National Bank Financial Group has agreed to buy 20 per cent of AlphaPro Management Inc., which operates Canadian actively managed ETFs, from Jovian Capital Corp. and its subsidiary BetaPro Management Inc.

BetaPro manages the Horizons BetaPro family of exchange-traded funds. Like ETFs generally, the BetaPro products are designed to passively mimic the ups and downs of benchmark stock indexes. AlphaPro, a subsidiary of BetaPro, manages approximately $64 million on behalf of investors.