BetaPro Management Inc. Announces No Capital Gains Distributions for 2009

TORONTO, Dec. 23 /CNW/ - BetaPro Management Inc. ("BetaPro"), the trustee and manager of the Horizons BetaPro Exchange Traded Funds (the "HBP ETFs"), announced today that there are no capital gains distributions payable from any of the ETFs for the 2009 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 are in a position to require such distributions.

"As we anticipated, all 38 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 third 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.

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. Horizons BetaPro ETFs offer three types of structures: Bull+/Bear+ leveraged ETFs, single ETFs, and single inverse ETFs. The HBP Bull+ ETFs and HBP Bear+ ETFs are designed to provide daily investment results, before fees and expenses, that correspond to double the daily performance, or double the inverse daily performance, respectively, of their specified underlying index or benchmark. The HBP Inverse ETFs are designed to provide daily investment results, before fees and expenses, that correspond to the one times the inverse of their specified underlying index or benchmark. The HPB Single ETFs are designed to provide investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to the performance of their specified underlying index.

BetaPro is a subsidiary of Jovian Capital Corporation (JOV:TSX) and manages, as of November 30, 2009, approximately $2.6 billion amongst 38 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 (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 $11.5 billion of client assets ($6.8 billion in assets under management and $4.7 billion in assets under administration). Additional information is available at www.joviancapital.com and www.sedar.com.

SOURCE BetaPro Management Inc.

For further information: For further information: Howard Atkinson, President, BetaPro Management Inc., (416) 777-5167; or Martin Fabregas, Sr. Vice President - Sales Operations, Horizons Exchange Traded Funds Inc., (416) 601-2508

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BetaPro Management Inc.

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Horizons BetaPro ETFs

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