OAKVILLE, ON, June 13, 2022 /CNW/ – Harvest Portfolios Group Inc. (“Harvest”) is pleased to announce the completion of the initial offering of Class A Units of the Harvest Canadian Equity Income Leaders ETF pursuant to a prospectus dated June 6, 2022, filed with the securities regulatory authorities in all of the Canadian provinces and territories. The Class A Units of the Harvest Canadian Equity Income Leaders ETF will commence trading on the TSX today under the following ticker symbol:TSX: HLIF. This innovative ETF is designed to provide Canadian investors access to a core diversified monthly income solution.
- HLIF’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 Canadian Equity Income Leaders Issuers directly.
- To achieve lower overall volatility of portfolio returns, the Harvest Canadian Equity Income Leaders 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.
Based on current market conditions as determined by Harvest, HLIF currently anticipates paying a monthly distribution of $0.0583 per unit starting with a July 29, 2022 record date and August 9, 2022 payment date.
“HLIF adds a vital Canadian component to our line up of Equity Income ETFs” said Michael Kovacs, President and CEO of Harvest. “HLIF offers a portfolio of Large Cap equally weighted dividend paying Canadian equities combined with our proven Option writing strategy to deliver attractive steady monthly income initially targeted at 7% annually that many Canadian investors require in the current interest rate environment.”
About Harvest Portfolios Group Inc.
Founded in 2009, Harvest is a Canadian Investment Fund Manager managing $2.4 billion in assets for Canadian Investors. At Harvest ETFs, our guiding principles are premised on building wealth for our clients through ownership of strong businesses that have the potential to grow & generate steady income over time. Harvest ETFs offers an innovative suite of exchange traded funds, mutual funds and publicly-listed structured fund products designed to satisfy the long-term growth and income needs of investors. We pride ourselves in creating trusted investment solutions that meet the expectations of our investors.
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You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment fund on the TSX. If the shares are purchased or sold on the TSX, investors may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning shares 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 investment fund. You can find more detailed information about the investment fund in these documents.
SOURCE Harvest Portfolios Group Inc.
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