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BetaPro Management to Sell Minority Stake in AlphaPro Subsidiary

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^{Published in Business and Finance on Thursday, July 2nd 2009 at 9:29 GMT, Last Modified on 2009-07-02 09:29:14 by Market Wire}  

 TORONTO, July 2 /CNW/ - Jovian Capital Corporation ("Jovian") (TSX: JOV) and its subsidiary BetaPro Management Inc. ("BetaPro"), the manager of the Horizons BetaPro Exchange Traded Funds, are pleased to announce that BetaPro has entered into an agreement with National Bank Financial Group (the "Financial Group") for the purchase by the Financial Group of 20% of BetaPro subsidiary AlphaPro Management Inc. ("AlphaPro"). Subject to the satisfaction of various closing conditions, the transaction is expected to be completed later this summer. AlphaPro, the manager of the Horizons AlphaPro Exchange Traded Funds, is an innovative financial services company specializing in actively managed ETFs. AlphaPro currently manages approximately $64 million on behalf of investors and is the only provider of actively managed ETFs in Canada. The Financial Group is one of Canada's leading financial services organizations and National Bank of Canada is the country's sixth largest bank. "As interest in ETFs continues to grow, we believe actively managed ETFs will significantly grow their market share. AlphaPro intends to be at the forefront in developing this market," said Adam Felesky, Chief Executive Officer of AlphaPro. About BetaPro Management Inc. ([ www.HBPETFs.com ]) 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. HBP 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 one times the inverse of their specified underlying index or benchmark. The HPB 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 its specified underlying index. BetaPro is a subsidiary of Jovian Capital Corporation and manages, as of June 30, 2009, approximately $2.4 billion amongst 38 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 Funds Inc., JovFunds Inc., JovFunds Management Inc., JovInvestment Management Inc., Leon Frazer & Associates Inc., MGI Securities Inc., MGI Securities (USA) Inc., MGI Financial Inc., T.E. Wealth and Felcom Data Services Inc.) manages $12.0 billion of client assets ($6.0 billion in assets under management and $6.0 billion in assets under administration). Additional information is available at [ www.sedar.com ].

For further information: Howard Atkinson, President, BetaPro Management Inc., (416) 777-5167; or Don Sangster, Investor Relations, Jovian Capital Corporation, (416) 933-5744; or Philip Armstrong, C.E.O., Jovian Capital Corporation, (416) 933-5752