OAKVILLE, Ontario (BUSINESS WIRE) | French – Harvest Portfolios Group Inc. (“Harvest”) is pleased to announce the completion of the initial offering of Class A Units of the Harvest Travel & Leisure Income ETF pursuant to a prospectus dated April 4, 2023, filed with the securities regulatory authorities in all of the Canadian provinces and territories. The Class A Units of the Harvest Travel & Leisure Income ETF will commence trading on the TSX today under the following ticker symbol: TRVI:TSX.
TRVI captures the travel & leisure industry through a diversified index portfolio of Airlines, Cruise Lines, Hotels, Resorts, Casinos, and Online Booking Services. It earns a high monthly income distribution through the application of an active & flexible covered call option writing strategy.
The ETF is launching with an initial target yield of 10.4%. The first monthly distribution will have a record date of May 31, 2023 with a payable date of June 9, 2023.
TRVI tracks the Solactive Travel & Leisure Index GTR which encompasses the 30 largest travel & leisure related companies listed in North America by market cap. It is the same index tracked by the Harvest Travel & Leisure Index ETF (TRVL:TSX), which was launched in 2021 as the first Canadian ETF to exclusively capture the travel & leisure industry.
“TRVI like TRVL is a first in Canada, offering exposure to the lucrative Travel and Leisure market with the addition of an attractive monthly income generating portfolio” said Michael Kovacs, President and CEO of Harvest ETFs. “The Travel & Leisure industry has long-term structural demand drivers, such as retiring baby boomers, and millennials that are entering their peak earnings years. We saw those when we launched TRVL in 2021. Now TRVI offers investors access to those same tailwinds, with the addition of high monthly income earned through Harvest ETFs’ active & flexible covered call option strategy.”
To learn more about TRVI watch this video or read this article about the ETF.
Investment Objective
Harvest Travel & Leisure Income ETF seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Solactive Travel & Leisure Index and to provide holders of Units with monthly cash distributions. Harvest Travel & Leisure Income ETF primarily invests in, directly or indirectly, the equity constituents of the Solactive Travel & Leisure Index, or any successor thereto, while writing 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.
For additional information: Please visit www.harvestportfolios.com, e-mail [email protected] or call toll free 1-866-998-8298.
About Harvest Portfolios Group Inc.
Founded in 2009, Harvest is an independent Canadian Investment Fund Manager managing $3.3 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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Contacts
For Additional Information:
Website: https://harvestportfolios.com
E-mail: [email protected]
Toll free: 1-866-998-8298
