Jovian Capital Corporation and its exchange-traded fund subsidiary BetaPro Management have announced that the Horizons BetaPro ETFs based on Nymex natural gas and crude oil and Comex gold
Jovian Capital Corporation and its exchange-traded fund subsidiary BetaPro Management have announced that the Horizons BetaPro ETFs based on Nymex natural gas and crude oil and Comex gold prices have reached more than CAD500m in assets under management and have traded a total of 240 million shares on the Toronto Stock Exchange since their launch six months ago.
The Horizons BetaPro Nymex Crude Oil Bear Plus ETF is one of BetaPro’s most successful products with an average volume of nearly 4 million shares traded daily last month. The Nymex- and Comex-branded Horizons BetaPro ETFs have been launched under an exclusive license agreement with Nymex.
‘The marketplace has shown a strong demand for our Nymex and Comex branded ETFs,’ says BetaPro president Howard Atkinson. ‘Our partnership with Nymex has enabled easy investor access to the world’s largest physical commodities exchange and the premier futures and options exchange in the natural resources space.’
Since the launch of the business in January 2007, BetaPro’s assets under management have grown to CAD1.75bn and the Horizons BetaPro ETFs have been the most heavily traded ETFs on the Toronto Stock Exchange for four consecutive months.
‘Nymex is pleased with the success these products have shown in such a short time,’ says the exchange’s chairman Richard Schaeffer. ‘We believed there was a strong need for innovative energy and metals risk management tools in Canada, and we are proud to work with BetaPro to meet that need.’