Jovian Asset Management Inc. has entered into a letter of intent to acquire 50% of the issued and outstanding shares of Hahn Investment Stewards & Company Inc., Jovian Capital Corp. announced on Wednesday.

Hahn, which was founded by Wilfred Hahn in 2001, builds and manages globally diversified portfolios for its clients using exchange-traded funds.

“We believe that using ETFs to deliver global portfolio management solutions will become prevalent with private and institutional investors, and we are pleased to welcome Hahn to the Jovian group of companies,” said Philip Armstrong, CEO of Jovian. “This investment adds to Jovian’s powerful position in the ETF business. With our investments in BetaPro Management Inc., AlphaPro Management Inc., and now Hahn, we are well positioned to build on our substantial ETF platform with approximately $1.9 billion of assets under management.”

Davee Gunn, president and CEO of Hahn, said the company was pleased to be partnering with Jovian.

“The demand for professionally managed global ETF portfolios in separately managed accounts is growing and access to Jovian’s experienced management team and business resources will enhance our ability to expand our wealth management services and the application of our proprietary software in Canada and abroad,” Gunn said.