TORONTO, June 23 /CNW/ - Jovian Capital Corporation ("Jovian") (JOV:TSX) and its subsidiary BetaPro Management Inc. ("BetaPro"), the manager of the Horizons BetaPro exchange traded funds ("ETFs"), are pleased to announce the listing of North America's first two-times leveraged and two-times inverse leveraged ETFs that offer exposure to the daily price performance of copper futures contracts (each a "Copper ETF"). The Copper ETFs will begin trading on the Toronto Stock Exchange today.
The Horizons BetaPro (HBP) COMEX(R) Copper Bull Plus ETF and the Horizons BetaPro (HBP) COMEX(R) Copper Bear Plus ETF will offer investors two different ways to attempt to profit from market changes in copper futures contracts. They are the only ETFs in North America with returns exposed solely to copper futures contracts.
The ticker symbols for the Copper ETFs are:
Horizons BetaPro COMEX(R) Copper Bull Plus ETF HKU:TSX
Horizons BetaPro COMEX(R) Copper Bear Plus ETF HKD:TSX
"Often referred to as 'the metal with a PhD in Economics', investment interest in copper as an asset class has grown rapidly over the last decade as investors became more familiar with its crucial role in global electronics manufacturing and urban development," said Howard Atkinson, President of BetaPro. "Of course, the huge increase in global electronics manufacturing and industrialization in emerging markets has dramatically increased the use of copper worldwide."
Mr. Atkinson pointed out that outside of going directly to the futures markets, the only way investors can get access to copper through an ETF is indirectly through ETFs that track base metal equities.
"In our view, these new ETFs are the most direct and efficient way to invest in copper, whether you're bullish or bearish on the direction of the commodity," Mr. Atkinson said.
The HBP COMEX(R) Copper Bull+ ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to two times (200%) the daily performance of the COMEX(R) copper futures contract for a subsequent delivery month.
The HBP COMEX(R) Copper Bear+ ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to two times (200%) the inverse (opposite) of the daily performance of the COMEX(R) copper futures contract for a subsequent delivery month.
The Copper ETFs are denominated in Canadian dollars. Any U.S. dollar gains or losses as a result of a Copper ETF's investment will be hedged back to the Canadian dollar to the best of that Copper ETF's ability.
The Copper ETFs have closed the offering of their initial units and will begin trading on the Toronto Stock Exchange when it opens this morning.
Horizons BetaPro Bull Plus and Bear Plus Exchange Traded Funds ("HBP Plus ETFs") use leveraged investment techniques that magnify gains and losses and result in greater volatility in value. HBP Plus ETFs are subject to leverage risk, aggressive investment risk and price volatility risk, which are described in the respective HBP Plus ETF's prospectus. Each HBP Plus ETF seeks a return that is either 200% or -200% of the performance of a specified underlying index, commodity or benchmark (the "target") for a single day. Due to the compounding of daily returns, an HBP Plus ETF's returns over periods other than one day will likely differ in amount and possibly direction from the performance of the specified underlying target for the same period. Investors should monitor their holdings, as frequently as daily, to ensure that they remain consistent with their investment strategies. Commissions, management fees and expenses all may be associated with HBP Plus ETFs. HBP Plus ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus before investing.
About BetaPro Management Inc.
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 endeavour to 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) of a second specified underlying index or benchmark.
BetaPro is a subsidiary of Jovian Capital Corporation and currently has assets under management of approximately $2.4 billion amongst 45 ETFs.
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 $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 Jovian Capital Corporation
For further information: For further information: Philip Armstrong, Chief Executive Officer, Jovian Capital Corporation, (416) 933-5752; Don Sangster, Investor Relations, Jovian Capital Corporation, (416) 933-5744; or Howard Atkinson, President, BetaPro Management Inc., (416) 777-5167