On May 8, 2014, Horizons ETFs Management (Canada) Inc. (Horizons ETFs) announced the launch of Horizons Cdn Select Universe Bond ETF, (HBB) which provides investors with low-cost and tax-efficient exposure to the Canadian investment grade bond universe. HBB has begun trading on the Toronto Stock Exchange (TSX) under the symbol HBB. HBB is the first fixed income exchange traded fund in Canada to use the innovative total return swap (TRS) structure employed by Horizons ETFs' low-cost TRS equity ETFs. Similar to other total return swap ETFs that Horizons ETFs offers, HBB tracks a total return version of the Solactive Canadian Select Universe Bond Index (Total Return) (the Index), net of expenses, which means that the net asset value of HBB will immediately reflect the value of any distributions made by the underlying securities of the Index. Fasken Martineau advised Horizons ETFs Management (Canada) Inc. with a team that included Garth Foster (Investment Funds & Securities), Munier Saloojee (Investment Funds & Securities), Mitchell Thaw (Tax), Jon Holmstrom (Banking & Finance/Derivatives) and Louise Kennedy (Banking & Finance).