Horizons Funds Inc. and JovInvestment Management Inc. to Merge

TORONTO, Feb. 1 /CNW/ - Horizons Funds Inc. ("Horizons"), the manager of the Horizons Global Contrarian Fund (the "Fund"), announced today that it intends to merge with JovInvestment Management Inc. ("JovInvestment").

In order to gain further cost and operational efficiencies, Horizons intends to amalgamate with its affiliate JovInvestment, effective on March 30, 2011 (the "Effective Date").

This amalgamation will result in JovInvestment becoming the manager of the Fund on or about the Effective Date. In this role, JovInvestment will assume all of the rights and responsibilities of Horizons for all administrative, legal, reporting and marketing functions for the Fund.

About Horizons Funds Inc. and JovInvestment Management Inc.
Horizons and JovInvestment are wholly-owned subsidiaries of Jovian Capital Corporation ("Jovian"). Currently, Horizons provides management services to the Fund and JovInvestment is the Fund's portfolio manager. JovInvestment provides investment advisory and administration services to a broad range of clients, including ETFs, public mutual funds, closed-end funds, hedge funds and principal protected notes. JovInvestment manages more than $4.1 billion in assets under management as at December 31, 2010.

About Jovian Capital Corporation (JOV:TSX)
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., Horizons Exchange Traded Funds Inc., Horizons 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 Horizons Global Contrarian Fund

For further information:

Martin Fabregas, Investor Relations, JovInvestment Management Inc. (416) 601-2508.

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Horizons Global Contrarian Fund

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