hara, Clare (2018-06-17). "New leveraged marijuana ETFs on the way". The Globe and Mail. Retrieved 2019-06-25.
  3. Owram, Kristine (2018-08-27). "Canada is swimming in ETFs — and is near peak for new players, Horizons sales chief says | Financial Post". Financial Post. Retrieved 2019-06-25.
  4. Critchley, Barry (2006-10-04). "BGI's Atkinson moving". National Post. p. FP2.
  5. "UPDATE 2-Jovian to sell ETF business to Korea's Mirae for C$90 mln". Reuters. 2011-07-15. Retrieved 2019-06-25.
  6. "South Korean mutual fund company Mirae Asset to buy the Horizon ETF business". Global News. 2011-07-15. Retrieved 2019-06-25.
  7. Anderson, Fiona (2007-04-20). "A home-grown market invention comes of age". The Vancouver Sun. p. H5.
  8. Dobby, Christine (2011-07-15). "Jovian sells BetaPro ETF stake". Financial Post. Retrieved 2019-06-25.
  9. O'hara, Clare (2018-01-12). "Evolve Funds plans launch of Canada's first actively managed pot ETF". The Globe and Mail. Retrieved 2019-06-25.
  10. Buckstein, Jeff (2017-11-14). "Themed ETFs – solid strategy or gimmick?". The Globe and Mail. Retrieved 2019-06-25.
  11. "Biggest marijuana ETF on TSX adds 9 new cannabis companies, including Tilray". CBC News. 2018-09-26. Retrieved 25 June 2019.
  12. Vlastelica, Ryan. "The market's first marijuana-themed ETF to start trading on Wednesday". MarketWatch. Retrieved 2019-06-25.
  13. McKenna, Alain (2017-05-04). "10 choses à savoir mercredi". www.lesaffaires.com (in French). Retrieved 2019-06-25.
  14. Rosenbaum, Eric (2018-09-07). "Marijuana ETF in Canada passes $1 billion in assets as weed stocks light it up". CNBC. Retrieved 2019-06-25.
  15. Owram, Kristine (2019-06-25). "Canadian Pot ETF Retakes Billion-Dollar Mark on Stock Surge". Bloomberg. Retrieved 2019-06-25.
  16. Hajric, Vildana; Wilson, Carolina (2019-06-25). "World's Largest Pot ETF Doubles Up Tilray, Expands Portfolio". Bloomberg. Retrieved 2019-06-25.
  17. Kilgore, Tomi (2018-10-29). "Pot stocks take another dive in wake of worst week for the sector in nearly 9 months". MarketWatch. Retrieved 2019-06-25.
  18. Linnane, Ciara (2018-10-28). "Cannabis stocks on track for sharp losses on the week after steep selloff". MarketWatch. Retrieved 2019-06-25.
  19. Owram, Kristine (2019-06-25). "Cannabis Fund Innovator Is Planning ETF of U.S. Companies Only". Bloomberg. Retrieved 2019-06-25.
  20. Carp, Sam (2017-07-27). "Toronto Raptors seal Horizons ETFs deal". SportsPro Media. Retrieved 2019-06-25.
  21. "Moneyball: How corporate Canada is cashing in on the Raptors' stunning success". Retrieved 2019-06-25.
  22. O'hara, Clare (2018-02-06). "Canadian pot ETF targeting junior firms wins approval". The Globe and Mail. Retrieved 2019-06-25.
  23. O'hara, Clare (2018-02-09). "Fourth Canadian marijuana ETF to begin trading next week". The Globe and Mail. Retrieved 2019-06-25.
  24. O'hara, Clare (2018-02-15). "Know what's in your cannabis ETF: How the four Canadian funds stack up". The Globe and Mail. Retrieved 2019-06-25.
  25. Owram, Kristine (2018-06-20). "Horizons Is Launching a Blockchain ETF". Bloomberg. Retrieved 2019-06-25.
  26. Cherney, Max A. (2018-10-17). "Canadian market celebrates pot stocks on first day of legal recreational cannabis sales". MarketWatch. Retrieved 2019-06-25.
  27. Owram, Kristine (2019-06-25). "Sell in May and Go Away? This Robot-Run ETF Disagrees". Bloomberg. Retrieved 2019-06-25.
  28. "Canadian ETF providers plan new funds targeting U.S. cannabis sector". Retrieved 2019-06-25.
  29. Ferreira, Victor (2019-04-18). "These are the cannabis companies the manager of Evolve's U.S. Marijuana ETF is betting on | Financial Post". Financial Post. Retrieved 2019-06-25.
  30. Fong, April (2019-05-22). "Horizons unveils higher-risk leveraged, inverse cannabis ETFs - Article". BNN Bloomberg. Retrieved 2019-06-25.
  31. O'hara, Clare (2019-05-21). "Horizons launches first ever ETFs to bet against pot stocks, instantly double down on sector". The Globe and Mail. Retrieved 2019-06-25.
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