HXT Global X S&P TSX 60 Index Corporate Class ETF

TORONTO, Dec. 8, 2014 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") announces today the estimated non-cash capital gains to be distributed to unitholders of certain of the exchange traded funds (the "ETFs") managed by it and its affiliate AlphaPro Management Inc. for the 2014 tax year as indicated in the table below. With respect to the Horizons BetaPro family of leveraged, inverse, inverse leveraged and volatility ETFs as well as the Horizons benchmark ETFs, this is expected to be the eighth consecutive year with no capital gains distributions. This includes the Horizons S&P/TSX 60^TM Index ETF (HXT:TSX) and the Horizons S&P 500® ETF (HXS:TSX), which have both completed 4 full calendar years of operations since their inception without any capital gains distributions to unitholders.

Please note that these are estimated amounts only. Circumstances may arise which could cause these estimates to change before the ETF's applicable tax year ends on December 15, 2014 or December 31, 2014.

Each of the ETFs is required to distribute any net income and capital gains that is has earned in the year. The final annual capital gains distributions will not be paid in cash but will be reinvested and reported as taxable distributions, and will be used to increase each unitholder's adjusted cost base for the respective ETF. These estimated amounts are for the annual capital gains distributions and do not include any estimates of the regular monthly or quarterly cash distributions, as applicable, including those capital gains that may form part of the monthly and/or quarterly distributions.

Horizons ETFs expects to announce the final year-end income and capital gains distribution amounts, as well as regular monthly or quarterly distribution amounts, on or about December 18 and 19, 2014. The ex-dividend date for these distributions is anticipated to be December 29, 2014, for all unitholders of record on December 31, 2014.  In early 2015, the tax characteristics of all distributions for 2014 for the ETFs will be reported to brokers via CDS.

Reasons for the larger estimated capital gains distribution for:

HEA.U, HEA / HEA.V, HEA.A

Horizons Enhanced Income US Equity (USD) ETF realized capital gains consistently throughout the year largely as a result of the ETF's equity positions getting sold as part of the ETF's call option writing strategy. The S&P 500® has returned approximately 14% year to date to the end of November on a total return basis. With historically low volatility driving much of the call writing during the year towards near-the-money options in order to generate premiums, the steady upward movement in the S&P 500® would frequently cause the ETF's equity positions to move through the written strike prices forcing the ETF to realize accumulated gains from the inception of the ETF.

Certain  statements  may  constitute  a  forward  looking  statement,  including  those  identified  by  the  expressions "estimate" or "expect" and similar expressions (including grammatical variations thereof) to the extent they relate to the ETFs or Horizons ETFs. The forward-looking statements are not historical facts but reflect the ETFs, the ETF's managers or Horizons ETFs current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations.  These and other factors should be considered carefully and readers should not place undue reliance on the ETFs' forward looking statements. These forward-looking statements are made as of the date hereof and the ETFs do not undertake to update any forward-looking statement that is contained herein, whether as a result of new information, future events or otherwise, unless required by applicable law.

Commissions, trailing commissions, management fees and expenses all may be associated with investments in the ETFs. The ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus before investing.

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 $4.8 billion of assets under management and with 72 ETFs listed on the Toronto Stock Exchange, 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 Financial Group.

SOURCE Horizons ETFs Management (Canada) Inc.