Harvest Portfolios Group Inc. Announces Listing of Harvest Global Resource Leaders ETF (HRES) and Harvest US Bank Leaders Income ETF (HUBL)
OAKVILLE, ON, Feb. 5, 2018 /CNW/ - Harvest Portfolios Group Inc. ("Harvest") is pleased to announce the completion of the initial offering of Class A Units of the Harvest Global Resource Leaders ETF, Class A and Class U Units of the Harvest US Bank Leaders Income ETF pursuant to a prospectus dated January 26, 2018, filed with the securities regulatory authorities in all of the Canadian provinces and territories. The Class A Units of the Harvest Global Resource Leaders ETF will commence trading on the Toronto Stock Exchange ("TSX") today under the following ticker symbol: HRES:TSX. The Class A Units of the Harvest US Bank Leaders Income ETF will commence trading on the TSX today under the following ticker symbol: HUBL:TSX and the Class U Units of the Harvest US Bank Leaders Income ETF will commence trading on the TSX today under the following ticker symbol: HUBL.U:TSX.
The Harvest Global Resource Leaders ETF's investment objectives are to provide Unitholders with (i) quarterly cash distributions; and (ii) the opportunity for capital appreciation. To achieve lower overall volatility of portfolio returns, the Harvest Global Resource Leaders ETF will selectively write covered call options on up to 33% of the portfolio securities. The level of covered call option writing may vary based on market volatility and other factors.
The Harvest US Bank Leaders Income ETF's investment objectives are to provide unitholders with (i) monthly cash distributions; (ii) the opportunity for capital appreciation; and (iii) lower overall volatility of portfolio returns than would otherwise be experienced by owning equity securities of the US Bank leaders directly. To achieve lower overall volatility of portfolio returns, the Harvest US Bank Leaders Income ETF will generally write covered call options on up to 33% of the portfolio securities. The level of covered call option writing may vary based on market volatility and other factors.
"The launch of these two ETFs expands Harvest's ETF family to eight and is in keeping with our belief in the long term growth of capital through equity ownership. We are excited about the opportunities in the resource sector through the direct correlation to a growing world economy, and US Financials with the positive growth dynamics that are presently occurring and projected to continue", said Michael Kovacs, President & Chief Executive Officer, Harvest Portfolios Group Inc.
You will usually pay brokerage fees to your dealer if you purchase or sell units of the Harvest ETFs on the TSX. If the units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying units of the Harvest ETFs and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning units of an investment fund. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. An investment fund must prepare disclosure documents that contain key information about the Harvest ETFs. You can find more detailed information about the Harvest ETFs in these documents.
SOURCE Harvest Portfolios Group Inc.
Please visit www.harvestportfolios.com, e-mail [email protected] or call toll free 1-866-998-8298.
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