Jovian Asset Management Inc. has completed the acquisition of 50% of the issued and outstanding shares of Hahn Investment Stewards & Company Inc., the companies announced on Monday.

Jovian Capital Corp. announced in early March that Jovian Asset Management would acquire the shares of Hahn, which builds and manages globally diversified portfolios for its clients using exchange-traded funds. The company was founded by Wilfred Hahn in 2001.

“We are very pleased to have acquired a substantial stake in Hahn. This acquisition will strengthen our powerful position in the ETF business,” said Philip Armstrong, CEO of Jovian. “Wilfred Hahn and his team add considerably to the investment expertise within the Jovian group of companies.”

Armstrong noted that including Jovian’s investments in BetaPro Management Inc., AlphaPro Management Inc. and HAHN, it has approximately $2.4 billion of assets under management in its ETF platform.

Davee Gunn, president and CEO of HAHN, said: “We are confident that our alliance with Jovian’s experienced management team will enhance our efforts to expand these wealth management services in Canada and abroad.”

IE