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Investors approve conversion of Jov Talisman Fund into actively-managed ETF

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Toronto-based JovFunds Management, a wholly-owned subsidiary of Jovian Capital Corporation, has won approval from a special meeting of unitholders to amend the investment objectives and st

Toronto-based JovFunds Management, a wholly-owned subsidiary of Jovian Capital Corporation, has won approval from a special meeting of unitholders to amend the investment objectives and strategies of the Jov Talisman Fund and convert it into an actively-managed exchange-traded fund.

Subject to remaining regulatory approval, the fund will be listed on a Canadian stock exchange in January and will be renamed the Horizons AlphaPro S&P/TSX 60 ETF.

Its fundamental investment objective is to achieve long-term capital growth by investing primarily in large capitalisation equity, income trust and equity-related securities that are constituents of the S&P/TSX 60 Index or similar Canadian indices.

To assist JovInvestment Management, the fund’s investment manager, Ron Meisels has been retained to provide exclusive access to his proprietary analytical and technical research services.

‘We are excited to launch one of the first actively-managed ETFs in Canada, the next step in this rapidly growing industry,’ says Adam Felesky, chief executive of JovFunds and BetaPro Management.

JovFunds manages and distributes around CAD2.2bn in client assets. The Jovian group of companies consists of MGI Securities, MGI Securities (USA), Rice Financial Group, BetaPro Management, Horizons Funds, JovFunds Management, JovFunds, JovInvestment Management, Leon Frazer & Associates, T.E. Wealth and Felcom Data Services, and has CAD5bn in assets under management and CAD7bn in assets under administration.

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