Horizons ETFs launches the Horizons Cdn Insider Index ETF
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Horizons Cdn Insider Index ETF is the first Canadian ETF to track insider commitment to determine stock holdings
TORONTO, Jan. 21, 2015 /CNW/ – Horizons ETFs Management (Canada) Inc. (“Horizons ETFs“) is pleased to announce the launch of the Horizons Cdn Insider Index ETF (“HII“), an innovative ETF that uses insider commitment to select and confirm the performance potential of its stock holdings.
Units of HII will begin trading tomorrow on the Toronto Stock Exchange (“TSX“) under the ticker symbol below.
Name of ETF
TSX Ticker Symbol
Horizons Cdn Insider Index ETF
HII
HII seeks to replicate, to the extent possible, the performance of the INK Canadian Insider Index (the “Index“), net of expenses. The Index is designed to provide exposure to the performance of 50 TSX-listed stocks which, amongst other things, demonstrate significant amounts of insider buying and ownership.
The Index was developed by INK Research Corp. (“INK Research“), a Canadian-based research firm that tracks insider buying statistics of North American-listed companies. The stocks within the Index, in aggregate, provide diversified Canadian market exposure and hold positive metrics of a combination of fundamental valuation, insider commitment and price momentum metrics.
Not to be confused with the practice of ‘insider trading,’ insider commitment refers to the purchase and ownership of shares in a corporation by an officer or director of the company. Officers and directors who hold equity have a financial interest in the success of their firm. This can make insider commitment data a powerful confirmation signal of an investment when combined with traditional valuation and price momentum indicators.
“Finding true value and momentum stocks can be difficult due to pitfalls in the ratios themselves, such as a value stock continuing to decline in price or price momentum indicators being the result of a stock that is overbought,” said Howard Atkinson, President of Horizons ETFs. “The team at INK Research believes insider commitment can be a powerful way to confirm the future growth potential of a stock, since a high level of insider commitment at a company means that those with the most profound understanding of a company – its officers and directors – remain committed to the future prospects of their firm.”
The issuers included in the Index are selected based on INK Research’s proprietary INK Edge® V.I.P. (Value, Insider, Price) screening criteria — a three category, equal-weight methodology of valuations, insider commitment and price momentum.
“At Horizons ETFs, we believe that outperforming a broad market-cap index like the S&P/TSX Composite Index can be a difficult feat,” said Mr. Atkinson, “However, HII’s strategy, which puts an equal weighting on valuations, insider commitment and price momentum, provides the potential for outperforming the broader Canadian stock market, as it selects issuers that tend not to be as widely held by larger-cap indices.”
This is the first index designed by INK Research and encapsulates the best practices of using insider commitment as one of the tools to select stocks, stated Ted Dixon, CEO of INK Research:
“We’re proud to be partnering with Horizons ETFs in launching the first ETF in Canada that explicitly uses insider commitment as one of the core metrics in its investment strategy,” said Mr. Dixon. “On its own, insider commitment may not be able to highlight stocks with future growth potential, but when you combine this analysis with value and price momentum indicators, there can be an opportunity to outperform the broader markets.”
HII has closed the initial offering of its units and will begin trading on the TSX when the market opens this morning.
About INK Research Corp. (www.inkresearch.com)
INK stands for Insider News and Knowledge. Since its inception, INK Research has operated as an independent Canadian-based financial information firm that focuses on providing commercial monitoring and research on insider trading reports in Canada and U.S. markets. Through its research, INK provides investors, analysts, advisors and institutions an edge in growth and value investing through better access and understanding of insider reports.
About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)
Horizons ETFs Management (Canada) Inc. and its affiliate AlphaPro Management Inc. are innovative financial services companies offering the Horizons ETFs family of exchange traded funds. The Horizons ETFs family includes a broadly diversified range of investment tools with solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs has more than $4.6 billion of assets under management and with 72 ETFs listed on the Toronto Stock Exchange (as at December 31, 2014), the Horizons ETFs family makes up one of the largest families of ETFs in Canada. Horizons ETFs Management (Canada) Inc. and AlphaPro Management Inc. are members of the Mirae Asset Global Investments Group.
INK Research is not an investment advisory service, a financial planner, an investment advisor nor a securities advisor. INK does not purport to tell people, or suggest to people, what they should buy or sell for themselves. Nothing herein should be construed as investment advice or an offer to sell securities or an offer of services in jurisdictions where INK does not have the necessary licenses.
Commissions, trailing commissions, management fees and expenses all may be associated with an investment in exchange traded products managed by Horizons ETFs Management (Canada) Inc. (the “Horizons Exchange Traded Products”). The Horizons Exchange Traded Products are not guaranteed, their values change frequently and past performance may not be repeated. HSL invests primarily in senior secured loans, which typically have settlement periods that are longer than for other types of debt securities. HSL is not a substitute for holding cash or money market securities. Please read the relevant prospectus before investing.
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