In January 2008, BetaPro launched an additional 10 Horizons BetaPro Exchange Traded Funds ("HBP ETFs") covering global mining, gold bullion, crude oil, natural gas and agricultural grains. BetaPro launched four HBP ETFs on January 16 and a further four HBP ETFs on January 23, 2008. Two more HBP ETFs are expected to be launched in the near future. Similar to the existing HBP ETFs, the new bull HBP ETFs offer twice the daily performance, and the new bear HBP ETFs offer twice the inverse performance, of their underlying benchmark. All of the HBP ETFs are offered in Canadian dollars, although certain of the HBP ETFs will offer investors exposure to their underlying index which is expressed in US dollars, through currency hedging.
Fasken Martineau acted for BetaPro in the launch of these new HBP ETFs with a team that included Garth Foster, Munier Saloojee and Sheila O'Toole (securities/investment funds); Jon Holmstrom and Aaron Stefan (banking & finance); and Mitchell Thaw (tax).