OAKVILLE, ON, Dec. 4, 2018 /CNW/ - Harvest Portfolios Group Inc. ("Harvest") is pleased to announce that it has filed a preliminary prospectus with the Canadian securities regulators for the Harvest Equal Weight Global Utilities Income ETF ("HUTL") and Harvest Global Gold Giants Index ETF ("HGGG").
"These two new ETFs add defensive bench strength to our growing line up of products," said Michael Kovacs, President and CEO of Harvest. "Arguably, we are in late innings of the economic cycle, so it makes sense to prepare a portfolio with more defensive products; both quality and established Utility and Gold issuers can help fill that ticket."
HUTL seeks 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.
HGGG seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Solactive Global Gold Giants Index TR. HGGG primarily invests in large gold mining issuers that are listed on a regulated stock exchange in North America, Australia or in certain European countries.
Harvest, a registered investment fund manager and portfolio manager, will act as promoter, trustee, manager and portfolio manager of HUTL and HGGG and will be responsible for the administration of HUTL and HGGG.
About Harvest Portfolios Group Inc.
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.
A preliminary prospectus containing important information relating to securities of the Harvest Equal Weight Global Utilities Income ETF and the Harvest Global Gold Giants Index ETF has been filed with the securities commissions or similar authorities in all provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. A copy of the preliminary prospectus is available on SEDAR (www.sedar.com). There will not be any sale or acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
Commissions, management fees, and expenses all may be associated with ETFs. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated.
SOURCE Harvest Portfolios Group Inc.
For further information: Please visit www.harvestportfolios.com, e-mail [email protected] or call toll free 1-866-998-8298.