Healthcare Corporation of America Announces Going Dark Jul 25, 2014 03:55PM

Denville, New Jersey (PRWEB) July 25, 2014

Healthcare Corporation of America (OTCQB: HCCA) announced today that it filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under Section 12(g) of the Securities Exchange Act of 1934, as amended (the "Act"). The Company is eligible to deregister its common stock by filing a Form 15 under Section 12(g) of the Act because the Company currently has fewer than 300 holders of record of its securities. The Company expects that its obligation to file periodic reports, such as Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, under Section 13(a) of the Act will be suspended upon the filing of the Form 15. The deregistration under Section 12(g) of the Act is expected to be effective 90 days after the filing of the Form 15 at which time the Company's other filing requirements under Section 13(a) of the Act will terminate.

The Company's common stock is currently traded on the OTCQB, operated by OTC Markets Group, a centralized electronic quotation service for over-the-counter securities. The Company expects that its common stock will continue to be quoted on the OTCQB until its periodic reporting obligations under Section 15(d) of the Act are suspended, at which time the Company anticipates its common stock will be traded on OTC Pink Market, so long as market makers demonstrate an interest in trading in the Company's common stock. However, there is no assurance that trading in the Company's common stock will continue on the OTC Pink Market or on any other securities exchange or quotation medium.

The decision of the Company's Board of Directors to deregister its common stock was based on the consideration of numerous factors, including the large costs of preparing and filing periodic reports with the SEC, the increased outside accounting, audit, legal and other costs and expenses associated with being a public company, the burdens placed on Company management to comply with reporting requirements, and the low trading volume in the Company's common stock. After deregistration of the Company's common stock is effective and its periodic reporting requirements are suspended, the Company intends to continue to provide interim unaudited financial information and annual audited financial information to its stockholders.

Natasha Giordano, the Company's Chief Executive Officer, commented, "These actions are designed to reduce our operating costs. The consequences of remaining an SEC-reporting company, which includes significant costs and management time associated with regulatory compliance, outweighed the current benefits of being a publicly reporting company."

About the Company

Based in Denville, N.J., Healthcare Corporation of America's (HCCA) mission is to reduce prescription drug costs for clients while improving the quality of care for its members and their families. The Company is an industry leader that offers comprehensive Pharmacy Benefit Management (PBM) services to employers, unions, and third party administrators. The Company also provides innovative, proprietary 340BasicsSM software and turnkey solutions that enable real-time eligibility processing to help covered entities and hospitals improve their capture rate and manage all processes related to the Federal 340B Drug Discount Program. The Company's deep industry expertise, unique clinical programs and innovative software and services facilitate our intensive auditing capabilities for both PBM and 340B programs for maximum financial savings, compliance, as well as improved quality of care for its clients and members. To learn more, visit http://www.hccarx.com.

Forward-looking Statement

Certain information and statements contained in this news release are forward-looking statements. These forward-looking statements can be generally identified as such because they include future tense or dates, are not historical or current facts, or include words such as "believe," "may," "expect," "intend," "plan," "anticipate," or words of similar import. Forward-looking statements express management's current expectations or forecasts of future events or outcomes, but are not guarantees of performance or outcomes and are subject to certain risks and uncertainties that could cause actual results or outcomes to differ materially from those in such statements.

HCCA does not undertake any obligation to update or revise publicly any forward-looking statements to reflect information, events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events or circumstances.

Contact:
Scott Weeber, (973) 983-6300

Read the full story at http://www.prweb.com/releases/2014/07/prweb12048308.htm


Susan G. Komen®, the Young Survival Coalition® and Living Beyond Breast Cancer® Applaud Bill to Reauthorize the Breast Health Education and Awareness Requires Learning Young Act (EARLY) Jul 25, 2014 03:55PM

Act provides awareness and education on the breast cancer risks facing young women

WASHINGTON--(BUSINESS WIRE)-- Susan G. Komen, the Young Survival Coalition (YSC) and Living Beyond Breast Cancer (LBBC) today applauded a new bill to reauthorize the Breast Health Education and Awareness Requires Learning Young Act, or EARLY Act.

Introduced for reauthorization in the House and Senate by Reps. Debbie Wasserman Schultz (D-FL) and Renee Ellmers (R-NC) and Sens. Amy Klobuchar (D-MN) and David Vitter (R-LA), the bill, if passed, would ensure that the Act will continue to serve the educational needs of young women facing breast cancer and empower them to take control over their own health.

”The EARLY Act allows young women to benefit from evidenced-based, age-appropriate breast health education, when they are young and still developing good, lifelong health habits,” said Judith A. Salerno, M.D., M.S. “We are grateful for Reps. Debbie Wasserman Schultz and Renee Ellmers and Sens. Amy Klobuchar and David Vitter’s leadership in introducing this critical piece of legislation.”

The EARLY Act was signed into law in 2010 and created an education and outreach campaign in partnership with the U.S. Centers for Disease and Control Prevention (CDC) to bring attention to the breast cancer risks that young women may face. Through the Act, health care providers have been given education and information about breast cancer in young women to ensure young women are aware of and properly informed about their potential risk.

“YSC is elated to support the reauthorization of the EARLY Act and its continued commitment to young women diagnosed with breast cancer,” said YSC CEO Jennifer Merschdorf. “The efforts of the sponsors in the House and Senate, partnered with the implementation goals of the CDC, send a resounding message that the unique issues faced by young women diagnosed, their education and support remain important focal points in the nation’s conversation on breast cancer.”

“There are many misconceptions about young women and breast cancer,” said Jean Sachs, CEO of LBBC. “Providing accurate information to young women and connecting them to trusted resources is critically important. It is also vital to educate the public about the impact breast cancer has on young women. LBBC applauds the bill’s sponsors in the House and Senate, and the CDC for its effective implementation of the law.”

In the four years since its passage, the EARLY Act has allowed the CDC to identify gaps in education among young women and health providers, provide grants to local breast cancer organizations that work in assisting young women, and create campaigns to raise awareness that breast cancer is a disease that knows no age limits.

Eleven percent of breast cancers occur in women under age 45 and breast cancer is the leading cause of cancer death (death from any type of cancer) among women ages 20 to 59.

In addition to funding research into breast cancer in young women, Salerno noted that Komen works in partnership with organizations such as YSC and LBBC on programs to reach this population that may be at risk.

Learn about unique issues for younger women facing breast cancer at this link: http://ww5.komen.org/BreastCancer/YoungWomenandBreastCancer.html.

Access resources, education and a community supporting young women diagnosed with breast cancer: http://www.youngsurvival.org/sync.

To access resources for young women: http://www.lbbc.org/Audiences/Young-Women.

About Susan G. Komen®

Susan G. Komen is the world’s largest breast cancer organization, funding more breast cancer research than any other nonprofit while providing real-time help to those facing the disease. Since its founding in 1982, Komen has funded more than $804 million in research and provided $1.7 billion in funding to screening, education, treatment and psychosocial support programs serving millions of people in more than 30 countries worldwide. Komen was founded by Nancy G. Brinker, who promised her sister, Susan G. Komen, that she would end the disease that claimed Suzy’s life. Visit komen.org or call 1-877 GO KOMEN. Connect with us on Facebook and Twitter.

About Young Survival Coalition (YSC)®

Established in 1998, Young Survival Coalition (YSC) is the premier global organization dedicated to young women diagnosed with breast cancer. YSC offers free resources, connections and educational materials so young women with breast cancer feel supported, empowered and hopeful. Through action, advocacy and awareness, YSC seeks to educate and influence the medical, research, breast cancer and legislative communities to address breast cancer in young women, and ensure that no young woman faces breast cancer alone. For more information, visit youngsurvival.org, call 877.972.1011 or connect with us on Facebook and follow us on Twitter and Instagram.

About Living Beyond Breast Cancer (LBBC)®

Founded in 1991 LBBC’s mission is to connect people impacted by breast cancer with trusted information and a community of support. LBBC is nationally recognized for providing high quality tailored education and support programs for women of all ages. Programs include conferences, webinars, topic specific publications and a toll-free Breast Cancer Helpline. LBBC’s vision is a world where no one impacted by breast cancer feels uninformed or alone. For more information, visit lbbc.org.

Susan G. Komen®

Kiki Burger, 972-855-4382

kburger@komen.org

Source: Susan G. Komen


Harte Hanks Announces 2nd Quarter 2014 Financial Results Conference Call Jul 25, 2014 03:53PM

NEW YORK, NY -- (Marketwired) -- 07/25/14 -- Harte Hanks (NYSE: HHS), a leading marketing services organization that partners with top brands to establish deeper relationships with its customers and prospects, is scheduled to release its second quarter 2014 financial results on Thursday, July 31, 2014. The company will host a conference call to discuss the earnings release on July 31, 2014, at 10:00 a.m. Eastern Time. The conference call number is (888) 724-9496 for domestic callers and (913) 312-0719 for international callers, conference ID 8762736. To access an audio webcast, please go to the link within the Harte Hanks website in the Investors section. An audio replay will be available shortly after the call through August 7, 2014 at (888) 203-1112 for domestic callers and (719) 457-0820 for international callers, conference ID 8762736. The replay also will be available on the Harte Hanks web site in the Investors section.

About Harte Hanks Harte Hanks is one of the world's leading, insight-driven multi-channel marketing organizations, delivering impactful business results for some of the world's best-known brands. Through strategic agencies and our core marketing services, we develop integrated solutions that connect brands with prospects and customers, moving them beyond awareness to transactions and brand loyalty. Visit the Harte Hanks website at http://HarteHanks.com or call (800) 456-9748.

As used herein, "Harte Hanks" refers to Harte-Hanks, Inc. and/or its applicable operating subsidiaries, as the context may require. Harte Hanks' logo and name are trademarks of Harte Hanks. All other brand names, product names, or trademarks belong to their respective owners.

Source: Harte Hanks, Inc.


Fitch Rates Austin ISD, TX's 2014A ULT Rfdg Bonds 'AAA' PSF/'AA+' Underlying; Outlook Stable Jul 25, 2014 03:54PM

AUSTIN, Texas--(BUSINESS WIRE)-- Fitch Ratings assigns an 'AAA' rating to the following Austin Independent School District, Texas' (Austin ISD or the district) unlimited tax bonds (ULTs):

--$63.6 million ULT refunding bonds, series 2014A.

The aforementioned rating is based on a guaranty provided by the Texas Permanent School Fund (PSF), whose bond guaranty program is rated 'AAA' by Fitch.

Fitch also assigns an underlying 'AA+' rating to the series 2014A bonds and to the $79.9 million in ULT refunding bonds, series 2014B. Fitch also affirms the 'AA+' rating on the district's approximately $869.2 million (pre-refunding) in outstanding ULT bonds.

The Rating Outlook is Stable.

The bonds are scheduled for a negotiated sale on July 31, 2014. Proceeds from the sale will be used to refund outstanding commercial paper issued for capital projects, refund certain outstanding obligations for savings, and to pay issuance costs.

SECURITY

The bonds are payable and secured by an unlimited ad valorem tax pledge levied against all taxable property within the district.

KEY RATING DRIVERS

SOLID RESERVES: Management's conservative fiscal practices are projected to again narrow the year's moderately-sized structural imbalance budgeted and preserve a sound financial cushion that remains in line with established policy.

TAV GROWTH STRENGTHENS: The tax base is diverse and robust. Taxable assessed valuation (TAV) continues to strengthen after modest recessionary decline. Further TAV growth is projected over the near term.

STABLE REGIONAL ECONOMY: Economic indicators for the city of Austin (the city) indicate a generally sound service area with unemployment levels that remain below state and national levels despite solid labor force growth. Income and wealth metrics are slightly below those of the state and nation. Educational attainment levels equal or exceed those of the U.S.

MODERATE LONG-TERM LIABILITIES: Overall debt levels and other long-term liabilities of the district are moderate. Amortization of principal is slightly above average. Carrying costs are low and expected to remain manageable over at least the near term.

RATING SENSITIVITIES

DETERIORATION OF RESERVES: Sound reserve levels that provide significant financial flexibility underpin the high 'AA+' rating, particularly in light of the district's limited revenue-raising ability under the current school funding formula. Material deterioration of the district's financial position from a growing and unmitigated structural imbalance could signal a fundamental shift in its credit profile, leading to negative rating action. The Stable Outlook reflects Fitch's expectation that such shifts are unlikely.

CREDIT PROFILE

Austin ISD is the fifth largest school district in the state with nearly 130 campuses and a current enrollment of about 85,500, serving the city (general obligation bonds rated 'AAA' by Fitch) and about 852,000 residents.

FAVORABLE ECONOMIC CONDITIONS

While not immune to recessionary forces, the city's economy historically has been buffered by the large and stabilizing presence of state government as well as seven colleges and universities. The latter includes the University of Texas (the University of Texas System is rated 'AAA' by Fitch with a Stable Outlook), one of the largest public universities in the country. High-technology manufacturing is also a major employer, attracted to the area by a well-educated workforce and the availability of major research facilities. Year-over-year unemployment trends reflect further economic improvement as unemployment has continued to fall despite solid labor force growth. City unemployment declined to a low 3.8% in May 2014, which was down from 4.8% in May 2013 and below the state and U.S. rates of 5.1% and 6.1% respectively. Income and wealth levels as measured by median household income are slightly below those of the larger Austin-Round Rock-San Marcos metropolitan statistical area, the state, and the U.S.

TAV GROWTH STRENGTHENS

The district's tax base has historically been characterized by strong, annual TAV growth pre-recession given area population trends and the resulting economic expansion. It remained resilient over the recession, registering only one year of a modest TAV decline in fiscal 2011 and has since reflected steady increases. TAV grew by approximately 7% in fiscal 2014, which was up from 4% in fiscal 2013. Management assumes further, moderate TAV gain in fiscal 2015, which Fitch believes is reasonable given various new development projects underway, bolstered by a robust economy. Concentration among the top 10 taxpayers is minimal at 4%; about three of the top taxpayers are large, high-tech firms.

BUILD-UP OF RESERVE CUSHION IN PRIOR FISCAL YEARS

The district is considered property wealthy and relies almost entirely on local property taxes, but its funding is subject to the state's formula and a portion of the district's operating tax levy is effectively recaptured by the state for distribution to less wealthy school districts. For fiscals 2013 and 2014, these payments approximated $120 million and $128 million, respectively, or around 15% of total general fund spending.

The district generated large surpluses over fiscals 2010-2012 due to the receipt of one-time federal stimulus funds as well as significant budgetary cuts that addressed state funding reductions in the last biennium (fiscals 2012-2013). This combination allowed the district to maintain and improve upon its financial position. The district declared financial exigency in 2011, as required by state law, which allowed it to implement a significant reduction in force. Nearly 1,300 positions were eliminated by attrition or layoffs. Financial exigency ended roughly a year later on Jan. 30, 2012.

Reserve levels peaked at fiscal 2012 year-end with an unrestricted general fund balance of $244 million or nearly 31% of spending. The district has since then planned for a moderate use of reserves annually as the primary means to offset growth in spending and structural operating imbalance despite some improvement in state funding over the fiscal 2014-2015 biennium.

RELIANCE ON RESERVES MANAGEABLE TO DATE

Fiscal 2013 year-end results slightly improved upon management's previous expectations. The year's budgeted $28 million draw on reserves was narrowed to less than half at $12 million (or 1.5% of spending), enabled by management's conservative budgeting and spending practices. Unrestricted general fund reserves equaled $231 million or about 28% of spending, which remained comfortably above the district's stated 20% unassigned reserve policy. Liquidity as measured by general fund cash/investments totaled $277 million or a sound four months of general operational spending.

Management again anticipates using reserves for operations, although less than budgeted at fiscal 2014 year-end. This is despite an unanticipated loss of about $10 million in student-related state aid from the year's 1% enrollment loss that reversed prior years' steady and comparably sized enrollment gains. Tighter year-to-date spending assisted by some reduction in enrollment-related operating costs are projected to reduce the budgeted $32 million drawdown (about 4% of spending) to $18 million at fiscal 2014 year-end. Unrestricted fund balance is projected at about $213 million or just under 25% of spending.

The preliminary $904 million fiscal 2015 general operating budget assumes enrollment to remain flat to slightly declining, which is forecast over the near to intermediate term by the district's outside demographer. Structural operating imbalance is addressed with a similarly-sized $33 million drawdown on reserves (or 3.6% of budgeted spending) for the third fiscal year. Fitch expects this use of reserves will narrow again over the fiscal year given the district's historical operating performance. The district presently projects maintaining unassigned reserves in line with policy at just under 20% of spending by fiscal 2014 year-end.

A multi-year financial forecast through fiscal 2018 currently projects moderate although growing structural imbalance annually, up from $33 million in fiscal 2015 to $64.7 million (6.5% of general fund spending) in fiscal 2018, driven in large part by rising annual recapture payments from a growing tax base without counterbalancing spending actions and annually diminished reserve levels well below what Fitch would expect at the currently high rating category.

Fitch views these forecasts with some concern given the finite nature of the reserves, although recognizes the moderate size of the annual imbalance to budget and the likely conservative nature of the forecasts. Fitch assumes in the current rating action management will take appropriate steps to address the structural operating imbalance as the district nears its policy reserve threshold. Absent such developments, Fitch would likely reconsider the district's rating. An operating tax ratification election also remains available to the district that would generate about $30 million annually and require voter approval, although management indicates the timing and political will of the board to pursue this option remains uncertain.

TEXAS SCHOOL DISTRICT LITIGATION

In February 2013 a district judge ruled that the state's school finance system is unconstitutional. The ruling, which was in response to a consolidation of six lawsuits representing 75% of Texas school children, found the system 'inefficient, inequitable, and unsuitable and arbitrarily funds districts at different levels...'. The judge also cited inadequate funding and districts' inability to exercise 'meaningful discretion' in setting tax rates as constitutional flaws in the current system.

The judge agreed to reopen testimony in January 2014 after the Texas legislature restored $4.5 billion in school funding in its 2013 session. The increased funding levels apply to school district budgets in fiscal years 2014 and 2015. The judge will determine if the additional funding affected arguments made during the trial. It is anticipated that the original ruling, if upheld, will ultimately be appealed to the state supreme court.

DEBT AND OTHER LONG-TERM LIABILITIES MANAGEABLE

Overall debt levels are moderate at approximately $2,500 per capita and 2.7% of market value and little changed with this issuance. The district will refund all of its currently outstanding commercial paper with the majority of the series 2014A issuance; the district is one of few Texas school districts to utilize such a program. Principal amortization remains slightly above average at 54% in 10 years.

Solid TAV gains have generally mitigated the debt service tax rate impact of the district's previous borrowings, enabling the district to implement its capital plan with limited tax rate impact. The district expects to reduce its debt service tax rate by $0.02 per $100 TAV beginning in fiscal 2015 despite its planned near-term issuances, utilizing about $14 million of debt service fund balance and what Fitch believes to be are reasonable TAV growth assumptions. The district anticipates continued utilization of its commercial paper program (issuing about $125 million annually) and fixing it out into long-term debt allowable from its remaining bond authority, which totals about $550 million, largely for renewal/expansion of existing facilities.

Management indicates the district maintains enrollment capacity in its facilities district wide. Fitch anticipates district officials will likely implement some interim measures such as attendance rezoning to manage some of its additional near- to intermediate-term capital needs for the pockets of enrollment growth not included in the outstanding GO bond authorization.

Retiree pension and healthcare benefits are provided through the Teacher Retirement System of Texas (TRS), a cost-sharing multiple employer plan. The district's annual contribution to TRS is determined by state law as is the contribution for the state-run post-employment benefit healthcare plan; the district consistently funds its annual required contributions. District employees contribute to TRS for pensions at 6.4% of annual payroll, and the state pays the local district's contributions (6.4% of payroll in fiscal 2013), with the exception of district contributions for probationary employees and for benefits on employees' salaries that exceed the TRS statutory minimum. Other post-employment benefit (OPEB) contributions paid by the district are nominal as the state and employees also pay the bulk of these costs. Total pension and OPEB contributions made by the district in fiscal 2013 totaled less than 1% of governmental fund expenditures.

TRS is adequately funded at 81.9% as of Aug. 31, 2012, though Fitch estimates the funded position to be lower at 73.8% when a more conservative 7% return assumption is used. The state's payment of district pension costs is an important credit strength as it keeps overall carrying costs manageable in the face of a high and growing debt burden. Carrying costs for the district (debt service, pension, OPEB costs, net of state support) totaled a below-average 9% of governmental fund spending in fiscal 2013, made up largely of the district's annual debt load. Starting in fiscal 2015, pension contributions for all districts in the state will rise to 1.5% on the statutory minimum portion of payroll, from zero, increasing carrying costs further, although pass-through state aid is projected to largely offset the year's increase. Further increases in district funding requirements beyond fiscal 2015 could create additional budget pressure, which Fitch will monitor.

Additional information is available at 'www.fitchratings.com'.

In addition to the sources of information identified in the Tax-Supported Rating Criteria, this action was additionally informed by information from Creditscope, Texas Municipal Advisory Council, and IHS Global Insight.

Applicable Criteria and Related Research:

--'Tax-Supported Rating Criteria', Aug. 14, 2012.

--'U.S. Local Government Tax-Supported Rating Criteria', Aug. 14, 2012.

Applicable Criteria and Related Research:

Tax-Supported Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=686015

U.S. Local Government Tax-Supported Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=685314

Additional Disclosure

Solicitation Status

http://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=841757

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Fitch Ratings

Primary Analyst

Rebecca C. Moses

Director

Fitch Ratings, Inc.

+1-512-215-3739

111 Congress Ave., Suite 2010

Austin, TX 78701

or

Secondary Analyst

Shane Sellstrom

Analyst

+1-512-215-3727

or

Committee Chairperson

Amy Laskey

Managing Director

+1-212-908-0568

or

Media Relations

Elizabeth Fogerty, New York, +1-212-908-0526

elizabeth.fogerty@fitchratings.com

Source: Fitch Ratings


Vanguard Announces Cash Distributions for the Vanguard ETFs (VBU and VBG) Jul 25, 2014 03:53PM

TORONTO--(BUSINESS WIRE)-- Vanguard Investments Canada Inc. today announced the final July 2014 monthly cash distributions for certain Vanguard ETFs listed below that trade on Toronto Stock Exchange (TSX). Unitholders of record on August 6, 2014 will receive cash distributions payable on August 11, 2014. Details of the “per unit” distribution amounts are as follows:

             
Vanguard ETF™  

TSXTickerSymbol

 

Distributionper Unit ($)

 

PaymentFrequency

Vanguard U.S. Aggregate Bond Index ETF (CAD-hedged)   VBU   0.058156   Monthly
Vanguard Global ex-U.S. Aggregate Bond Index ETF (CAD-hedged)   VBG   0.033257   Monthly
     

To learn more about the TSX-listed Vanguard ETFs™, please visit www.vanguardcanada.ca.

About Vanguard

Vanguard Investments Canada Inc. is a wholly owned indirect subsidiary of The Vanguard Group, Inc. and manages more than $2.5 billion (CAD) in assets. The Vanguard Group, Inc. is one of the world's largest investment management companies and a leading provider of company-sponsored retirement plan services. Vanguard has global assets of more than $2.8 trillion (USD), including more than $370 billion (USD) in global ETF assets. Vanguard has offices in the United States, Canada, Europe, Australia and Asia. The firm offers more than 160 funds to U.S. investors and more than 100 additional funds, including ETFs, to clients in the other markets in which the firm operates.

Vanguard operates under a unique operating structure. Unlike firms that are publicly held or owned by a small group of individuals, The Vanguard Group is owned by Vanguard's U.S.-domiciled funds and ETFs. Those funds, in turn, are owned by Vanguard clients. This unique mutual structure aligns Vanguard interests with those of its investors and drives the culture, philosophy and policies throughout the Vanguard organization worldwide. As a result, Canadian investors benefit from Vanguard's stability and experience, low-cost investing and client focus. For more information, please visit vanguardcanada.ca.

All asset figures are as of June 30, 2014, unless otherwise noted.

Commissions, management fees, and expenses all may be associated with the Vanguard ETFs. This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies are available from Vanguard Investments Canada Inc. at www.vanguardcanada.ca. Please read the prospectus before investing. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated.

“FTSE®” is a trademark of London Stock Exchange Group companies and is used by FTSE International Limited (“FTSE”) under licence. The Vanguard FTSE Canadian High Dividend Yield Index ETF and Vanguard FTSE Canadian Capped REIT Index ETF (the “Products”) have been developed solely by Vanguard. FTSE and its licensors are not connected to and do not sponsor, advise, recommend, endorse or promote the Products and do not accept any liability whatsoever to any person arising out of an investment in or operation of the Products. FTSE makes no claim, prediction, warranty or representation either as to the results to be obtained from the Products.

For more information, contact Vanguard Public Relations at 610-669-5002.

Source: Vanguard Investments Canada Inc.


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Jul 25, 2014 03:00PM Lumetrics Announces Puerto Rico Sales Representative
Jul 25, 2014 03:00PM The Law Offices of William C. Trevillian amazed by the positive feedback the firm has received from customers in recent months
Jul 25, 2014 03:00PM Remy International Declaration of Dividend on Common Stock
Jul 25, 2014 03:00PM EverBank Signs Agreement for 10-Year Extension of EverBank Field Naming Rights
Jul 25, 2014 03:00PM CreditCardChaser.com Announces the Best Ways to Pay Off Credit Card Debt
Jul 25, 2014 02:59PM Franklin Street Properties Corp. Announces Retirement of Barbara J. Fournier Effective March 31, 2015
Jul 25, 2014 02:56PM Ledyard Financial Group Declares Increase to Quarterly Dividend
Jul 25, 2014 02:52PM NASA's Mars Spacecraft Maneuvers to Prepare for Close Comet Flyby
Jul 25, 2014 02:52PM Inventor and InventHelp Client Designs Durable Pet Bed (OCM-795)
Jul 25, 2014 02:50PM Fitch Affirms Jefferson County, CO's Open Space Sales Tax Revs at 'AA'; Outlook Stable
Jul 25, 2014 02:47PM Photo Release -- NASDAQ Welcomes El Pollo Loco, Inc. (NASDAQ: LOCO) to The NASDAQ Stock Market
Jul 25, 2014 02:47PM Photo Release -- NASDAQ Welcomes El Pollo Loco, Inc. (NASDAQ: LOCO) to The NASDAQ Stock Market
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