Toronto-based BetaPro Management has launched the Horizons BetaPro Global Gold ETFs, the first exchange-traded funds in Canada to offer inverse and magnified exposure to the S&P/TSX Gl
Toronto-based BetaPro Management has launched the Horizons BetaPro Global Gold ETFs, the first exchange-traded funds in Canada to offer inverse and magnified exposure to the S&P/TSX Global Gold Index, following the launch of similar funds offering inverse and magnified exposure to energy.
The Horizons BetaPro S&P/TSX Global Gold Bull Plus ETF is designed to provide daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that correspond to two times the daily performance of the S&P/TSX Global Gold Index, while the HBP Global Gold Bear Plus ETF is designed to provide twice the inverse of the daily performance of the index.
‘Our new HBP Global Gold ETFs complement our existing Gold Bull and Bear Plus funds, which offer direct exposure to daily price changes in gold bullion,’ says Howard Atkinson, president of Horizons BetaPro ETFs. ‘Now investors can easily manage their exposure to both gold equities and gold bullion using our ETFs and funds respectively.’
Similarly, the HBP Energy ETFs are the first Canadian ETFs in Canada to offer inverse and magnified exposure to the S&P/TSX Capped Energy Index. The HBP S&P/TSX Capped Energy Bull Plus ETF is designed to provide double the daily performance of the index, while the HBP Capped Energy Bear Plus ETF offers results corresponding to two times the inverse of the index performance.
‘The Canadian energy sector, the second largest by market capitalisation, is an important component of our domestic equity market,’ Atkinson says. ‘Offering tools to help investors efficiently manage their energy exposure is a significant addition to our growing suite of ETFs.’
BetaPro Management specialises in providing investors with investment tools designed to allow them to profit when the market is rising or falling, or to reduce their risk by hedging their existing market exposure. In addition to the new gold and energy funds, the firm also offers the HBP S&P/TSX 60 Bull and Bear Plus ETFs and the S&P/TSX Capped Financials Bull and Bear Plus ETFs
BetaPro is a subsidiary of Jovian, a Toronto-listed management and holding company with interests in a variety of financial service firms specialising in wealth and asset management. The Jovian group as a whole has some CAD 4.9bn in assets under management and CAD9.1bn in assets under administration.