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First Trust Advisors has announced that shareholders of the First Trust Horizon Managed Volatility Developed International ETF (HDMV) approved a new investment sub-advisory agreement with Horizon Investments, LLC. This move follows Horizon's acquisition of a majority stake by ACP Horizon Holdings. The transition does not affect the daily operations or portfolio management of the Fund. Horizon manages approximately $6.96 billion in assets as of September 30, 2021. First Trust Advisors, based in Wheaton, Illinois, oversees approximately $210 billion in assets across various investment vehicles.
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