BetaPro to sell minority stake in AlphaPro subsidiary

Date: Friday, July 3, 2009
Author: Investment Executive

Deal with National Bank expected to close later this summer

BetaPro Management Inc. has entered into an agreement to sell 20% of its AlphaPro Management Inc. subsidiary to National Bank Financial Group, BetaPro said Thursday.

The transaction is expected to be completed later this summer.

AlphaPro, the manager of the Horizons AlphaPro Exchange Traded Funds, specializes in actively managed ETFs. It currently manages approximately $64 million on behalf of investors and is the only provider of actively managed ETFs in Canada.

"As interest in ETFs continues to grow, we believe actively managed ETFs will significantly grow their market share. AlphaPro intends to be at the forefront in developing this market," said Adam Felesky, CEO of AlphaPro, in a news release.