Horizons ETFs

Add links
From Wikipedia, the free encyclopedia
Global X Investments Canada Inc.
IndustryInvestment management
Founded2005; 19 years ago (2005)
Headquarters
Toronto, Ontario
,
Canada
Key people
Rohit Mehta
(President and CEO)[1]
ProductsExchange-traded funds

Global X Investments Canada Inc. is a financial services company that offers exchange-traded funds. On May 1, 2024, the company changed its name from Horizons ETFs to Global X Investments Canada Inc [2]. In April 2017, Global X began offering the first cannabis industry focused exchange-traded fund (ETF), Global X Marijuana Life Sciences Index ETF. The company is also the fourth-largest ETF provider in Canada, with more than CAD$30 billion in assets[3] as of April 2023.[4][5]

History[edit]

Founded in 2005, Global X was formerly known as Horizons ETFs [6]. Prior to that, the company was known as BetaPro Management Inc., a subsidiary of Jovian Capital Corp,[7] which traded in direct-commodities linked ETFs, leveraged ETFs, and inverse ETFs.[8][9] In January 2006, the company under the brand Horizons BetaPro began offering two funds which tracked the S&P and Toronto Stock Exchange (TSX): S&P/TSX 60 Bull Plus Fund and the S&P/TSX 60 Bear Plus Fund.[10] In 2011, Jovian Capital sold BetaPro Management and its subsidiary AlphaPro Management to Mirae Asset Global Investments, based in Seoul, South Korea.[8][9][11]

In 2017, Global X launched the Horizons Marijuana Life Sciences Index ETF (HMMJ), the first marijuana-related exchange-traded fund,[12] focused on a collection of publicly-traded companies in North America.[13][14] HMMJ was listed on the Toronto Stock Exchange on April 5, 2017.[15][16] By September 2018, HMMJ's assets reached CAD$1 billion.[17][18] Despite significant losses at the end of September and the last two weeks of October,[19][20][21] HMMJ returned a 60% gain in 2018.[22] Horizons ETFs was also a sponsor of the Toronto Raptors NBA team during its 2017–18 season.[23] In August 2017, Scotiabank purchased the naming rights to the home arena of the Toronto Maple Leafs and Raptors and exercised a veto in its deal on competing institutions, ending Horizons' sponsorship of the Raptors before the 2018–19 NBA season.[24]

In April 2023, Rohit Mehta was named the new President and CEO of Global X.[25]

References[edit]

  1. ^ "Horizons ETFs names Rohit Mehta as CEO". 2023-04-23. Retrieved 2023-06-08.
  2. ^ https://www.globalx.ca/news/global-x-completes-rebrand-from-horizons-etfs-announces-upcoming-product-launches
  3. ^ O'Hara, Claire. "Horizons ETFs names Rohit Mehta as CEO". The Globe and Mail. Retrieved 2023-06-08.
  4. ^ O'Hara, Clare (2018-06-17). "New leveraged marijuana ETFs on the way". The Globe and Mail. Retrieved 2019-06-25.
  5. ^ Owram, Kristine (2018-08-27). "Canada is swimming in ETFs — and is near peak for new players, Horizons sales chief says". Financial Post. Retrieved 2019-06-25.
  6. ^ https://www.globalx.ca/news/global-x-completes-rebrand-from-horizons-etfs-announces-upcoming-product-launches
  7. ^ Critchley, Barry (2006-10-04). "BGI's Atkinson moving". National Post. p. FP2.
  8. ^ a b "UPDATE 2-Jovian to sell ETF business to Korea's Mirae for C$90 mln". Reuters. 2011-07-15. Retrieved 2019-06-25.
  9. ^ a b "South Korean mutual fund company Mirae Asset to buy the Horizon ETF business". Global News. 2011-07-15. Retrieved 2019-06-25.
  10. ^ Anderson, Fiona (2007-04-20). "A home-grown market invention comes of age". The Vancouver Sun. p. H5.
  11. ^ Dobby, Christine (2011-07-15). "Jovian sells BetaPro ETF stake". Financial Post. Retrieved 2019-06-25.
  12. ^ O'hara, Clare (2018-01-12). "Evolve Funds plans launch of Canada's first actively managed pot ETF". The Globe and Mail. Retrieved 2019-06-25.
  13. ^ Buckstein, Jeff (2017-11-14). "Themed ETFs – solid strategy or gimmick?". The Globe and Mail. Retrieved 2019-06-25.
  14. ^ "Biggest marijuana ETF on TSX adds 9 new cannabis companies, including Tilray". CBC News. 2018-09-26. Retrieved 25 June 2019.
  15. ^ Vlastelica, Ryan. "The market's first marijuana-themed ETF to start trading on Wednesday". MarketWatch. Retrieved 2019-06-25.
  16. ^ McKenna, Alain (2017-05-04). "10 choses à savoir mercredi". www.lesaffaires.com (in French). Retrieved 2019-06-25.
  17. ^ Rosenbaum, Eric (2018-09-07). "Marijuana ETF in Canada passes $1 billion in assets as weed stocks light it up". CNBC. Retrieved 2019-06-25.
  18. ^ Owram, Kristine (2019-06-25). "Canadian Pot ETF Retakes Billion-Dollar Mark on Stock Surge". Bloomberg. Retrieved 2019-06-25.
  19. ^ Hajric, Vildana; Wilson, Carolina (2019-06-25). "World's Largest Pot ETF Doubles Up Tilray, Expands Portfolio". Bloomberg. Retrieved 2019-06-25.
  20. ^ Kilgore, Tomi (2018-10-29). "Pot stocks take another dive in wake of worst week for the sector in nearly 9 months". MarketWatch. Retrieved 2019-06-25.
  21. ^ Linnane, Ciara (2018-10-28). "Cannabis stocks on track for sharp losses on the week after steep selloff". MarketWatch. Retrieved 2019-06-25.
  22. ^ Owram, Kristine (2019-06-25). "Cannabis Fund Innovator Is Planning ETF of U.S. Companies Only". Bloomberg. Retrieved 2019-06-25.
  23. ^ Carp, Sam (2017-07-27). "Toronto Raptors seal Horizons ETFs deal". SportsPro Media. Retrieved 2019-06-25.
  24. ^ "Moneyball: How corporate Canada is cashing in on the Raptors' stunning success". Retrieved 2019-06-25.
  25. ^ https://www.theglobeandmail.com/business/article-horizons-etf-ceo-rohit-mehta/

External links[edit]

Retrieved from "https://en.wikipedia.org/w/index.php?title=Horizons_ETFs&oldid=1221747320"