TORONTO, Jan. 6 /CNW/ - BetaPro Management Inc. ("BetaPro"), the trustee
and manager of the Horizons BetaPro Exchange Traded Funds (the "HBP ETFs"),
announced today that there were no capital gains distributions paid on any of
the ETFs for the 2008 calendar year.
Each of the HBP ETFs is required to distribute any net income and capital
gains that it has earned in the year. After consideration of the applicable
capital gains refund mechanism allowances and other tax considerations, none
of the HBP ETFs were in a position to require such distributions.
"As we anticipated, all 28 of the HBP ETFs had no capital gains
distributions, allowing us to continue to deliver tax efficiency to our
investors, one of the main advantages of ETFs," said Howard Atkinson,
President of BetaPro Management Inc. "This is the second consecutive year that
we posted zero capital gains distributions across our entire family of ETFs."
For further information visit www.HBPETFs.com
About BetaPro Management Inc. (www.HBPETFs.com)
Horizons BetaPro Exchange Traded Funds are managed by BetaPro Management
Inc., Canada's sole provider of investment tools allowing investors to profit
when the market is rising or falling, or to reduce their risk by hedging their
existing market exposure. BetaPro is a subsidiary of Jovian Capital
Corporation and currently manages approximately $1.9 billion amongst 28 ETFs.
About Jovian Capital Corporation (www.joviancapital.com)
Jovian acquires, creates and grows financial services companies
specializing in wealth and asset management. The Jovian group of companies
(MGI Securities Inc., MGI Securities (USA) Inc., MGI Financial Inc., BetaPro
Management Inc., Horizons Funds Inc., JovFunds Management Inc., JovFunds Inc.,
JovInvestment Management Inc., Leon Frazer & Associates Inc., T.E. Wealth and
Felcom Data Services Inc.) manages $12.0 billion of client assets ($5.0
billion in assets under management and $7.0 billion in assets under
administration). Additional information is available at www.joviancapital.com
For further information:
For further information: Howard Atkinson, President, BetaPro Management
Inc., (416) 777-5167; or Don Sangster, Investor Relations, Jovian Capital
Corporation, (416) 933-5744