OAKVILLE, ON, May 6, 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 Canadian Equity Income Leaders ETF (“HLIF”). HLIF is designed to provide Canadian investors access to a managed portfolio of the top 30 Canadian equity income issuers to produce monthly cash distributions and the opportunity for capital appreciation.
“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 that many Canadian investors require in the current interest rate environment.”
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.
Harvest, a registered investment fund manager and portfolio manager, will act as promoter, trustee, manager and portfolio manager of HLIF and will be responsible for the administration of HLIF.
About Harvest Portfolios Group Inc.
Founded in 2009, Harvest is a Canadian Investment Fund Manager managing $2.3 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 Canadian Equity 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.