(Canada) Horizons AlphaPro Launches Three New Actively Managed ETFs
Jovian Capital Corporation (“Jovian”) (JOV:TSX) and its subsidiary AlphaPro Management Inc. (“AlphaPro”) are pleased to announce the listing of three new actively managed exchange traded funds (“ETFs”) on the Toronto Stock Exchange.
The new ETFs and their ticker symbols are:
Horizons AlphaPro Dividend ETF HAL:TSX
Horizons AlphaPro North American Value ETF HAV:TSX Horizons AlphaPro North American Growth ETF HAW:TSX
The Horizons AlphaPro Dividend ETF will seek long-term total returns consisting of regular dividend income and modest long-term capital growth. This ETF invests primarily in equity securities of major North American companies with above-average dividend yields. Sub-advised by Leon Frazer & Associates Inc. (“Leon Frazer”), Lyle Stein, the CEO of Leon Frazer, will oversee the portfolio selection process for the ETF.
The Horizons AlphaPro North American Value ETF will seek long-term capital appreciation and income by investing in equity and equity-related securities of issuers located in North America. Vito Maida of Patient Capital Management Inc., the sub-advisor, will rely primarily on his distinct value investment style to identify companies for this ETF portfolio.
The Horizons AlphaPro North American Growth ETF will seek long-term capital growth by investing primarily in equity and equity-related securities of issuers located in North America. Stephen Rogers, Vice-President and Portfolio Manager with JovInvestment Management Inc. (“JovInvestment”), the ETF’s investment manager, will apply his flexible growth selection investment style to identify portfolio investments.
“ETFs have a lot more to offer than indexing,” says Ken McCord, President of AlphaPro. “Lyle, Vito and Steve all have brilliant track records as stock selectors. We’re taking their unique investment styles and wrapping them up in an ETF structure that allows investors to get exposure to active management with low management fees. Investors also receive the other benefits of using ETFs, which include the enhanced liquidity of trading on the Toronto Stock Exchange and greater portfolio transparency.”
AlphaPro is the manager and trustee of the three ETFs and its affiliate, JovInvestment, is the investment manager of each ETF. JovInvestment provides portfolio management services for each ETF and engages the sub-advisors, if any.
For more information please visit www.HAPETFs.com.
About Lyle Stein, CFA and CEO of Leon Frazer & Associates
As Chief Executive Officer of Leon Frazer & Associates Inc., Mr. Stein brings over 30 years of investment and management experience to the firm. Most recently he was founder and Chief Executive of financial services firm Red Barn Capital Inc. Previously he worked at a major Canadian investment counsellor where he managed a top-ranked mutual fund as well as pension assets. Mr. Stein holds the CFA designation and is a member of Toronto CFA Society.
About Vito Maida of Patient Capital Management Inc.
Vito Maida has been in the investment industry since 1987. Prior to founding Patient Capital Management Inc. he held portfolio management positions at Trimark Financial Corp., Hamblin Watsa Investment Counsel and the Ontario Municipal Employee Retirement System (OMERS). He has developed a reputation as a leading proponent of value investing in Canada. Vito received his MBA from the Richard Ivey School of Business and his BBA from Wilfred Laurier University. Vito holds the CFA designation and is a member of the Toronto CFA Society.
About Stephen Rogers of JovInvestment Management Inc.
Steve has over 25 years of experience in the investment funds industry, most recently guiding the Mavrix North American Growth Fund to first quartile performance among its U.S. equity peers. As a portfolio manager at AGF Management Ltd., Steve won numerous accolades including “Best U.S. Equity Fund” at the 1998 Canadian Mutual Fund Awards, and was named “U.S. Equity Manager of the Decade” by Gordon Pape in his Year 2000 “Guide to Mutual Funds”. He received an MBA and B. Comm from the University of Toronto.
About AlphaPro Management Inc. (www.HAPETFs.com)
AlphaPro is an innovative financial services company specializing in actively managed ETFs with assets under management of approximately $123 million as of January 31, 2010. AlphaPro is a subsidiary of BetaPro Management Inc. (“BetaPro”). BetaPro is Canada’s largest provider of leveraged, inverse leveraged and inverse ETFs. BetaPro manages approximately $2.3 billion in assets as of January 31, 2010. BetaPro is a subsidiary of Jovian Capital Corporation.
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., 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 $12.0 billion of client assets ($7.0 billion in assets under management and $5.0 billion in assets under administration). Additional information is available at www.sedar.com.
For further information: Ken McCord, President, AlphaPro Management Inc., at (416) 933-5746 or 1-866-641-5739; or Don Sangster, Investor Relations, Jovian Capital Corporation, (416) 933-5744; or Philip Armstrong, Chief Executive Officer, Jovian Capital Corporation, (416) 933-5752
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