On December 13, 2010, AlphaPro Management Inc. ("AlphaPro"), manager of the Horizons AlphaPro family of exchange traded funds, launched Canada's first actively managed floating rate bond exchange traded fund, the Horizons AlphaPro Floating Rate Bond ETF (the "Floating Rate Bond ETF"). The Floating Rate Bond ETF began trading on the Toronto Stock Exchange under the symbol HFR. The sub-advisor to the Floating Rate Bond ETF is Natcan Investment Management Inc. The investment objective of the Floating Rate Bond ETF is to generate income that is consistent with prevailing short-term corporate bond yields while stabilizing its market value from the effects of interest rate fluctuations.The Floating Rate Bond ETF invests primarily in a portfolio of Canadian debt securities and hedges the portfolio's interest rate risk to generally maintain a portfolio duration of less than two years. It may also invest in debt securities of U.S. companies, directly, or through investments in securities of other investment funds, including exchange traded funds. The Floating Rate Bond ETF may use derivatives, including interest rate swaps, to deliver a floating rate of income. To the best of its ability, the Floating Rate Bond ETF will seek to hedge its non-Canadian dollar currency exposure to the Canadian dollar at all times.Fasken Martineau acted for AlphaPro with respect to the establishment and launch of the Floating Rate Bond ETF with a team that included Garth Foster, Munier Saloojee, Kelly McTavish, Tina Langford and Andrew Teehan (investment/securities), Mitchell Thaw (tax) and Jon Holmstrom (derivatives).