OAKVILLE, ON–(BUSINESS WIRE)–Harvest Portfolios Group Inc. (“Harvest”) is pleased to announce the completion of the initial offering of Class A shares of 5 new Enhanced Equity Income ETFs pursuant to a prospectus dated August 30, 2022 filed with securities regulators in became all Canadian provinces and territories. Class A shares of the 5 new ETFs begin trading on the TSX today under the ticker symbols listed below.
The new Enhanced Equity Income ETFs each offer investors access to an existing Harvest Equity Income ETF with a leverage component of around 25%. The additional leverage increases the underlying ETF’s annualized return, increasing both the ETF’s risk-reward profile and market growth prospects.
“Harvest has a strong, well-established reputation for providing equity income ETFs to Canadian investors,” said Michael Kovacs, Harvest’s President and CEO. “The new Enhanced Equity Income ETFs build on this foundation, offering investors a higher monthly income by investing in an established Equity Income ETF with additional modest leverage.”
The ETF names, tickers and initial target returns are listed below.
The first monthly distributions from these ETFs have a record date of November 30, 2022 with a payment date of December 9, 2022.
“These ETFs access the same portfolios of leading companies and active and flexible covered call strategies used in their underlying ETFs,” Kovacs said. “But they bring a higher rate of return, which many Canadian investors are demanding.”
Click here to learn more about the Harvest Enhanced Equity Income ETFs.
Click here to watch a video about the new ETFs.
The investment objectives of the Harvest Enhanced Equity Income ETFs are to provide shareholders with high monthly cash distributions and the opportunity for capital appreciation by investing on a leveraged basis in an underlying Harvest Equity Income exchange traded mutual fund managed by the manager in accordance with the provisions of the Prospectus .
The investment objectives of the Underlying ETFs are to provide Shareholders with (i) an opportunity for capital appreciation; (ii) monthly cash distributions; and (iii) less overall volatility in portfolio returns than would otherwise result from directly owning equity securities from the specific ETF’s investable universe. In order to achieve lower overall volatility in portfolio returns, the underlying ETFs will generally write covered call options on up to 33% of the portfolio’s securities. Covered call option sales may vary based on market volatility and other factors.
For More Information: Please visit www.harvestportfolios.com, email [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 with $2.6 billion in assets under management for Canadian investors. Our guiding principles at Harvest ETFs are based on building wealth for our clients by owning strong companies that have the potential to grow and generate steady income over time. Harvest ETFs offers an innovative range of exchange-traded funds, mutual funds and exchange-traded structured fund products designed to meet investors’ long-term growth and income needs. We pride ourselves on creating trusted investment solutions that meet our investors’ expectations.
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