Canada-based Jovian Capital Corporation and its subsidiaries AlphaPro Management and BetaPro Management have launched a new family of Horizons AlphaPro exchange traded funds.
The AlphaPro exchange traded funds (ETFs) are claimed to be the first actively managed ETFs offered in Canada by the same team of innovators as BetaPro. The Horizons AlphaPro Managed S&P/TSX 60 ETF (HAX) is the first AlphaPro ETF to be launched, said Jovian.
Designed for long-term growth, HAX seeks to invest primarily in large capitalisation equity, income trust and equity related securities that are constituents of the S&P/TSX 60 Index. JovInvestment Management, the portfolio manager, will use top-down research to seek issuers that it believes will be likely to outperform or under-perform the index and over/underweight those stocks.
To manage the HAX portfolio, JovInvestment will use proprietary cycle, sentiment and technical research analysis on the S&P/TSX 60 Index provided by Ron Meisels, president of Phases & Cycles, a provider of independent investment research.
Howard Atkinson, president of AlphaPro and BetaPro, said: Horizons AlphaPro ETFs introduces the next evolution in investing, providing investors with a new approach to active management that includes all the benefits of an ETF: intra-day liquidity, tax efficiency and at a lower cost than traditional mutual funds. We are pleased to be utilising the proven research methodology of Ron Meisels, president of Phases & Cycles, in HAX, the first active ETF in our AlphaPro ETFs family.
