Jovian Capital Corporation («Jovian») (TSX: JOV) and its subsidiary .…
BetaPro Management Inc. («BetaPro»), the manager of the Horizons BetaPro Exchange Traded Funds, is pleased to announce the filing of a preliminary prospectus for the Horizons BetaPro Double Gold Bullion Fund.
The Fund’s investment objective is to provide holders of units of a class with long-term exposure to physical gold bullion with an initial value equal to approximately twice the net proceeds of the offering of the class. The Fund is intended to provide a secure, convenient, liquid, low-cost leveraged alternative for investors interested in an investment in physical gold bullion, with some unique redemption options (cash or gold bullion).
The Fund will borrow sufficient funds in respect of each class pursuant to a secured loan facility with a Canadian chartered bank such that after the closing of the offering of each class, the Fund will be able to purchase physical gold bullion with a value equal to twice the net proceeds of the offering of that class.
Investors may purchase either Class U Units which are denominated in U.S. dollars or Class C Units which are denominated in Canadian dollars. Given that gold bullion is priced in U.S. dollars, the Fund will hedge substantially all of the U.S. dollar currency value of the assets of the Class C Units back to the Canadian dollar. As a result, Class C Units will provide exposure to gold while reducing the USD/CAD currency risk for investors in that Class.
The syndicate of agents for the offerings is being led by BMO Nesbitt Burns Inc. and Macquarie Capital Markets Canada Ltd.
Source:ETFWorld.co.uk – BetaPro Management Inc. (“BetaPro”)
Lascia un commento