OAKVILLE, ONTARIO, January 15, 2019 – Harvest Portfolios Group Inc. (“Harvest”) is pleased to announce the completion of the initial offering of Class A Units of the Harvest Equal Weight Global Utilities Income ETF pursuant to a prospectus dated January 07, 2019, filed with the securities regulatory authorities in all of the Canadian provinces and territories. The Class A Units of the Harvest Equal Weight Global Utilities Income ETF will commence trading on the TSX today under the following ticker symbol: HUTL:TSX.
The Harvest Equal Weight Global Utilities 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 Global Utility Issuers directly. To achieve lower overall volatility of portfolio returns, the Harvest Equal Weight Global Utilities 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.
“Harvest believes we are in the latter stages of the current economic cycle where investors may look for more defensive investment opportunities.” said Michael Kovacs, President & Chief Executive Officer, Harvest Portfolios Group Inc. “Utility stocks may be attractive to investors because of their reputation for predictability and dependability. These companies produce and deliver essential services such as water, natural gas, sewer services and electricity – and have a long history of dividend yields.”
For additional information: Please visit www.harvestportfolios.com, e-mail [email protected] or call toll free 1-866-998-8298.
Founded in 2009, Harvest Portfolios Group Inc. is a Canadian Investment Fund Manager which offers an innovative suite of exchange traded funds, mutual funds and publicly-listed structured 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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