Horizons ETFs Management (LATAM) LLC is an investment advisory firm that oversees the development of the Horizons-branded investment products in Latin America. Its affiliate Horizons ETFs Management (Canada) Inc. ("HEMI") acts as Portfolio Manager to the various exchange traded funds listed below:

Fondo Bursátil Horizons Colombia Select de S&P, an exchange traded fund domiciled in Colombia, established according to provisions set out in Decree 2555 of 2010, Republic of Colombia, whose participation units listed on the Bolsa de Valores de Colombia (BVC), under the ticker symbol HCOLSEL.

Fondo Bursátil Horizons Colombia Select de S&P (HCOLSEL)

Fondo Bursátil Horizons Colombia Select de S&P (“Horizons Colombia Select”) seeks investment results that, before fees and expenses, are comparable to the S&P Colombia Select Index (the “Index”), which is designed to track the performance of the largest and most liquid stocks listed on the Bolsa de Valores de Colombia (“BVC”).

Horizons Colombia Select offers investors:

• Low-cost ETF offering diversification, liquidity and transparency
• Exposure to the largest and most liquid stocks on the BVC
• Index designed and calculated by Standard & Poor’s – the largest index provider in the world
• Broad diversification with issuer and sector concentration limits

S&P Colombia Select Index
Created and calculated by Standard & Poor’s, one of the world’s most recognized index providers, the Colombia Select Index is designed to be a sector diversified benchmark index of the Colombia equity market.

Key Features:
• No single stock will have more than a 15 per cent weight in the Index, thereby reducing single stock risk
• Sector weights are capped at 40 per cent to reduce sector concentration and allow for greater sector diversification
• Robust liquidity screens reduce ETF replication constraints (i.e. can efficiently accommodate large-dollar orders)
• As the Colombian stock market grows, so can the number of holdings in the index to reflect this changing landscape
• Independent S&P committee oversees the management and policies of the Index
• Price, net and total-return versions of the Index available in both USD and COP
• Constituents restricted to Colombian domiciled companies listed on the BVC
• The Index uses an industry classification scheme which allows investors to compare global securities

Participation units of Horizons Colombia Select trade on the Bolsa de Valores de Colombia (BVC) just like ordinary stocks, at any time throughout the regular trading day, Monday to Friday, except on non-trading days. The BVC maintains a schedule of trading hours and non-trading days on its Internet site (click here). Investors outside of Colombia can buy and sell participation units as long as they have access to the BVC through a registered broker or dealer in compliance with the requirements set out by the Bank of the Republic of Colombia for such investors.

Fiduciaria Bogotá S.A. (Fidubogotá) acts as the Management Company of the Fondo Bursátil Horizons Colombia Select de S&P.

Management Company
Fiduciaria Bogotá S.A. - Fiduciaria Bogotá S.A. (Fidubogotá) is a subsidiary of BANCO DE BOGOTA and is a member of Grupo AVAL. It was established in September 1991 and it is a leader in fiduciary products and services. Fidubogotá provides strong local market knowledge, excellent good will and a range of fiduciary capabilities that few other Colombian trust companies can provide. Fidubogotá delivers integrated solutions to its clients with one of the most experienced and well known fiduciary services team, offering one of the widest range of local products available.

Portfolio Manager
Horizons ETFs Management (Canada) Inc.

Exchange
Bolsa de Valores de Colombia

The Horizons ETFs Group
Horizons ETFs Management (LATAM) LLC and Horizons ETFs Management (Canada) Inc. are members of the Horizons ETFs Group. The Horizons ETFs Group consists of innovative financial services companies offering regional families of ETFs in Canada, Korea, Hong Kong, Australia, the United States and Colombia. Currently, all of the ETFs offered by these companies use the Horizons ETFs’ brand with the exception of the ‘BetaShares’ family of ETFs in Australia and the ‘Mirae Asset Tiger ETFs’ family in Korea. All of the Horizons ETFs Group companies and affiliates are subsidiaries of Mirae Asset Global Investments Co., Ltd.

Mirae Asset Global Investments
Mirae Asset Global Investments is one of the world’s largest investment managers in emerging market equities (Investments & Pensions Europe, January 2014). With approximately 570 employees, including 124 dedicated investment professionals, Mirae Asset offers a breadth of emerging markets expertise. Mirae Asset’s offices are located in Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Korea, Taiwan, the U.K., the United States and Vietnam. Headquartered in Seoul, South Korea, the firm manages assets globally through a diversified platform to offer market-leading franchises in traditional equity and fixed income products, ETFs and alternative strategies, such as real estate, private equity and hedge funds.