OAKVILLE, ON, Aug 2, 2022 /CNW/ – Harvest Portfolios Group Inc. (“Harvest”) is pleased to announce that it has filed a preliminary prospectus with the Canadian securities regulators for the Harvest Healthcare Leaders Enhanced Income ETF (HHLE), Harvest Brand Leaders Enhanced Income ETF (HBFE), Harvest Tech Achievers Enhanced Income ETF (HTAE), Harvest Equal Weight Global Utilities Enhanced Income ETF (HUTE) and Harvest Canadian Equity Enhanced Income Leaders ETF (HLFE) (collectively the “Harvest Enhanced Equity Income ETFs”). The Harvest Enhanced Equity Income ETFs are designed to provide Canadian investors access to existing Harvest equity income exchange traded funds (“ETFs”) to produce high monthly cash distributions and the opportunity for capital appreciation.
“We believe the new suite of Harvest Enhanced Equity Income ETFs offers an innovative approach to provide higher income by investing with modest leverage in existing Harvest Equity Income ETFs,” said Michael Kovacs, President and CEO of Harvest.
Each of the five Harvest Enhanced Equity Income ETF investment objectives are to provide Unitholders with high monthly cash distributions and the opportunity for capital appreciation by investing, on a levered basis, in the corresponding underlying Harvest ETF, an exchange traded mutual fund managed by the Manager and engage in covered call strategies. At least initially and under normal market conditions, it is expected that each of the Harvest Enhanced Equity Income ETFs will use approximately 25% leverage in order to seek to achieve its investment objective. Leverage will be created through the use of cash borrowings or as otherwise permitted under applicable securities legislation.
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Harvest Enhanced Equity Income ETF |
Underlying Harvest ETF Investment |
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Harvest Healthcare Leaders Enhanced Income ETF |
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Harvest Brand Leaders Enhanced Income ETF |
Harvest Brand Leaders Plus Income ETF (HBF) |
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Harvest Tech Achievers Enhanced Income ETF |
Harvest Tech Achievers Growth & Income ETF |
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Harvest Equal Weight Global Utilities Enhanced |
Harvest Equal Weight Global Utilities Income ETF |
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Harvest Canadian Equity Enhanced Income |
Harvest Canadian Equity Income Leaders ETF |
Harvest, a registered investment fund manager and portfolio manager, will act as promoter, trustee, manager and portfolio manager of the Harvest Enhanced Equity Income ETFs and will be responsible for the administration of the Harvest Enhanced Equity Income ETFs.
About Harvest Portfolios Group Inc.
Founded in 2009, Harvest is a Canadian Investment Fund Manager managing $2.5 billion in assets for Canadian Investors. Harvest 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.
A preliminary prospectus containing important information relating to securities of the Harvest Healthcare Leaders Enhanced Income ETF, Harvest Brand Leaders Enhanced Income ETF, Harvest Tech Achievers Enhanced Income ETF, Harvest Equal Weight Global Utilities Enhanced Income ETF and Harvest Canadian Equity Enhanced Income Leaders ETF has been filed with the securities commissions or similar authorities in all provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. A copy of the preliminary prospectus is available on SEDAR (www.sedar.com). There will not be any sale or acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
Commissions, management fees, and expenses all may be associated with ETFs. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated.
For further information: Please visit www.harvestportfolios.com, e-mail [email protected] or call toll free 1-866-998-8298.
