Horizons AlphaPro Fiera Tactical Bond Fund Announces Conversion into ETF

TORONTO, Dec. 15 /CNW/ - AlphaPro Management Inc. ("AlphaPro") is pleased to announce that the Horizons AlphaPro Fiera Tactical Bond Fund (the "Fund") will convert into an open-end exchange traded fund and be renamed the Horizons AlphaPro Tactical Bond ETF (the "ETF") after the close of business on December 31, 2010 (the "Conversion"). Upon completion of the Conversion, the Class E units of the ETF (the "Class E Units") will begin trading on the Toronto Stock Exchange on January 4, 2011, under the symbol HAF.

The Fund's Class A units and Class F units were designed to convert into Class E units of an exchange traded fund at ratios based on the relative net asset values of each.  The Class A units of the Fund will convert into Class E Units on a one-for-one (1:1) basis. The Fund's Class F units will convert into Class E Units at a ratio to be determined by the respective net asset values of the Class A units of the Fund and Class F units of the Fund as at the close of business on December 31, 2010. 

The ETF's investment objectives are to provide the holders of Class E Units with: (i) a stable stream of tax efficient monthly distributions; and (ii) the opportunity for capital appreciation through exposure to a tactical asset allocation strategy that focuses on the returns of fixed income securities. 

The ETF will seek to achieve its investment objectives through exposure to the actively managed investment portfolio of the Tactical Global Bond ETF Fund (the "Portfolio") consisting primarily of ETFs, including inverse ETFs, that provide exposure to global fixed income markets, including government treasury securities, corporate bonds and high yield debt securities.

AlphaPro is the manager and trustee of the ETF, and its affiliate JovInvestment Management Inc., the investment manager of the ETF, is responsible for implementing the ETF's investment strategies and engaging the services of Fiera Sceptre Inc. to act as sub-advisor to the Portfolio.

About AlphaPro Management Inc. (www.HAPETFs.com)
AlphaPro is an innovative financial services company specializing in actively managed exchange traded funds with assets under management of approximately $490 million as of November 30, 2010. AlphaPro is a subsidiary of BetaPro Management Inc. ("BetaPro"). BetaPro is Canada's largest provider of single, inverse, leveraged, inverse leveraged and spread ETFs. BetaPro manages approximately $2.4 billion in assets as of November 30, 2010. BetaPro is a subsidiary of Jovian Capital Corporation (JOV:TSX).

SOURCE AlphaPro Management Inc.

For further information: For further information:

Martin Fabregas, Investor Relations, (416) 601-2508

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