TORONTO, June 30 /CNW/ - Jovian Capital Corporation ("Jovian") (TSX: JOV)
and its subsidiary AlphaPro Management Inc. ("AlphaPro") are pleased to
announce that AlphaPro has filed a final prospectus in respect of an initial
public offering of Class A and Class F Units of the Horizons AlphaPro Fiera
Tactical Bond Fund (the "Fund").
The anticipated closing date of the offering is July 21, 2009. The Fund
is expected to automatically convert into an actively managed ETF on or after
June 30, 2010 and, in any event, no later than December 31, 2010.
The Fund has been created to provide investors with a stable stream of
tax efficient monthly distributions and the opportunity for capital
appreciation through exposure to the investment strategies of Fiera Capital
Inc. ("Fiera"), one of the largest independent money managers in Canada.
The net proceeds of the offering will be used to gain exposure to an
actively managed portfolio of exchange traded fund ("ETF") investments that
AlphaPro and Fiera's asset allocation team believe will provide the greatest
opportunity for generating stable risk-adjusted returns. This will occur
through exposure to global fixed-income markets, including government treasury
securities, corporate bonds and high yield debt securities. Using its
proprietary tactical asset allocation process, Fiera will seek to actively
manage the duration, credit exposure and risk in the portfolio through its
selection of investments from a universe of more than 80 global fixed-income
"The Horizons AlphaPro Fiera Tactical Bond Fund offers investors what we
believe to be the best of both worlds, in active and passive management," said
Howard Atkinson, President of AlphaPro. "This Fund combines exposure to the
expertise of one of the best fixed-income managers in Canada, Fiera Capital,
and the benefits of ETFs, including intraday liquidity, broad fixed-income
diversification and a lower cost than traditional mutual funds."
AlphaPro will be the manager and trustee of the Fund and its affiliate
JovInvestment Management Inc. ("JovInvestment") will be the investment manager
of the Fund, responsible for implementing the investment strategy of the Fund.
JovInvestment will also engage the services of Fiera.
The syndicate of agents for the offerings is being led by BMO Nesbitt
Burns Inc. and CIBC World Markets Inc. and includes National Bank Financial
Inc., HSBC Securities (Canada) Inc., Desjardins Securities Inc., Canaccord
Capital Corporation, Dundee Securities Corporation, Raymond James Ltd.,
Wellington West Capital Markets Inc., Blackmont Capital Inc., Laurentian Bank
Securities Inc., MGI Securities Inc. and Research Capital Corporation.
About Fiera Capital Inc.
Founded in 2003, Fiera is one of the largest independent money managers
in Canada with approximately $18.5 billion in assets under management as at
May 31, 2009. Fiera has depth and expertise in both fixed income management
(approximately $12.4 billion in assets under management) and tactical asset
allocation (approximately $2 billion in assets under management in specialty
asset allocation mandates and a further approximately $4.1 billion in
diversified balanced mandates that include an asset allocation component).
About AlphaPro Management Inc. (www.hapetfs.com)
AlphaPro Management Inc., the manager and the trustee of the Horizons
AlphaPro ETFs, ("AlphaPro"), is an innovative financial services company
specializing in actively managed ETFs. AlphaPro is a subsidiary of BetaPro
Management Inc. ("BetaPro"). BetaPro is Canada's largest provider of leveraged
and inverse leveraged ETFs. BetaPro manages over $2.4 billion in assets in the
BetaPro ETFs as at June 30, 2009. BetaPro is a subsidiary of Jovian Capital
About Jovian Capital Corporation
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 Funds Inc.,
JovFunds Inc., JovFunds Management Inc., JovInvestment Management Inc., Leon
Frazer & Associates Inc., MGI Financial Inc., MGI Securities Inc., MGI
Securities (USA) Inc., T.E. Wealth and Felcom Data Services Inc.) manages
approximately $12.0 billion of client assets ($6.0 billion in assets under
administration and $6.0 billion in assets under management). Additional
information is available at www.joviancapital.com and www.sedar.com.
For further information:
For further information: Howard Atkinson, President, AlphaPro Management
Inc., (416) 777-5167; or Don Sangster, Investor Relations, Jovian Capital
Corporation, (416) 933-5744; or Philip Armstrong, C.E.O., Jovian Capital
Corporation, (416) 933-5752