TORONTO, May 7 /CNW/ - AlphaPro Management Inc. ("AlphaPro") is pleased
to announce that it has filed a preliminary prospectus in respect of an
initial public offering of Class A and Class F Units of the Horizons AlphaPro
Fiera Tactical Bond Fund (the "Fund").
The Fund's investment objectives are to provide investors with a stable
stream of tax efficient monthly distributions and the opportunity for capital
appreciation through exposure to the proprietary tactical asset allocation
strategies of Fiera Capital Inc. ("Fiera"), one of the largest independent
money managers in Canada.
The Fund was designed to provide exposure to a strategy of seeking to
optimize tactical asset allocation among fixed income asset classes. This
purpose is based upon the principle that proper asset allocation, as opposed
to security selection, has been shown to have a significant impact on a
portfolio's return. Fiera's tactical asset allocation offers an opportunity to
achieve consistent income while providing positive returns through different
market cycles and trends.
The Fund will seek to achieve its investment objectives through exposure
to an actively managed portfolio consisting primarily of exchange-traded funds
("ETFs"), including inverse ETFs, that provide exposure to global fixed income
markets, including government treasury securities, corporate bonds and high
yield debt securities. Fiera will analyze and select from a universe of more
than 80 global fixed income ETFs in order to assemble and manage the
portfolio. By investing primarily in ETFs, Fiera will seek to provide
investment diversification which reduces the single issuer risk typically
associated with a traditional fixed income portfolio on a cost-effective
The Fund is expected to automatically convert into an actively managed
ETF after June 30, 2010 and, in any event, no later than December 31, 2010.
AlphaPro will be the manager and trustee of the Fund and its affiliate
JovInvestment Management Inc. will be the investment manager of the Fund,
responsible for implementing the investment strategy of the Fund.
JovInvestment will also engage the services of Fiera.
The syndicate of agents for the offerings is being led by BMO Nesbitt
Burns Inc. and CIBC World Markets Inc. and includes National Bank Financial
Inc., HSBC Securities (Canada) Inc., Desjardins Securities Inc., Canaccord
Capital Corporation, Dundee Securities Corporation, Raymond James Ltd.,
Wellington West Capital Markets Inc., Blackmont Capital Inc., Laurentian Bank
Securities Inc., MGI Securities Inc. and Research Capital Corporation.
About AlphaPro Management Inc.
AlphaPro, the manager and the trustee of the Horizons AlphaPro ETFs, is
an innovative financial services company specializing in actively managed
ETFs. AlphaPro is a subsidiary of BetaPro Management Inc. ("BetaPro"). BetaPro
is Canada's largest provider of leveraged, inverse leveraged and inverse ETFs.
BetaPro managed over $1.9 billion in assets in the Horizons BetaPro ETFs as at
March 31, 2009. BetaPro is a subsidiary of Jovian Capital Corporation
("Jovian"), a publicly-traded company listed on the Toronto Stock Exchange
(TSX symbol - "JOV"). Jovian is a management and holding company with
interests in a variety of financial service firms specializing in wealth and
asset management. The Jovian group of companies is a national financial
services organization with approximately $12.0 billion of client assets ($6.5
billion in assets under management and $5.5 billion in assets under
administration) as at March 31, 2009.
About Fiera Capital Inc.
Founded in 2003, Fiera is one of the largest independent money managers
in Canada with approximately $17.6 billion in assets under management as at
March 31, 2009. Fiera has depth and expertise in both fixed income management
(approximately $12 billion in assets under management) and tactical asset
allocation (approximately $1.8 billion in assets under management in specialty
asset allocation mandates and a further approximately $3.8 billion in
diversified balanced mandates that include an asset allocation component).
A preliminary prospectus containing important information relating to
these securities has been filed with securities commissions or similar
authorities in all provinces and territories of Canada. The preliminary
prospectus is still subject to completion or amendment. Copies of the
preliminary prospectus may be obtained from your IIROC registered financial
advisor. There will not be any sale or any acceptance of an offer to buy the
securities until a receipt for the final prospectus has been issued.
For further information:
For further information: Howard Atkinson, President, AlphaPro Management
Inc., at (416) 777-5167 or 1-866-641-5739 or visit www.HAPETFs.com