Horizons Advantaged Equity Fund appoints new fund manager

TORONTO, July 29 /CNW/ - Horizons Advantaged Equity Fund Inc. (the "Fund") announces that, effective on the close of business September 27, 2010, JovInvestment Management Inc. ("JovInvestment"), an affiliate of JovFunds Management Inc. ("JovFunds"), will replace JovFunds as the manager of the Fund. JovInvestment is, and will continue to act as, the Investment Advisor of the Fund. T.I.P. Wealth Manager Inc. and Leon Frazer & Associates Inc. will each continue to act as sub-advisors of the Fund.

About JovInvestment Management Inc.

JovInvestment is a member of the Jovian Capital Corporation group of companies and provides investment advisory and administration services to a broad range of clients, including ETFs, public mutual funds, closed-end funds, hedge funds and principal protected notes. JovInvestment manages more than $3.4 billion in assets under management as at June 30, 2010.

For further information: Steven J Hawkins, President, JovInvestment Management Inc., [phone]