TORONTO, May 12 /CNW/ - Jovian Capital Corporation ("Jovian") (TSX: JOV) and its subsidiary BetaPro Management Inc. ("BetaPro"), the manager of the Horizons U.S. Dollar Currency ETF (the "U.S. Dollar ETF"), are pleased to announce the launch of a U.S. dollar denominated
Class A unit of the U.S. Dollar ETF (the "USD Unit"). The USD Units will begin trading on the Toronto Stock Exchange ("TSX") on May 12, 2011, under the symbol DLR.U. The Canadian dollar
denominated Class A unit of the U.S. Dollar ETF (the "CAD Unit") began trading on the TSX on April 7, 2011, under the symbol DLR.
The U.S. Dollar ETF (also known as "DLR") seeks to reflect the value of the U.S. dollar, reflected in Canadian
dollars, net of expenses, by investing primarily in cash and cash
equivalents. The USD Units are priced and transacted in U.S. dollars.
By offering the USD Units, investors now have a cost-effective method to
trade DLR in either Canadian or U.S. currency, with an option to redeem
their units in either currency.
"Investors who wish to make a foreign currency transaction can purchase
DLR in Canadian dollars and sell DLR.U for U.S. dollars proceeds. The
investor needs only to arrange with their broker that they would like
to have their DLR units sold as DLR.U units, or vice versa," according to Howard Atkinson, President of Horizons Exchange Traded
The ability to transact DLR as a CAD Unit or a USD Unit gives investors
the opportunity to access institutional currency conversion pricing for
DLR's annual management fee of only 0.45%.
"Using DLR and DLR.U could be a very cost effective way for many
Canadian investors to purchase U.S. dollars or convert their U.S.
dollars into Canadian dollars," said Mr. Atkinson.
Commissions, management fees and applicable sales taxes all may be
associated with an investment in the U.S. Dollar ETF. The U.S. Dollar
ETF is not guaranteed, its value changes frequently, and past
performance may not be repeated. Please read the prospectus before investing.
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.