TORONTO, Dec. 10 /CNW/ - BetaPro Management Inc. ("BetaPro"), the trustee and manager of the Horizons BetaPro Exchange Traded
Funds (the "ETFs"), announced today that it anticipates that there will be no
distributions paid on any of the ETFs for the current calendar year.
Each of the ETFs are required to distribute any net income and capital
gains that they have earned in the year, however, after consideration
of the applicable capital gains refund mechanism allowances and other
tax considerations, BetaPro expects that none of the ETFs will be in a
position to require such distributions.
"We anticipate that, for a fourth consecutive year, we will have achieved
no capital gains distributions across our entire ETF family," said Howard Atkinson, President of BetaPro. "We are extremely pleased that our exchange traded funds continue to
deliver tax efficiency, a hallmark of ETFs, to investors."
Final distribution rates, if any, will be announced the first week of
For further information visit www.HBPETFs.com
About BetaPro Management Inc. (www.HBPETFs.com)
Horizons BetaPro Exchange Traded Funds are managed by BetaPro Management
Inc., Canada's sole provider of investment tools allowing investors to
profit when the market is rising or falling, or to reduce their risk by
hedging their existing market exposure. The Horizons BetaPro ETFs offer
several types of structures: single, inverse, leveraged and spread
ETFs. BetaPro is a subsidiary of Jovian Capital Corporation and
currently has assets under management of approximately $2.4 billion
amongst 45 ETFs as of November 30, 2010.
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 (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 $12.5 billion of client assets ($7.5
billion in assets under management and $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: For further information:
Howard Atkinson, President, BetaPro Management Inc., (416) 777-5167; or
Martin Fabregas, Sr. Vice President - Sales Operations, Horizons Exchange Traded Funds Inc., (416) 601-2508.