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Harvest Announces Listing of Harvest Diversified Equity Income ETFHarvest Portfolios Group Inc. ("Harvest") is pleased to announce the completion of the initial offering of Class A Units of the Harvest Diversified Equity Income ETF pursuant to a prospectus dated April 4, 2023, filed with the securities regulatory authorities in all of the Canadian provinces and territories. The Class A Units of the Harvest Diversified Equity Income ETF will commence trading on the TSX today under the following ticker symbol: HRIF:TSX. HRIF holds an equal weight portfolio of Harvest Equity Income ETFs. Each of its underlying ETFs uses an active & flexible covered call option writing strategy to generate an amplified distribution yield. HRIF receives that income from the underlying ETFs and distributes it as a high monthly cash distribution without any additional management fees. The ETF is launching with an initial target yield of 8%. The first monthly distribution will have a record date of May 31, 2023 with a payable date of June 9, 2023. HRIF holds the same equal weight underlying portfolio as the Harvest Diversified Monthly Income ETF (HDIF:TSX), launched in 2022. HDIF uses a leverage component at approximately 25%. HRIF will have no leverage, giving access to the same popular diversified portfolio of equity income ETFs without the addition of leverage-related risk. "HRIF gives Canadians access to high monthly income from a portfolio of ETFs, each of which hold leading global businesses." said Michael Kovacs, President and CEO of Harvest. "They get that high income, and exposure to those businesses, without any additional leverage. We're pleased to offer this strategy to investors and advisors who see the value of owning great businesses and earning covered call option income without the use of leverage" To learn more about HRIF watch this video or read this article about the ETF. Investment Objective Harvest Diversified Equity Income ETF seeks to provide Unitholders with high monthly cas distributions and the opportunity for capital appreciation by investing, on a non-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. For additional information: Please visit www.harvestportfolios.com, e-mail [email protected] or call toll free 1-866-998-8298.
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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.
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