Horizons AlphaPro launches S&P/TSX 60 Equal Weight Index ETF

On July 14, 2010, Jovian Capital Corporation (JOV: TSX) and its subsidiary AlphaPro Management Inc., the manager of the Horizons AlphaPro family of exchange traded funds ("ETFs"), announced the listing of the first and only ETF in Canada to track the recently created S&P/TSX 60(TM) Equal Weight Index. The ETF began trading on the Toronto Stock Exchange under the symbol HEW.

The Equal Weight ETF will seek to replicate the performance of the Equal Weight Index, net of expenses.

The Equal Weight Index and the S&P/TSX 60(TM) Index are comprised of 60 of the largest (by market capitalization) and most liquid securities listed on the TSX, selected by Standard & Poor's using its industrial classifications and guidelines for evaluating issuer capitalization, liquidity and fundamentals.

As its name implies, the Equal Weight Index assigns an equal weight to each of the constituent 60 Canadian stocks in the S&P/TSX 60(TM) Index and is rebalanced on a quarterly basis.

Fasken Martineau acted for AlphaPro with respect to the establishment and launch of this ETF with a team that included Garth Foster, Munier Saloojee and Louise Kennedy (investment/securities), and Mitchell Thaw (tax).