TORONTO, June 17 /CNW/ - Jovian Capital Corporation ("Jovian") (TSX: JOV.TO) and its related company BetaPro Management Inc. ("BetaPro") are pleased to announce that the Horizons BetaPro family of funds have reached $1.5 billion in assets under management. In addition, the Horizons BetaPro exchange-traded funds ("ETFs") were the most highly traded ETFs on the Toronto Stock Exchange last month, for the third consecutive month, accounting for over 150 million shares traded or nearly 57% of all ETFs trading by volume on the TSX for the month of May. ETFs are enjoying increasing popularity globally and are expected to show exponential growth over the next five years.
"These are important milestones in the growth of BetaPro. ETFs are now in significant use by both institutional and private investors, and in a very short time BetaPro has become a significant provider of ETFs products in Canada," said Philip Armstrong, C.E.O. of Jovian. "The achievement of these milestones more than supports our decision to increase Jovian's stake in BetaPro to 60%, subject to necessary approvals being obtained," he added.
About BetaPro Management Inc. (www.hbpetfs.com)
BetaPro is an innovative Toronto-based financial services company that provides investment tools to investors which are designed to allow them to profit when the market is rising or falling, or to reduce their risk by hedging their existing market exposure. BetaPro currently manages approximately $1.5 billion amongst 18 ETFs and 15 mutual funds.
About Jovian Capital Corporation (www.joviancapital.com)
Jovian is a publicly-traded company listed on the TSX (JOV). 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 $15.0 billion of client assets ($5.8 billion in assets under management and $9.2 billion in assets under administration).
* Wealth management entities include MGI Securities Inc., MGI Securities (USA) Inc. and Rice Financial Group Inc. (xx) Asset management entities include BetaPro Management Inc., Horizons Funds Inc., JovFunds Management Inc., JovFunds Inc., JovInvestment Management Inc., Leon Frazer & Associates Inc. and T.E. Wealth. Financial corporate service entities include Felcom Data Services Inc.
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
Additional information relating to Jovian is available at www.sedar.com and www.joviancapital.com
ContactsDon SangsterInvestor Relations
Jovian Capital Corporation
(416) 933-5744 or Howard Atkinson
President
BetaPro Management Inc.
(416) 777-5167
535.02 (5.57%)
