TORONTO, May 19 /CNW/ - Jovian Capital Corporation ("Jovian") (TSX:JOV) and its subsidiary BetaPro Management Inc. ("BetaPro"), the manager of the Horizons BetaPro exchange traded funds ("ETFs"), are pleased to announce that, further to the announcement of January
18, 2011, BetaPro has completed a third equity investment in BetaShares
Holdings Pty Ltd. ("BetaShares Holdings"). BetaShares Holdings is a private Australian holding company whose
subsidiary, BetaShares Capital Limited ("BetaShares Capital"), offers ETFs on the Australian Securities Exchange.
The initial transaction completed by BetaPro in March 2010 provided for
BetaPro to increase its equity stake in BetaShares Holdings if certain
milestones were met with regard to assets under management of the ETFs
offered by BetaShares Capital. The BetaShares Capital ETFs have
amassed combined assets under management of over $140M (Australian
dollars) as at April 30, 2011. As a result, BetaPro has now increased
its equity ownership of BetaShares Holdings to approximately 40%. In
addition, BetaPro holds options to acquire additional equity in
BetaShares Holdings over time.
Adam Felesky, C.E.O. of BetaPro said, "We are very pleased at the progress and growth of the BetaShares ETFs on
the Australian Exchange. Increasing our investment in BetaShares helps
increase Horizons BetaPro's presence in the global ETFs business."
About BetaPro Management Inc. (www.horizonsetfs.com)
BetaPro manages the Horizons BetaPro family of exchange traded funds, a
broadly diversified range of investment tools with solutions for
investors of all experience levels to meet their investment objectives
in a variety of market conditions. The Horizons BetaPro
ETFs include several types of structures: single, inverse, leveraged,
inverse leveraged and spread ETFs. BetaPro is a subsidiary of Jovian
Capital Corporation (TSX: JOV), with assets under management ("AUM") of approximately $2.3 billion as of April 29, 2011, amongst 49 ETFs.
Its subsidiary, AlphaPro Management Inc., Canada's largest provider of
actively-managed ETFs, has more than $650 million of AUM as of April
29, 2011 amongst 19 ETFs and funds. Together under the Horizons ETFs
brand, the two companies currently have more than 70 TSX listings and
almost $3 billion of AUM.
About Jovian Capital Corporation
Jovian acquires, creates and grows financial services companies
specializing in three primary market segments: wealth management,
traditional asset managers, and exchange traded fund asset managers.
The Jovian group of companies (AlphaPro Management Inc., BetaPro
Management Inc., Hahn Investment Stewards & Company Inc., Horizons
Exchange Traded Funds Inc., JovFunds Management Inc., JovInvestment
Management Inc., Leon Frazer & Associates Inc., MGI Financial Inc., MGI
Securities Inc., MGI Securities (USA) Inc. and T.E. Wealth) manages
approximately $13.0 billion of client assets ($7.5 billion in assets
under management and $5.5 billion in assets under administration).
Additional information is available at www.joviancapital.com and www.sedar.com.
SOURCE Jovian Capital Corporation
For further information:
Don Sangster, Investor Relations, Jovian Capital Corporation, (416) 933-5744; or
Philip Armstrong, Chief Executive Officer, Jovian Capital Corporation, (416) 933-5752.