Jovian Capital Corp. and its related company, BetaPro Management Inc., plan to merge several Horizons BetaPro mutual funds with their equivalent exchange traded funds (ETF), the firms announced today.

As well, certain other HBP mutual funds will be terminated, each with an effective date of approximately July 31.

“We are extremely pleased with the tremendous success and popularity of our existing Canadian and commodity-focused ETFs line-up,” said Howard Atkinson, president of BetaPro. “Their superior cost and tax efficiency makes them a more attractive vehicle for investors over our traditional funds. This consolidation of products will lead to greater efficiencies and liquidity for investors and will allow us to focus on bringing additional HBP ETFs to the marketplace to meet the growing demand.”

The HBP funds to be merged with their equivalent ETFs are:

  • Horizons BetaPro S&P 500(R) Bear Plus Fund, into Horizons BetaPro S&P 500(R) Bear Plus ETF
  • Horizons BetaPro S&P/TSX 60(R) Bear Plus Fund, into Horizons BetaPro S&P TSX 60(R) Bear Plus ETF
  • Horizons BetaPro NYMEX(R) Oil Bear Plus Fund, into Horizons BetaPro NYMEX(R) Crude Oil Bear Plus Fund
  • Horizons BetaPro COMEX(R) Gold Bull Plus Fund, into Horizons BetaPro COMEX(R) Gold Bullion Bull Plus ETF



    Additionally, the remaining HBP funds will be terminated:

  • Horizons BetaPro NASDAQ-100 Bull Plus Fund
  • Horizons BetaPro NASDAQ-100 Bear Plus Fund
  • Horizons BetaPro Canadian Bond Bull Plus Fund
  • Horizons BetaPro Canadian Bond Bear Plus Fund
  • Horizons BetaPro U.S. Dollar Bull Plus Fund
  • Horizons BetaPro U.S. Dollar Bear Plus Fund
  • Horizons BetaPro COMEX Gold Bear Plus Fund
  • Horizons BetaPro NYMEX Oil Bull Plus Fund
  • Horizons BetaPro S&P/TSX 60 Bull Plus Fund
  • Horizons BetaPro S&P 500 Bull Plus Fund



    In respect of each terminating fund, HBP distributes ETFs that have substantially similar investment objectives, provide inter-day liquidity and offer lower management fees, according to a news release.

    BetaPro suggests investors who wish to switch their investment in a terminating fund prior to the effective date should contact their investment advisor.