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BetaPro Management Increases Stake in Australian ETFs Company

^{Published on 2011-01-18 14:05:26 - Market Wire}
 

TORONTO, Jan. 18 /CNW/ - Jovian Capital Corporation ("Jovian") (JOV:TSX) and its subsidiary BetaPro Management Inc. ("BetaPro"), the manager of the Horizons BetaPro exchange traded funds ("ETFs"), are pleased to announce that, further to the announcement of March 1, 2010, BetaPro has completed a second equity investment in BetaShares Holdings Pty Ltd. ("BetaShares Holdings").  BetaShares Holdings is a private Australian holding company whose subsidiary, BetaShares Capital Limited ("BetaShares Capital"), offers ETFs on the Australian Securities Exchange.  

The initial transaction completed by BetaPro in March 2010 provided for BetaPro to increase its equity stake in BetaShares Holdings if certain milestones were met by BetaShares Capital with regard to the listing of its ETFs.  BetaShares Capital recently announced the launch of two new products on the Australian Securities Exchange, being:

• BetaShares S&P/ASX 200 Financials Sector ETF (Synthetic) (ASX Code: QFN)
• BetaShares S&P/ASX 200 Resources Sector ETF (Synthetic) (ASX Code: QRE)

As a result, through a subsidiary, BetaPro has increased its equity ownership of BetaShares Holdings to approximately 30%.  The initial transaction also provides for BetaPro to increase its stake in BetaShares Holdings to 40% if certain further milestones are met.  In addition, BetaPro holds options to acquire additional equity in BetaShares Holdings over time.

Philip Armstrong, C.E.O. of Jovian said, "We are very pleased that BetaShares has now launched its first ETFs on the Australian Exchange.  BetaPro's increased investment in BetaShares is another step toward Horizons BetaPro's goal of becoming a substantial presence in the global ETFs business."

About BetaPro Management Inc. ([ w ][ ww.betaproetfs.com ])
BetaPro manages the Horizons BetaPro family of exchange traded funds (the "Horizons BetaPro ETFs"), a broadly diversified range of investment tools with solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. The Horizons BetaPro ETFs include several types of structures: single, inverse, leveraged and spread ETFs. BetaPro is a subsidiary of Jovian Capital Corporation (JOV:TSX) with assets under management of approximately $2.6 billion as of December 31, 2010, amongst 47 ETFs. Its subsidiary, AlphaPro Management Inc., Canada's largest provider of actively managed ETFs, has approximately $500 million of assets under management. Together under the Horizons ETFs brand, the two companies have more than $3.1 billion of assets under management as of December 31, 2010.   

About Jovian Capital Corporation
Jovian acquires, creates and grows financial services companies specializing in three primary market segments: wealth management, traditional asset managers, and exchange traded fund asset managers. 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 approximately $13.0 billion of client assets ($7.5 billion in assets under management and $5.5 billion in assets under administration).  Additional information is available at [ www.joviancapital.com ] and [ www.sedar.com ].