TORONTO, Aug. 11 /CNW/ - JovFunds Management Inc., the manager of the Jov
BetaPro Short-Term Income Fund (the "Fund"), held a special meeting of the
unitholders of the Fund on August 11, 2008. Unitholders of the Fund approved a
proposal to amend the investment objectives of the Fund. It is expected that,
subject to regulatory approval, the investment objective of the Fund will be
The objective of this Fund is to provide investors with income and
potential capital growth through direct or indirect exposure to a
portfolio of primarily fixed income securities including high quality
debt instruments issued by governments, governmental agencies,
municipalities and companies with a minimum credit rating of BBB (S&P)
and the units of bond index exchange traded funds (including those that
issue index participation units).
As part of this change in investment objective, the name of the Fund will
be changed to the "Jov Bond Fund". JovInvestment Management Inc. and Leon
Frazer & Associates Inc. will continue to be the portfolio adviser and
portfolio sub-adviser, respectively, of the Fund.
"The Fund's portfolio has been restructured to gain exposure to bonds
with longer maturity terms and higher yields," said Adam Felesky, Chief
Executive Officer of JovFunds Management Inc. "This proposal is part of our
commitment to strengthen our product lineup and deliver innovative investment
solutions to investment professionals and their clients."
About JovFunds Management Inc. (www.jovfunds.com)
JovFunds provides innovative investment solutions for Canadians through
the creation, distribution and management of high quality investment products.
JovFunds manages and distributes in excess of $2.5 billion in client assets
and is wholly owned by Jovian Capital Corporation.
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
(MGI Securities Inc., MGI Securities (USA) Inc., Rice Financial Group Inc.,
BetaPro Management Inc., Horizons Funds Inc., JovFunds Management Inc.,
JovFunds Inc., JovInvestment Management Inc., Leon Frazer & Associates Inc.,
T.E. Wealth and Felcom Data Services Inc.) manages $16.0 billion of client
assets ($6.5 billion in assets under management and $9.5 billion in assets
under administration). Additional information is available at
www.joviancapital.com and www.sedar.com
For further information:
For further information: Don Sangster, Investor Relations, Jovian
Capital Corporation, (416) 933-5744; or Steven Hawkins, Managing Partner,
JovFunds Management Inc., (416) 601-2442