BetaPro Management Inc. has completed the merger of four funds into exchange-traded funds, the company announced on Friday, as part of its move to close its non-ETF business.

Horizons BetaPro COMEX(R) Gold Bull Plus Fund was merged into the Horizons BetaPro COMEX® Gold Bull Plus ETF; the Horizons BetaPro NYMEX(R) Oil Bear Plus Fund was merged into the Horizons BetaPro NYMEX(R) Oil Bear Plus ETF; the Horizons BetaPro S&P/TSX 60 Bear Plus Fund was merged into the Horizons BetaPro S&P/TSX 60(R) Bear Plus ETF; and the Horizons BetaPro S&P 500 Bear Plus Fund was merged into Horizons BetaPro S&P 500(R) Bear Plus ETF.

These mergers were reviewed and approved by the funds’ Independent Review Committee and notice of the mergers was provided to the unitholders of the merging HBP Funds.

In addition, the following Horizons BetaPro Funds have been terminated:

– Horizons BetaPro NASDAQ-100 Bull Plus Fund
– Horizons BetaPro NASDAQ-100 Bear Plus Fund
– Horizons BetaPro Canadian Bond Bull Plus Fund
– Horizons BetaPro Canadian Bond Bear Plus Fund
– Horizons BetaPro U.S. Dollar Bull Plus Fund
– Horizons BetaPro U.S. Dollar Bear Plus Fund
– Horizons BetaPro COMEX Gold Bear Plus Fund
– Horizons BetaPro NYMEX Oil Bull Plus Fund
– Horizons BetaPro S&P/TSX 60 Bull Plus Fund
– Horizons BetaPro S&P 500 Bull Plus Fund

Since their inception in January of 2007, the HBP ETFs have reached approximately $1.75 billion in assets under management. With 28 ETFs listed on the Toronto Stock Exchange, BetaPro has the largest number of ETFs in Canada. In addition, the HBP ETFs have been some of the most highly traded ETFs on the TSX, accounting for over 210 million shares traded or almost 68 % of all ETFs trading by volume on the TSX for the month of June.

“We’ve experienced tremendous growth in our ETFs and have decided to close our non-ETF line-up to allow us to focus on managing and growing our ETF business,” says Howard Atkinson, president of BetaPro.