TORONTO, Feb. 23 /CNW/ - Jovian Capital Corporation ("Jovian") (JOV:TSX) and its subsidiary BetaPro Management Inc. ("BetaPro"), are pleased to announce the listing of the Horizons GMP® Junior Oil and Gas Index™ ETF (the "Horizons GMP® ETF"), an exchange traded fund ("ETF") which offers exposure to an index of Canadian-based junior energy
production companies. The Horizons GMP® ETF will track the recently launched GMP® Junior Oil and Gas Index™, which was developed by leading Canadian securities firm, GMP
Securities L.P. ("GMP Securities") and is administered by Standard and Poor's® ("S&P").
The Horizons GMP® ETF will begin trading on the Toronto Stock Exchange ("TSX") today under the ticker symbol HJE.
The Horizons GMP® ETF seeks to replicate, to the extent possible, the performance of the
GMP® Junior Oil and Gas Index™, net of expenses. The GMP® Junior Oil and Gas Index™ is designed to provide investors with an
investable index that tracks the performance of small to
mid-capitalization Canadian oil and gas exploration and production
companies that are listed on the TSX.
"The GMP® Junior Oil and Gas Index™ is the first niche index created by GMP Securities and we're very
excited to be the first ETF provider to offer an investible ETF that
tracks that underlying index. GMP Securities is a recognized leader in
the Canadian capital markets with historical strengths in the resources
sector and is consistently ranked as a top equity underwriter in Canada
and top financial advisor to the Canadian mid-market. The underlying
methodology of the index reflects what they believe is the best
representation of the Canadian junior oil and gas sector," said Howard Atkinson, President of Horizons Exchange Traded Funds Inc.
Wade Felesky, Managing Director, Investment Banking, GMP Securities,
commented that "Companies in the GMP® Junior Oil and Gas Index™ all have market capitalizations between CAN$100 million and CAN$3
billion and may provide a significantly higher risk/return profile than
those of the large capitalization energy companies with which Canadian
investors are probably more familiar."
"Many of today's familiar energy producer names were once junior
companies, so by investing in juniors now, one could potentially be
buying some of tomorrow's energy giants," Mr. Felesky said. "We believe that juniors generally have the potential to realize much
higher profit margins versus larger capitalization energy companies due
to the company-specific operational leverage, but do come with the
additional risks associated with smaller companies. The stock price
performances and relative valuations in this niche sector can be highly
influenced by the significant merger and acquisition activity levels in
the junior oil and gas industry."
The Horizons GMP® ETF has closed the initial offering of its units and will begin trading
on the TSX today, when the market opens this morning.
About BetaPro Management Inc. (www.betapro.ca)
BetaPro manages the Horizons BetaPro family of exchange traded funds, a
broadly diversified range of investment tools with solutions for
investors of all experience levels to meet their investment objectives
in a variety of market conditions. The Horizons BetaPro
ETFs include several types of structures: single, inverse, leveraged,
inverse leveraged and spread ETFs. BetaPro is a subsidiary of
Jovian, with assets under management ("AUM") of approximately $2.3 billion as of January 31, 2011, amongst 47 ETFs.
Its subsidiary, AlphaPro Management Inc., Canada's largest provider of
actively-managed ETFs, has approximately $560 million of AUM as of
January 31, 2011. Together under the Horizons ETFs brand, the two
companies offer more than 60 ETF solutions with almost
$2.9 billion of AUM as of January 31, 2011.
About Jovian Capital Corporation
Jovian acquires, creates and grows financial services companies
specializing in three primary market segments: wealth management,
traditional asset managers, and exchange traded fund asset managers.
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 $13.0
billion of client assets ($7.5 billion in assets under management and
$5.5 billion in assets under administration). Additional information
is available at www.joviancapital.com and www.sedar.com.
About GMP Securities L.P. (www.gmpsecurities.com)
GMP Securities L.P., one of the principal subsidiaries of GMP Capital
Inc. (GMP:TSX), is a leading independent Canadian investment dealer
built on a rich history of superior execution capabilities. With
offices located in Toronto, Calgary, Montreal and London, England, GMP
Securities L.P., together with Griffiths McBurney Corp. and GMP
Securities Europe LLP, provide investment banking, institutional
equities and equity research for corporate clients and institutional
investors located in Canada, the United States and in Europe. GMP
Securities L.P. can be found on the web at gmpsecurities.com.
Commissions, management fees and expenses all may be associated with
investments in the Horizons GMP® ETF. The Horizons GMP® ETF is not guaranteed, its values change frequently and past
performance may not be repeated. The GMP® Junior Oil and Gas Index (the "Index") is the exclusive property of GMP Securities, which has contracted
with S&P to maintain and calculate the Index. "GMP®" is a registered trademark of GMP Securities and has been licensed for
use by BetaPro. "Standard & Poor's®" is a registered trademark of S&P and has been licensed for use by GMP
Securities. The Horizons GMP® ETF is not sponsored, endorsed, sold, or promoted by GMP Securities or
S&P or their affiliated companies and none of these parties make any
representation, warranty or condition regarding the advisability of
buying, selling and holding units/shares of the Horizons GMP® ETF. S&P and its affiliates shall have no liability for any errors or
omissions in calculating the Index. Please read the prospectus before investing.
SOURCE Jovian Capital Corporation
For further information:
Don Sangster, Investor Relations, Jovian Capital Corporation, (416) 933-5744; or
Philip Armstrong, Chief Executive Officer, Jovian Capital Corporation, (416) 933-5752; or
Howard Atkinson, President, BetaPro Management Inc., (416) 777-5167