Horizons launches new U.S. Equity Income Fund

By Staff | June 17, 2011 | Last updated on June 17, 2011
1 min read

Horizons Exchange Traded Funds has filed a final prospectus for the Horizons Enhanced U.S. Equity Income Fund, a closed end fund which will be managed by AlphaPro Management Inc.

The fund aims to provide investors with capital appreciation and monthly distributions, based on the performance of an equal weighted portfolio of the 50 largest and most liquid U.S. stocks. Currency exposure will generally be hedged.

The fund will generally write short-term, “out-of-the-money” covered call options on 100% of the portfolio securities, in order to mitigate downside risks, generate cashflow and allow for potential capital appreciation.

The fund is expected to automatically convert into an exchange traded fund no later than November 30, 2012.

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The staff of Advisor.ca have been covering news for financial advisors since 1998.