TORONTO, July 16 /CNW/ - BetaPro Management Inc. ("BetaPro"), the trustee and manager of the Horizons BetaPro S&P Agribusiness North America(TM) Bull Plus ETF and the Horizons BetaPro S&P Agribusiness North America(TM) Bear Plus ETF (the "ETFs"), announced today that it will be terminating the ETFs effective close of business on Friday August 20, 2010.
Effective today, no further direct subscriptions for units of the ETFs will be accepted. Monday August 16, 2010, is expected to be the last date on which a redemption request may be placed with BetaPro, and the ETFs are expected to be de-listed from the TSX, at the request of BetaPro, at the close of business on or about August 17, 2010, with all units still held by investors being subject to a mandatory redemption as of August 20, 2010, the target termination date.
For further information visit www.HBPETFs.com
About BetaPro Management Inc. (www.HBPETFs.com)
Horizons BetaPro Exchange Traded Funds (the "Horizons BetaPro ETFs") 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: Bull+/Bear+ leveraged ETFs, single ETFs, single inverse ETFs and spread ETFs. Each Horizons BetaPro ETF is designed to provide daily investment results, before all fees, expenses and costs, that correspond to either: (i) a multiple or inverse multiple (opposite) of the daily performance of a specified underlying index or benchmark; (ii) the performance or inverse (opposite) daily performance of a specified underlying index or benchmark; or (iii) the sum of the daily performance of a specified underlying index or benchmark and the single inverse (opposite) daily performance of a second specified underlying index or benchmark. BetaPro is a subsidiary of Jovian Capital Corporation and currently manages approximately $2.4 billion amongst 45 ETFs as of June 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., Hahn Investment Stewards & Company 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 $11.5 billion of client assets ($6.5 billion in assets under management and $5.0 billion in assets under administration). Additional information is available at www.sedar.com.
SOURCE BetaPro Management Inc.
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