OAKVILLE, ON, Dec. 15, 2021 /PRNewswire/ – Harvest Portfolios Group Inc. (“Harvest”) announces that effective January 1, 2022, Brand Leaders Income Fund (TSX: HBL.UN) and Australian REIT Income Fund (TSX: HRR.UN) will discontinue paying quarterly servicing fees which are currently paid to registered investment dealers that have investors that hold units of HBL.UN and Class A units of HRR.UN. The final quarterly servicing fee for HBL.UN and HRR.UN will be paid to registered investment dealers on or about January 10, 2022. Harvest believes that discontinuing servicing fee payments will align HBL.UN and HRR .UN with the majority of closed-end funds which do not pay servicing fees. Harvest expects a reduction to the management expense ratio going forward for HBL.UN and HRR.UN as a result of discontinuing the quarterly servicing fees.
About Harvest Portfolios Group Inc.
Founded in 2009, Harvest is a Canadian Investment Fund Manager managing $2 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.
You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment fund on the TSX. If the shares are purchased or sold on the TSX, investors may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning shares of an investment fund. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. An investment fund must prepare disclosure documents that contain key information about the investment fund. You can find more detailed information about the investment fund in these documents.
Certain statements in this press release are forward looking Forward-looking statements (“FLS”) are statements that are predictive in nature, depend upon or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” “intend,” “plan,” “believe,” or “estimate,” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. Although the FLS contained herein are based upon what Harvest Portfolios Group Inc. believes to be reasonable assumptions, Harvest Portfolios Group Inc. cannot assure that actual results will be consistent with these FLS.