Horizons ETFs Management (Canada) Inc. and Dynamic Funds, both Toronto-based firms, announced changes to their fund lineups on Friday.
Horizons ETFs will change the names of two of its short-term fixed income ETFs. The Horizons Active Floating Rate Bond ETF will be changed to the Horizons Active Ultra-Short Term Investment Grade Bond ETF, while the Horizons Active U.S. Floating Rate Bond (USD) ETF will now be called the Horizons Active Ultra-Short Term U.S. Investment Grade Bond ETF.
There are no changes to either fund’s management fees, ticker symbols or investment strategies.
Dynamic Funds announced it will lower the risk ratings for three of its funds. The Dynamic Active Canadian Dividend Fund is changing from medium, to low to medium. The Dynamic Active Crossover Bond Fund is changing from a low-to-medium rating to a low rating. And the Dynamic Active Global Financial Services Fund will now be rated medium, rather than medium to high.
There are no changes to the funds’ investment objectives or strategies.
All changes will be effective Friday.