TORONTO, Dec. 7 /CNW/ - BetaPro Management Inc. ("BetaPro"), the trustee and manager of the Horizons BetaPro Exchange Traded Funds (the "ETFs") announced today that it anticipates that there will be no capital gains distributions paid on any of the ETFs for the current calendar year.
Each of the ETFs are required to distribute any net income and capital gains that they have earned in the year, however, after consideration of the applicable capital gains refund mechanism allowances and other tax considerations, BetaPro expects that none of the ETFs will be in a position to require such distributions.
"We anticipate that for a third consecutive year that we will have achieved no capital gains distributions across our entire ETF family." said Howard Atkinson, President of BetaPro Management Inc. "We are extremely pleased that our exchange traded funds continue to deliver tax efficiency, a hallmark of ETFs, to investors."
Final distribution rates, if any, will be announced the first week in January 2010.
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 $2.6 billion amongst 38 ETFs as of November 30, 2009.
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 approximately $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.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Additional information relating to Jovian is available at www.sedar.com and www.joviancapital.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