TORONTO, April 2 /CNW/ - Fairway Advisors Inc. ("Fairway"), which
oversees the management of several closed-end mutual fund trusts (the "Fairway
Funds"), is pleased to announce that Jovian Capital Corporation ("Jovian")
(JVN: TSX-V), through a wholly-owned subsidiary, has completed a transaction
in which it acquired the remaining 51% of the issued and outstanding Class "C"
Shares of JovFunds Management Inc. (formerly Fairway Asset Management Corp.)
("JovFunds"). JovFunds, through a subsidiary, owns the majority interest in
Fairway. As a result of this direct change of control of JovFunds, control of
Fairway is also changing. Fairway will continue to manage the Fairway Funds
under the existing management agreements.
About Jovian Capital Corporation
Jovian is a publicly-traded company listed on the TSX Venture Exchange.
Jovian is a management and holding company with interests in a variety of
financial service firms specializing in wealth(*) and asset(xx) management. The
Jovian group of companies operates as a national financial services
organization with approximately $13.5 billion of client assets ($4.9 billion
assets under management and $8.6 billion assets under administration).
JovFunds provides investment solutions for Canadian investors through the
creation, management and distribution of high quality investment products. As
a member of the Jovian group of companies, JovFunds oversees the management
and distribution of a diverse range of investment products and currently has
over $1 billion in client assets.
The Fairway Funds, managed by Fairway and affiliates, include: Fairway
Diversified Income and Growth Fund, Global Preferred Securities Trust, Fairway
Investment Grade Income Fund, Nuveen Senior Floating Rate Income Fund, Deans
Knight Income and Growth Fund, Long Reserve Life Resource Fund and
Charterhouse Preferred Share Index Corporation.
(*) Wealth management entities include Convoy Capital Corporation,
JovFunds Inc., MGI Securities Inc., MGI Securities (USA) Inc. and Rice
Financial Group Inc. (xx)Asset management entities include Accumulus
Management Ltd., BetaPro Management Inc., Charterhouse PSI Management
Corporation, DOCP Management Corp., Horizons Funds Inc., Jove Investment
Management Inc., JovFunds Management Inc., Jovian Asset Management Inc.,
Leon Frazer & Associates Inc., Pescara Partners Inc., Taliesin Capital
Inc., T.E. Wealth. Financial corporate service entities include Felcom
Data Services Inc. and Services Felcom Data (Quebec) Inc./Felcom Data
Services (Quebec) Inc.
For further information:
For further information: Don Sangster, Investor Relations, Jovian
Capital Corporation, (416) 933-5744; or Steve Hawkins, Managing Partner,
JovFunds Management Inc., 1-866-601-2440; or Please visit
www.joviancapital.com and www.fairwaycapital.com.