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Harvest files to launch income ETFs


Harvest Portfolios Group Inc has announced that it has filed a preliminary prospectus with the Canadian securities regulators for the Harvest Diversified Equity Income ETF (“HRIF”) and the Harvest Travel & Leisure Income ETF (“TRVI”). These ETFs are designed to provide Canadian investors access to innovative investment portfolios with monthly income.

“Harvest continues to introduce unique equity income ETFs that add value for Canadian Investors as they seek monthly income products with growth objectives,” says Michael Kovacs, President and CEO of Harvest. “The new Harvest Diversified Equity Income ETF (HRIF) provides investors with attractive monthly income through an equally weighted basket of Harvest ETFs without leverage.”

HRIF seeks to provide Unitholders with high monthly cash 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.

“We are also pleased to provide an income product based on the successful Harvest Travel & Leisure Index ETF portfolio. A first in Canada and now with the ability to generate attractive monthly income,” says Kovacs. “The Travel & Leisure sector is experiencing a strong rebound since the pandemic as pent-up demand drives higher travel activity in a sector that already has great growth dynamics behind it.”

TRVI seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Solactive Travel & Leisure Index and to provide holders of Units with monthly cash distributions. Harvest Travel & Leisure Income ETF primarily invests in, directly or indirectly, the equity constituents of the Solactive Travel & Leisure Index, or any successor thereto, while writing 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.

Harvest, a registered investment fund manager and portfolio manager, will act as promoter, trustee, manager and portfolio manager of HRIF and TRVI and will be responsible for the administration of HRIF and TRVI.

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