Toronto-based Jovian Capital Corp., together with its subsidiary, Toronto-based BetaPro Management Inc., has added two new exchange-traded funds to their ETF lineup: Horizons BetaPro COMEX Copper ETF and Horizons GMP Junior Oil and Gas Index ETF. Horizons BetaPro COMEX Copper ETF offers exposure to the daily price performance of copper futures contracts. Management fees for this ETF are 0.75%. Horizons GMP Junior Oil and Gas Index ETF offers exposure to an index of Canadian-based junior energy production companies. The ETF will track the recently launched GMP Junior Oil and Gas Index, which was developed by Toronto-based GMP Securities LP and is administered by Standard and Poor’s Corp. The GMP Junior Oil and Gas Index aims to provide an investible index that tracks the performance of small- to mid-capitalization Canadian oil and gas exploration and production companies listed on the Toronto Stock Exchange. Management fees for Horizons GMP Junior Oil and Gas Index ETF are 0.60%.

Manulife Asset Management names directors

Toronto-based Manulife Asset Management Ltd. has appointed two new directors to its global production-development teams. Mark Bankay, director of product development in Canada, will be based in the Toronto office and brings more than 17 years of industry experience to the role. Prior to joining Manulife, Bankay had worked at Hartford Investments Canada Corp., at which he was responsible for product development, management and investment analytics. He also had worked at AGF Management Inc. in institutional account services and has held positions with Fidelity Investments Canada ULC, Russell Investments Ltd. and Canada Trust (all based in Toronto). Patricia Carrington, director of product development in the U.S. for Manulife Asset Management, will be based in the Boston office and brings almost 20 years of industry experience to the role. Prior to joining Manulife, Carrington had worked with Deutsche Asset Management in New York, at which she managed product development and management for both the open- and closed-ended fund businesses. She also has held positions at Albany, N.Y.-based First Albany Corp. in high-yield sales and, prior to that, at Baltimore-based Alex Brown & Sons. Both Bankay and Carrington will oversee institutional and subadvisory product-development efforts in their respective countries.

Empire Life enhances Class Plus service

Kingston, Ont.-based Empire Life Insurance Co. has launched a new service for its Class Plus clients. The Excess Withdrawal Alert (EWA) service will protect Class Plus clients’ income from excess withdrawals that could cause their future guaranteed income to decrease. The automatic service will be offered at no cost to clients, and notification will be provided by a client’s advisor if a withdrawal that the client has requested exceeds his or her annual limit. The advisor will then have the opportunity to explain the consequences of the excess withdrawal so the client can decide whether to proceed with the withdrawal or to consider other options that wouldn’t affect the guaranteed income. Empire says the EWA service allows both clients and advisors to keep financial plans on track in order to meet long-term financial goals.

Mackenzie Financial rollover

Toronto-based Mackenzie Financial Corp. has announced that on or about March 24, MSP 2009 Resource LP will transfer substantially all of its assets to Mackenzie Financial Capital Corp. In exchange, MFCC will issue to MSP 2009 Resource LP a number of shares of Mackenzie Universal World Resource Class Fund having the same aggregate value as the aggregate value of the assets being transferred from MSP 2009 Resource LP. On or about March 25, MSP 2009 Resource LP will be dissolved, with the result that limited partners of MSP 2009 Resource LP will become unitholders of Mackenzie Universal World Resource Class Fund. Appropriate tax elections will be made so that these transfers occur on a tax-deferred basis. Mackenzie Universal World Resource Class Fund is a mutual fund that is a class of redeemable shares of MFCC, a multi-class mutual fund corporation that pursues long-term capital growth primarily from investment in shares of companies operating anywhere in the world in the energy and natural resources industries. The fund is one of 56 classes of mutual fund shares currently offered by MFCC, which include a broad range of investment mandates and portfolio managers. Shareholders of MFCC are permitted to switch between most MFCC mutual funds, and all switches occur on a tax-deferred basis.

Compiled by Clare O’Hara (cohara@investmentexecutive.com).