TORONTO, Jan. 18 /CNW/ - Jovian Capital Corporation ("Jovian") (JOV:TSX) and its subsidiary BetaPro Management Inc. ("BetaPro"), the manager of the Horizons BetaPro exchange traded funds ("ETFs"), are pleased to announce that, further to the announcement of March
1, 2010, BetaPro has completed a second equity investment in BetaShares
Holdings Pty Ltd. ("BetaShares Holdings"). BetaShares Holdings is a private Australian holding company whose
subsidiary, BetaShares Capital Limited ("BetaShares Capital"), offers ETFs on the Australian Securities Exchange.
The initial transaction completed by BetaPro in March 2010 provided for
BetaPro to increase its equity stake in BetaShares Holdings if certain
milestones were met by BetaShares Capital with regard to the listing of
its ETFs. BetaShares Capital recently announced the launch of two new
products on the Australian Securities Exchange, being:
BetaShares S&P/ASX 200 Financials Sector ETF (Synthetic) (ASX Code: QFN)
BetaShares S&P/ASX 200 Resources Sector ETF (Synthetic) (ASX Code: QRE)
As a result, through a subsidiary, BetaPro has increased its equity
ownership of BetaShares Holdings to approximately 30%. The initial
transaction also provides for BetaPro to increase its stake in
BetaShares Holdings to 40% if certain further milestones are met. In
addition, BetaPro holds options to acquire additional equity in
BetaShares Holdings over time.
Philip Armstrong, C.E.O. of Jovian said, "We are very pleased that BetaShares has now launched its first ETFs on
the Australian Exchange. BetaPro's increased investment in BetaShares
is another step toward Horizons BetaPro's goal of becoming a
substantial presence in the global ETFs business."
About BetaPro Management Inc. (www.betaproetfs.com)
BetaPro manages the Horizons BetaPro family of exchange traded funds
(the "Horizons BetaPro ETFs"), 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
and spread ETFs. BetaPro is a subsidiary of Jovian Capital Corporation
(JOV:TSX) with assets under management of approximately $2.6 billion as
of December 31, 2010, amongst 47 ETFs. Its subsidiary, AlphaPro
Management Inc., Canada's largest provider of actively managed ETFs,
has approximately $500 million of assets under management. Together
under the Horizons ETFs brand, the two companies have more
than $3.1 billion of assets under management as of December 31, 2010.
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.
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.