The new name matches New York-based Global X ETFs, which is owned and operated by Horizons’ parent company, Seoul-based Mirae Asset Financial Group
Rohit Mehta president, chief executive officer and a director of Horizons ETFs at the company’s Toronto office on March 4.Horizons ETF Management Inc. is changing its name to increase its recognition, as the country’s fourth-largest exchange traded fund company looks to double its assets under management and boost its ETF market share to 10 per cent over the next five years.
“When you take a look at the broader movement in the ETF ecosystem, people want to deal with fewer companies but have deeper relationships. And part of that deeper relationship is making sure you have the bench strength and expertise – which we have in Canada,” Mr. Mehta said in an interview ahead of the rebrand announcement on Wednesday.
Horizons is well known by investors for its actively managed ETFs, a group of funds that is one of the largest in the country with about $4.7-billion in assets, as well as launching the world’s first cannabis fund, the. The company also gained popularity with its BetaPro funds, a group of leveraged and inverse investment strategies aimed at more experienced investors.
“It goes back to the importance of recognition, as many of the Canadian advisers who were buying Global X funds were not aware it was a part of the same organization as Horizons,” Mr. Mehta said.
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