TORONTO, April 2, 2012 /CNW/ - Jovian Capital Corporation ("Jovian") (JOV: TSX) is pleased to announce that, through its wholly-owned subsidiary Jovian Asset Management Inc., it has acquired an additional 20% equity interest in Hahn Investment Stewards & Company Inc. ("HAHN"). HAHN builds and manages globally-diversified portfolios for its clients using exchange-traded funds ("ETFs"), and is recognized as an innovator in the investment management industry.
This acquisition has been completed through a combination of purchase of existing shares and issuance of new shares from treasury, and brings Jovian's total interest to 70% of HAHN's issued and outstanding voting shares, on a fully-diluted basis. The management, directors and employees at HAHN remain unchanged.
"We have been very pleased with the growth of HAHN since our initial investment in July of 2009 and remain fully committed to the fast-growing managed ETF portfolio space," said Philip Armstrong, C.E.O. of Jovian. "We feel that the time is right to increase our stake in HAHN and help it to continue to achieve its enormous growth potential in North America," added Mr. Armstrong.
Davee Gunn, President and C.E.O. of HAHN, said, "Our partnership with Jovian has been instrumental to our growth. The support of Jovian management has allowed us to concentrate on expanding our reach across Canada, and Jovian's additional resources will now allow us to take next steps in the development and advancement of HAHN across North America."
"We believe that our managed ETF Portfolios are revolutionizing portfolio management for investors," said Tyler Mordy, Director of Research for HAHN. "We are excited about HAHN's prospects for growth and opportunities ahead, and this transaction will help us to capture those opportunities," added Mr. Mordy.
Founded by Wilfred Hahn in 2001, HAHN has one of the longest track records in using ETFs to deliver investment returns to its clients, utilizing a disciplined, cost-effective, global macro approach to managing money.
About Jovian Capital Corporation
Jovian acquires, creates and grows financial services companies specializing in two primary market segments: wealth management and traditional asset managers. The Jovian group of companies (MGI Securities Inc., MGI Securities (USA) Inc., T.E. Wealth, Leon Frazer & Associates Inc., Hahn Investment Stewards & Company Inc., JovFinancial Solutions Inc. and JovPortfolio Management Inc.) manages approximately $6.3 billion of client assets ($4.9 billion in assets under management and $1.4 billion in assets under administration). Additional information is available at www.joviancapital.com and www.sedar.com.
For further information:
Don Sangster, Investor Relations, Jovian Capital Corporation, (416) 933-5744; or
Philip Armstrong, Chief Executive Officer, Jovian Capital Corporation, (416) 933-5752.