CANADA - Jovian Capital Corporation has launched the first actively managed exchange traded funds (E...
CANADA - Jovian Capital Corporation has launched the first actively managed exchange traded funds (ETFs) in Canada, based on the S&P/TSX 60 indices.
Jovian's subsidiaries AlphaPro and BetaPro Management launched the family of Horizons AlphaPro ETFs (HAX), based on large cap equity, income trust and equity-related securities of the top 60 stocks on the Toronto stock exchange.
The company said its methodology used a combination of top-down research and proprietary cycle, sentiment and technical research analysis on the S&P/TSX 60 Index, which was provided by independent investment research house Phases & Cycles.
Howard Atkinson, president of AlphaPro and BetaPro, said the new active ETFs were the next evolution in ETF investing, and added: "[This provides] 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 utilizing the proven research methodology of Ron Meisels, president of Phases & Cycles, in HAX, the first active ETF in our AlphaPro ETFs family."
Jovian said the HAX portfolio was designed of long term growth, and would over or under-weight constituent stocks within the index as it saw fit.
Partner Insight: Continuing the Architas education series for clients.
What made financial headlines over the weekend?
290,000 already affected
Putting the tech into protection
Square Mile’s series of informal interviews