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Horizons licences INK Research’s INK Canadian Insider Index for new ETF

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Horizons ETFs Management has licensed the Insider Index from INK and has filed a preliminary prospectus for a public offering of Class A units of the Horizons Cdn Insider Index ETF (Horizons HII). 

The investment objective of Horizons HII is to seek to replicate, to the extent possible, the performance of the Insider Index, net of expenses. The Insider Index is designed to provide exposure to the performance of 50 TSX-listed growth and value stocks with significant insider buying and ownership. Horizons HII will invest and hold the equity securities of the constituents in substantially the same proportion as the Insider Index.

The Insider Index uses an equal-weight methodology and is ordinarily rebalanced on a semi-annual basis. In contrast to a market-capitalisation weighted methodology, the Insider Index seeks to provide the benefit of buying low and selling high at each rebalancing.

“INK has found that by combining insider characteristics with value and growth factors, there is an opportunity to outperform broad market-capitalisation based indexes”, says INK CEO Ted Dixon. “Is a stock a true value or growth stock? Insider buying can sometimes help answer this question, since insiders may be best able to interpret the prospects of a company.”

INK is making the Insider Index available free of charge to brokerage, financial and news websites for quotation and display. Live data can be sourced through Bloomberg (INKCINP), Thomson Reuters (.INKCINP), or via request by contacting INK via the INK indexing website index.inkresearch.com. The INK site provides historical backtest performance of the Insider Index going back almost 10 years as well as its key characteristics, current constituents and announcements. 

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