OAKVILLE, ON, Feb. 16, 2022 /CNW/ - Harvest Portfolios Group
Inc. ("Harvest") is pleased to announce the completion of the
initial offering of Class A Units of the Harvest Diversified
Monthly Income ETF pursuant to a prospectus dated February 4, 2022, filed with the securities
regulatory authorities in all of the Canadian provinces and
territories. The Class A Units of the Harvest Diversified Monthly
Income ETF will commence trading on the TSX today under the
following ticker symbol: (TSX: HDIF). This innovative ETF is
designed to provide Canadian investors access to a
core diversified monthly income solution.
The Harvest Diversified Monthly Income ETF investment objective
is to provide holders of Class A Units with high monthly cash
distributions and the opportunity for capital appreciation by
investing, on a levered basis, in a portfolio of exchange traded
mutual funds managed by the Manager that are listed on a recognized
Canadian stock exchange and that engage in covered call
strategies. The ETF will use leverage in order to seek to
achieve its investment objective. Leverage will be created
through the use of cash borrowings or as otherwise permitted under
applicable securities legislation. The maximum aggregate exposure
of the ETF to cash borrowing will not generally exceed
approximately 33% of the ETF's net asset value.
"We are very excited to launch HDIF, the latest addition to the
Harvest Equity Income ETF lineup. Investors can now access five
proven Harvest Equity Income ETFs efficiently in one single ETF,"
said Michael Kovacs, President and
CEO of Harvest. "HDIF provides an attractive high initial target
yield of 8.50% per annum within a competitive cost structure."
For additional information: Please visit
www.harvestportfolios.com
About Harvest
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 units of the ETF(s) on the TSX. If the units are
purchased or sold on the TSX, investors may pay more than the
current net asset value when buying units of the ETF(s) and may
receive less than the current net asset value when selling them.
There are ongoing fees and expenses associated with owning units 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 fund. You can find more detailed
information about the fund in these documents.
SOURCE Harvest Portfolios Group Inc.