OAKVILLE, ONTARIO, March 12, 2020 – Harvest Portfolios Group Inc. (“Harvest”) is pleased to announce the completion of the initial offering of Class B Unhedged Units of the Harvest Healthcare Leaders Income ETF (“HHL”), Harvest Brand Leaders Plus Income ETF (“HBF”) and Harvest Tech Achievers Growth & Income ETF (“HTA”), pursuant to a prospectus dated June 14, 2019, as amended on February 27, 2020, filed with the securities regulatory authorities in all of the Canadian provinces and territories.
The Class B Unhedged Units are denominated in Canadian dollars and will commence trading on the Toronto Stock Exchange (“TSX”) today under the following ticker symbols: HHL.B, HBF.B and HTA.B. The value of the portfolio attributable to the Class B Unhedged Units, if any, will not be hedged.
“We want to give investors as much flexibility as possible when investing in our core Equity Income Strategies. With the new Class B Unhedged Units, one can choose the underlying ETF in hedged, unhedged or USD.” said Michael Kovacs, President and CEO of Harvest.
HHL’s investment objective is to provide Unitholders with (i) the opportunity for capital appreciation; (ii) monthly cash distributions; and (iii) lower overall volatility of portfolio returns than would otherwise be experienced by owning Equity Securities of the Healthcare Leaders directly. To achieve lower overall volatility of portfolio returns, HHL 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.
HBF’s investment objective is to provide holders of Units (“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 Brand Leaders directly. To achieve lower overall volatility of portfolio returns, HBF 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.
HTA’s investment objective is to provide Unitholders with (i) the opportunity for capital appreciation; (ii) monthly cash distributions; and (iii) lower overall volatility of the portfolio returns than would otherwise be experienced by owning Equity Securities of Technology Achievers directly. To achieve lower overall volatility of portfolio returns, HTA 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.
