Skip to main content

Don VialouxJ.P. MOCZULSKI/The Globe and Mail

Research analysts Don Vialoux and Jon Vialoux, known for their technical as well as seasonal reports on Canadian stocks, are promising to soon return to the investment arena after severing ties this month with ETF provider Horizons ETFs Management (Canada) Inc.

Horizons ETFs announced Friday that, effective immediately, both Don and his son Jon are no longer affiliated with the Horizons Seasonal Rotation ETF, which has assets under management of $123-million.

The two analysts had been working with Horizons since the fund's inception in November 2009 and provided technical analysis for the Horizons Seasonal Rotation ETF, which follows an investment strategy that was co-developed by Don and lead analyst Brooke Thackray. Mr. Thackray will continue as lead analyst on the strategy of the ongoing fund.

"Don and Jon will likely pursue other industry opportunities, and while we appreciated their technical analysis expertise, at its core, HAC's strategy is focused on seasonal investment trends, and who better to have as your lead analyst on HAC than Brooke Thackray," Steve Hawkins, Co-CEO of Horizons ETFs, said in an interview with The Globe and Mail.

The investment duo are well known within the industry and are frequent guests of BNN's Market Call. They also have a column on seasonal and technical trends published frequently on The Globe and Mail website.

In a blog posted on their website Tuesday, Don and Jon hinted about their future plans. "We have been working to refine our investment model to generate larger, consistent return streams. This fall we expect to make an announcement of our future initiative that will allow investors to gain exposure to the strategy that we have presented through our websites since 2003, using a combination of seasonal, technical, and fundamental analysis," they wrote on

Mr. Hawkins said that HAC is Horizons' second oldest actively managed ETF and one of its most successful in terms of sales. "Brooke's ground-breaking research on seasonal investment trends and timely insight has been at the core of this success," Mr. Hawkins said in a statement Friday.

No changes are planned to either the investment objective or portfolio strategy of the Horizons ETF.