TORONTO, Nov. 14, 2011 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs"), which recently changed its name from BetaPro Management Inc., is
pleased to announce that Mirae Asset Global Investments Co., Ltd. ("Mirae Asset") has today become the majority shareholder of Horizons ETFs.
Horizons ETFs, together with its subsidiaries AlphaPro Management Inc.
and Horizons Investment Management Inc., manages the Horizons family of
exchange traded funds ("ETFs"), the largest ETF family in Canada by number of funds with 75 ETFs
listed on the Toronto Stock Exchange and approximately $3.3 billion in
assets under management (as of October 31, 2011).
Mirae Asset acquired a majority stake in Horizons ETFs, including the
entire stake owned by Jovian Capital Corporation ("Jovian"), as announced on July 15, 2011. Through this purchase Mirae Asset has
also acquired Horizons ETFs' significant interest in BetaShares
Holdings Pty. Ltd., which is based in Australia.
Taeyong Lee, who leads Mirae Asset's global ETF business, will join
Horizons ETFs as Executive Chairman. Mr. Lee will also assume the newly
created role of Global Head of ETFs for Mirae Asset. In this new role,
Mr. Lee will split his time between Seoul and Toronto. Adam Felesky and
Howard Atkinson will continue as CEO and President, respectively, of
Mirae Asset, one of Asia's largest asset management firms by assets
under management, will capitalize on the regional expertise of Horizons
ETFs' management team to grow its global ETF business further.
"We welcome Horizons ETFs into the Mirae Asset family and are delighted
to offer our clients more diversified investment products and
solutions," said Hyeon-Joo Park, Chairman and Founder of Mirae Asset. "Our new partnership strengthens Mirae Asset's position as a global asset
management company, expands our product line and will serve our clients
across all regions."
"We want to thank Jovian for being an invaluable partner over the last
five years in the growth of our business. We wouldn't have achieved the
success we have today without their early support and mentorship," said Adam Felesky, CEO of Horizons ETFs. "We are very excited to now be part of Mirae Asset and look forward to
the global resources that Mirae Asset will provide as we continue to
expand our ETF business."
Howard Atkinson, President of Horizons ETFs, said "I want to stress that this acquisition really means business as usual for our Canadian investors. There are absolutely no organizational changes that impact the way we run
our ETFs. In fact, being part of the Mirae family makes us a stronger global
company, with the ability to further enhance the services and products
we provide. We feel strongly that investors can only benefit from this
new partnership going forward."
About Horizons ETFs Management (Canada) Inc. www.horizonsetfs.com
Horizons ETFs is an innovative financial services company which,
together with its subsidiaries AlphaPro Management Inc. and Horizons
Investment Management Inc., manages the Horizons ETFs family of ETFs.
The Horizons ETFs family includes 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.
Horizons ETFs is a member of the Mirae Asset Global Investment Group.
As of October 31, 2011, Horizons ETFs has approximately $3.3 billion in
assets under management.
About Mirae Asset Global Investments Co., Ltd. www.miraeasset.com
Mirae Asset Global Investments Co., Ltd. is the Korea-based asset
management entity of Mirae Asset Financial Group, one of the world's
largest investment managers in emerging market equities (source: Investment and Pensions Europe, February 2011). With over 650 employees including more than 125
dedicated investment professionals (as of September 30, 2011), Mirae
Asset Global Investments has a presence in Hong Kong, China, Korea,
India, Vietnam, Taiwan, Brazil, Korea, the United Kingdom and the
United States. Headquartered in Seoul, South Korea, the firm manages
over US$44 billion in assets globally as of September 30, 2011.
SOURCE Horizons Exchange Traded Funds
For further information:
For Horizons ETFs:
Howard Atkinson, President, Horizons ETFs at (416) 777-5167 or 1-866-641-5739
For Mirae Asset:
John McInerney at (212) 508-9628 or firstname.lastname@example.org
Priscilla Li at (212) 508-9659 or email@example.com