Exchange Traded Concepts to Close and Liquidate the Horizons S&P Financial Select Sector Covered Call ETF

OKLAHOMA CITY, March 11, 2015 /PRNewswire/ -- After careful consideration, the Board of Trustees of the Exchange Traded Concepts Trust II has determined to close and liquidate the Horizons S&P Financial Select Sector Covered Call ETF (NYSE: HFIN), which is managed and marketed by Horizons ETFs Management (USA) LLC ("Horizons USA").

The last day of trading of the Fund's shares on the NYSE Arca will be March 20, 2015. Shareholders may sell Fund shares through a broker in the standard manner through this date. Customary brokerage charges may apply to such transactions. The Fund will be closed to new investors as of March 20, 2015. Between March 23, 2015 and March 26, 2015, the Fund will be in the process of liquidating its portfolio assets. This will cause the Fund to increase its cash holdings and deviate from the investment objective and strategies stated in the prospectus.

Shareholders remaining in the Fund on March 23, 2015 will have their shares redeemed automatically and will receive cash in an amount equal to the net asset value of their shares as of the close of business on March 26, 2015. This amount includes any accrued capital gains and dividends. Shareholders remaining in the Fund on March 23, 2015 will not be charged any transaction fees by the Fund.

"The decision to close the Horizons S&P Financial Select Covered Call ETF comes after an extensive product lineup review, which included valuable feedback from our clients and industry partners," said Taeyong Lee, Head of the Global ETF Business for Mirae Asset, the parent company of Horizons USA. "This closure is not a reflection of our commitment to the U.S. ETF market.  We have recently undergone a strategic re- alignment of our North American ETF businesses which we believe enhances our commitment to growing our ETF business in the United States and includes plans to expand the current number of U.S.-listed ETFs that we offer."

Whether shares are sold or are automatically redeemed, they will generally recognize a capital gain (or loss) equal to the amount received for shares above (or below) or adjusted cost basis in such shares.

For additional information, please call (855) 496-3837 or visit www.HorizonsETFs.com/USA.  

Carefully consider the Funds' investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in the Funds' prospectus, which may be obtained by calling (855) 496-3837, or by visiting www.HorizonsETFs.com/USA. Read the prospectus carefully before investing.

This information is not an offer to sell or a solicitation of an offer to buy shares of any Fund to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.

Investing involves risk, including the possible loss of principal. In addition to the normal risks associated with investing, narrowly focused investments typically exhibit higher volatility.

The Horizons S&P Financial Select Sector Covered Call ETF is distributed by Foreside Fund Services, LLC, which is not affiliated with Exchange Traded Concepts, LLC or any of its affiliates.

About the Horizons ETFs Group (www.HorizonsETFs.com)  
Horizons ETFs Management (USA) LLC is a member 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. With approximately US$11.1 billion in assets under management and 161 ETF listings worldwide (as at February 28, 2015), the Horizons ETFs Group makes up one of the largest collective families of ETFs in the world. All of the Horizons ETFs Group companies and affiliates are subsidiaries of Mirae Asset Global Investments Co., Ltd.

SOURCE Exchange Traded Concepts