TORONTO, Feb. 1 /CNW/ - GMP Capital Inc. (TSX: GMP) today announced that
GMP Securities L.P. ("GMP Securities") has launched the GMP Junior Oil
and Gas Index ("GMP Junior Oil and Gas Index" or the "Index"). The GMP
Junior Oil and Gas Index is designed to provide investors with an
investable index that tracks the performance of small to
mid-capitalization Canadian oil and gas exploration and production
companies that are publicly listed on the Toronto Stock Exchange
("TSX"). The GMP Junior Oil and Gas Index, which is comprised currently
of 48 constituents, is calculated by Standard & Poor's and can be
tracked live on Thomson ONE under the ticker symbol "MPO/Y-CM", Reuters
under the ticker symbol ".GMPOG" and on Bloomberg under the ticker
"This is the first time GMP Securities has been involved in the creation
of an index. We believe the Canadian junior oil and gas sector did not
have an appropriate real-time benchmark to track the relative
securities performance and accurately reflect some of the key
fundamental investment features of Canadian junior oil and gas
companies," said Wade Felesky, Managing Director, Investment Banking,
GMP Securities. Commenting further, Mr. Felesky said, "This index was
developed with the application of our extensive market knowledge and
in-depth industry research, which we believe will set it apart as the
benchmark of choice in the Canadian junior oil and gas sector.
Launching the GMP Junior Oil and Gas Index is a logical extension of
GMP's core strength and further advances our brand as a recognized
leader in the North American resource sector."
Index constituents have been quantitatively selected and are
float-adjusted, market capitalization weighted, with the relative
weight of any single index constituent being capped at 10%. The market
capitalization of index constituents ranges from $100 million to $3
billion. The GMP Junior Oil and Gas Index will be rebalanced quarterly.
Management believes the Index represents an efficient way to gain
exposure to and track the performance of Canadian small to
mid-capitalization oil and gas companies.
The top ten constituents by weight are listed below as at January 31,
Progress Energy Resources Corp.
Blackpearl Resources Inc.
Bankers Petroleum Ltd.
Legacy Oil + Gas Inc.
Petrobakken Energy Ltd.
Crew Energy Inc.
Birchcliff Energy Ltd.
Celtic Exploration Ltd.
Advantage Oil & Gas Ltd.
Ivanhoe Energy Inc.
Concurrent with the launch of the GMP Junior Oil and Gas Index, GMP
Securities is also pleased to also announce that it has entered into
exclusive licensing discussions with BetaPro Management Inc.
("BetaPro") to use the GMP Junior Oil and Gas Index in an exchange
traded fund offering. BetaPro has filed a preliminary prospectus in
respect to the initial public offering of Class A units of the Horizons
BetaPro GMP Junior Oil and Gas Index ETF (the "ETF"). The ETF's
investment objectives are to seek to replicate, to the extent possible,
the performance of the GMP Junior Oil and Gas Index, net of expenses.
Further information about the GMP Junior Oil and Gas Index can be found
on GMP Securities' website at www.gmpsecurities.com.
Exposure to an asset class is available through investable instruments
based on an index. It is not possible to invest directly in an index.
GMP does not sponsor, endorse, sell, promote or manage any investment
fund or other vehicle that is offered by third parties and that seek to
provide an investment return based on the returns of this Index.
ABOUT GMP CAPITAL INC.
GMP Capital Inc. carries on business through the following principal
entities: GMP Securities L.P., Griffiths McBurney Corp., GMP Securities
Europe LLP, EdgeStone Capital Partners, L.P. and GMP Investment
Management L.P. GMP Capital Inc. also has a significant non-controlling
ownership interest in Richardson GMP Limited. The GMP Capital Inc.
website is located at gmpcapital.com. GMP Capital Inc. has offices in
Toronto, Calgary, Montreal and London, England. GMP Securities L.P. is
a leading independent Canadian investment dealer focused on investment
banking and institutional equities for corporate clients and
institutional investors. GMP Securities L.P. can be found on the web at
gmpsecurities.com. Griffiths McBurney Corp. services institutional
clients in the United States while GMP Securities Europe LLP provides
investment banking and institutional equity services to clients located
in Europe. EdgeStone Capital Partners, L.P. is a leading private equity
firm, providing capital, strategic direction and business and financial
advice to help promising mid-market and early stage companies achieve
their full potential. EdgeStone Capital Partners, L.P. can be found on
the web at edgestone.com. GMP Investment Management L.P., through its
private funds, seeks to generate superior riskadjusted investment
returns over the long term by executing selected investment strategies.
GMP Investment Management L.P.'s offerings are aimed at both
high-net-worth individuals and institutional investors. GMP Investment
Management L.P. can be found on the web at gmpim.com. Richardson GMP
Limited is a full-service investment firm, combining tradition and
innovation to offer Canadian families and entrepreneurs access to
innovative wealth management and investment services delivered by an
experienced team of independent investment professionals. Richardson
GMP Limited can be found on the web at richardsongmp.com.
GMP Junior Oil and Gas Index (the "Index") is the exclusive property of
GMP Securities, which has contracted with Standard & Poor's Financial
Services LLC ("S&P") to maintain and calculate the Index. Standard &
Poor's® and S&P® are registered trademarks of Standard & Poor's
Financial Services LLC "Calculated by S&P Custom Indices" and its
related stylized mark(s) are service marks of Standard & Poor's
Financial Services LLC and have been licensed for use by GMP
Securities. S&P and its affiliates shall have no liability for any
errors or omissions in calculating the Index.
This press release contains "forward-looking statements" as defined
under applicable Canadian securities laws including such
forward-looking concerning anticipated future events, results,
circumstances, performance or expectations that are not historical
facts but instead represent management's beliefs, expectations,
estimates and projections regarding future events, many of which, by
their nature, are inherently uncertain and beyond our control. These
statements include, but are not limited to, statements made with
respect to management's beliefs, plans, estimates, and intentions, and
similar statements concerning anticipated future events, results,
circumstances, performance or expectations that are not historical
facts. Forward-looking statements generally can be identified by the
use of forward-looking terminology such as "outlook", "objective",
"may", "will", "expect", "intend", "estimate", "anticipate", "believe",
"should", "plans" or "continue", or similar expressions suggesting
future outcomes or events. Such forward-looking statements reflect
management's current beliefs and are based on information currently
available to management.
These statements are not guarantees of future performance and are
subject to numerous risks and uncertainties, including those described
in this press release. GMP's primary business activities are both
competitive and subject to various risks. These risks include market,
credit, liquidity, operational and legal and regulatory risks and other
risk factors including, without limitation, variations in the market
value of securities, the volatility and liquidity of equity trading
markets, the volume of new financings and mergers and acquisitions,
competition in the marketplace for suitable investments, sustainability
of fees, nature and type of portfolio company investments, ability to
realize carried interest entitlements and dependence on key personnel.
Other factors, such as general economic conditions, including exchange
rate fluctuations, may also have an effect on GMP's results of
operations. Many of these risks and uncertainties can affect our actual
results and could cause our actual results to differ materially from
those expressed or implied in any forward-looking statement made by us
or on our behalf. For a description of risks that could cause our
actual results to materially differ from our current expectations,
please see the "Risk Management" section in GMP's 2009 Annual MD&A and
"Risk Factors" in GMP's annual information form dated March 1, 2010.
Material assumptions or factors underlying the forward-looking
statements contained in this press release are set out in the "Business
Environment and Market Outlook" section in the 2009 Annual MD&A, as
updated in GMP's Management's Discussion and Analysis for the three and
nine months ended September 30, 2010 and include, without limitation, a
slow-down in global economic growth rates from earlier this year; low
inflation; expectations of additional quantitative easing by some major
central banks; increased public offering, M&A and securities trading
activity influenced by a rally in the market during late third quarter
2010; continued United States dollar weakness; and the implementation
of fiscal and monetary measures to address sovereign debt concerns in
Europe. Although forward-looking information contained in this press
release is based upon what management believes are reasonable
assumptions, there can be no assurance that actual results will be
consistent with these forward-looking statements. Certain statements
included in this press release may be considered a "financial outlook"
for purposes of applicable Canadian securities laws, and as such the
financial outlook may not be appropriate for purposes other than this
press release. The forward-looking statements contained in this press
release are made as of the date of this press release, and should not
be relied upon as representing GMP's views as of any date subsequent to
the date of this press release.
SOURCE GMP Capital Inc.
For further information:
GMP Capital Inc.
Rocco Colella, Director, Investor Relations
145 King Street West, Suite 300, Toronto, Ontario M5H 1J8
Tel: (416) 941-0894; Fax: (416) 943-6175
firstname.lastname@example.org or email@example.com