Merger Details:

Effective January 4, 2011 Horizons AlphaPro Fiera Tactical Bond Fund (HAF.UN) converted from a closed end fund to an exchange traded fund. Class A unitholders of the closed end fund received one class E unit of the Horizons Tactical Bond ETF (HAF) for each unit of the closed end fund previously held. Class F unitholders received 1.04398 units of the Horizons Tactical Bond ETF for each unit of the closed end fund previously held. These were effected on a tax deferred basis.