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Horizons AlphaPro Fiera Tactical Bond Fund Successfully Closes $30 Million Initial Public Offering

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^{Published in Business and Finance on Tuesday, July 21st 2009 at 6:51 GMT, Last Modified on 2009-07-21 06:51:41 by Market Wire}  

 TORONTO, July 21 /CNW/ - Jovian Capital Corporation ("Jovian") (TSX: JOV) and its subsidiary AlphaPro Management Inc. ("AlphaPro") are pleased to announce today's closing of the initial public offering of 2.9 million Class A units and approximately 0.14 million Class F units of the Horizons AlphaPro Fiera Tactical Bond Fund (the "Fund"), for gross proceeds of more than $30.4 million. The Class A units are listed for trading on the Toronto Stock Exchange ("TSX") under the symbol HAF.UN. The Fund is expected to automatically convert into an actively managed exchange traded fund ("ETF") after June 30, 2010 and, in any event, no later than December 31, 2010. The Fund has been created to provide investors with a stable stream of tax-efficient monthly distributions and the opportunity for capital appreciation through exposure to the investment strategies of Fiera Capital Inc. ("Fiera"), one of the largest independent money managers in Canada. "We are delighted with the response to this third fund offering from Horizons AlphaPro," said Howard Atkinson, President of AlphaPro. "This Fund combines exposure to the expertise of Fiera Capital, one of the best fixed income managers in Canada and, after conversion, the benefits of an ETF structure - low cost, intraday liquidity and diversification, as well as the opportunity for stable income." The net proceeds of the offering will be used to gain exposure to an actively managed portfolio of exchange traded fund investments that Fiera's asset allocation team believes will provide the greatest opportunity for generating stable risk-adjusted returns. This will occur through exposure to global fixed income markets, including government treasury securities, corporate bonds and high yield debt securities. Using its proprietary tactical asset allocation process, Fiera will seek to actively manage the duration, credit exposure and risk in the portfolio through its selection of investments from a universe of more than 80 global fixed income ETFs. "We are very pleased to have partnered with AlphaPro on this project," said Francois Bourdon, Senior Vice President, Asset Allocation and Structured Fixed Income, Fiera Capital Inc. "The portfolio will provide risk-adjusted, broad, fixed income diversification in a low cost structure." AlphaPro is the manager and trustee of the Fund and its affiliate JovInvestment Management Inc. ("JovInvestment") is the investment manager of the Fund, responsible for implementing the Fund's investment strategies. JovInvestment will also engage the services of Fiera. The syndicate of agents for the offerings was being led by BMO Nesbitt Burns Inc. and CIBC World Markets Inc. and includes National Bank Financial Inc., HSBC Securities (Canada) Inc., Desjardins Securities Inc., Canaccord Capital Corporation, Dundee Securities Corporation, Raymond James Ltd., Wellington West Capital Markets Inc., Blackmont Capital Inc., Laurentian Bank Securities Inc., MGI Securities Inc. and Research Capital Corporation. The Fund has granted the agents an over-allotment option to acquire additional units exercisable at any time during the next thirty days. A copy of the Fund's final prospectus is available from the agents or other investment dealers and is also available on AlphaPro's website[ www.hapetfs.com ]. About Fiera Capital Inc. ([ www.fieracapital.com ]) Founded in 2003, Fiera is one of the largest independent money managers in Canada with approximately $18.5 billion in assets under management as at May 31, 2009. Fiera has depth and expertise in both fixed income management (approximately $12.4 billion in assets under management) and tactical asset allocation (approximately $2 billion in assets under management in specialty asset allocation mandates and a further approximately $4.1 billion in diversified balanced mandates that include an asset allocation component). About AlphaPro Management Inc. ([ www.hapetfs.com ]) AlphaPro, the manager and the trustee of the Horizons AlphaPro ETFs, is an innovative financial services company specializing in actively managed ETFs. AlphaPro is a subsidiary of BetaPro Management Inc. ("BetaPro"). BetaPro is Canada's largest provider of inverse, leveraged and inverse leveraged ETFs. BetaPro manages over $2.4 billion in assets as of June 30, 2009. BetaPro is a subsidiary of Jovian. 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 $12.5 billion of client assets ($6.0 billion in assets under management and $6.5 billion in assets under administration). Additional information is available at [ www.sedar.com ].

For further information: Don Sangster, Investor Relations, Jovian Capital Corporation, (416) 933-5744; or Howard Atkinson, President, AlphaPro Management Inc., (416) 777-5167