Advisors have become increasingly optimistic on equities, energy stocks and the loonie
TORONTO, Jan. 12 /CNW/ - BetaPro Management Inc. ("BetaPro") has released the results of its Q1 2010 Advisor Sentiment Survey. Advisors remain bullish on their outlook for broader equity markets, the Canadian dollar and commodities, while remaining cautious on U.S. longer dated bonds.
"Given that last quarter our respondents correctly called the direction of 12 out of 15 indices - an 80% success rate - their outlook is worth noting," said Howard J. Atkinson, President of BetaPro. "This quarter they are more bullish on the broader Canadian market than on commodities or a specific sector, the first time this has occurred since we started tracking advisor sentiment."
The results of the survey, completed between December 17 and December 31 by over 350 advisors representing approximately $25 billion in assets under management, revealed that 70% of advisors are bullish on the S&P/TSX 60 Index(TM) for the first quarter, while natural gas has received the highest rating for commodities, with 59% of advisors surveyed being bullish. In comparison, advisors are more optimistic on energy stocks than on the underlying commodities, with 69% bullish on the S&P/TSX Energy Index(TM). They also see continued strength in the Canadian dollar versus the greenback (60% bullish), as commodity strength and Canada's relatively healthy economy provides ongoing support. By contrast, respondents are increasingly bearish on the U.S. 30-Year Bond, with 52% expecting bond prices to decline.
BetaPro is the largest exchange traded fund ("ETF") provider by number (38 ETFs) and the Horizons BetaPro ETFs are the most frequently traded ETFs by share volume in Canada. BetaPro assets have grown by 539% in 2007, by over 225% in 2008 and 26% in 2009. Horizons BetaPro ETFs are a unique series of investment tools which allow investors to profit or protect in bull and bear markets with exposure to 15 key equity, bond, currency, and commodity benchmarks. BetaPro, the manager of the Horizons BetaPro ETFs, is the sole provider of leveraged, inverse-leveraged and single inverse ETFs in Canada and the world's first provider of leveraged, inverse-leveraged and single inverse commodity ETFs.
About the Sentiment Survey
BetaPro conducts the only quarterly sentiment survey of Canadian investment advisors. The survey quantitatively measures advisors' quarterly outlook as it relates to 15 key benchmarks covering equities, bonds, currency and commodities. Full survey results are available at http://www.HBPETFs.com/sentimentSurvey.asp.
About BetaPro Management Inc.
Horizons BetaPro Exchange Traded Funds ("HBP 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. Horizons BetaPro ETFs offer three types of structures: Bull+/Bear+ leveraged ETFs, single ETFs, and single inverse ETFs. The HBP Bull+ ETFs and HBP Bear+ ETFs are designed to provide daily investment results, before fees and expenses, that correspond to double the daily performance, or double the inverse daily performance, respectively, of their specified underlying index or benchmark. The HBP Inverse ETFs are designed to provide daily investment results, before fees and expenses, that correspond to the one times the inverse of their specified underlying index or benchmark. The HBP Single ETFs are designed to provide investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to the performance of their specified underlying index.
BetaPro is a subsidiary of Jovian Capital Corporation (JOV:TSX) and manages, as of December 31, 2009, approximately $2.5 billion amongst 38 ETFs.
SOURCE Horizons BetaPro ETFs
For further information: For further information: Howard Atkinson, CFA, CIMA, ICD.D, President, BetaPro Management Inc., (416) 777-5167, email@example.com; Michael Gotzmanis, Fleishman-Hillard Canada, (416) 598-5788, firstname.lastname@example.org