Jovian Asset Management Inc. has entered into an agreement in principle to acquire control of Horizons Fund Inc., a developer and distributor of investment fund products that specializes in innovative investing strategies.

A joint announcement was made today by Jovian’s parent company, Jovian Capital Corp., and Horizons.

The transaction is expected to close within 90 days, subject to due diligence and regulatory approval.

Horizons manages, distributes and acts as trustee for three open-ended, full prospectus hedge funds: Horizons Mondiale Hedge Fund; Horizons Tactical Hedge Fund; and Horizons Phoenix Hedge Fund, as well as for Horizons Diversified Fund, whose securities are sold in the prospectus exempt markets.

Currently, Horizons has assets under management of approximately $150 million.

Horizons Mondiale Hedge Fund, the largest fund, has been in existence since 1997 and is managed using systematic, trend following strategies with strong risk controls.