Harvest Portfolios Group Inc. (“Harvest”) is pleased to announce the completion of the initial offering of Class A and U Units of the Harvest Premium Yield 7-10 Year Treasury ETF and Class A Units of the Harvest Canadian T-Bill ETF pursuant to a prospectus dated January 8, 2024, filed with the securities regulatory authorities in all of the Canadian provinces and territories. The Class A and U Units of the Harvest Premium Yield 7-10 Year Treasury ETF will commence trading on the Toronto Stock Exchange (“TSX”) today under the following ticker symbols: HPYM:TSX (“HPYM”) and HPYM.U:TSX (“HPYM.U”) respectively. The Class A units of the Harvest Canadian T-Bill ETF will commence trading on the TSX today under the following ticker symbol: TBIL:TSX (“TBIL”).
Harvest is also pleased to announce the completion of the initial offering of Class U Units of the Harvest Premium Yield Treasury ETF pursuant to a prospectus dated September 22, 2023, as amended on November 24, 2023, filed with the securities regulatory authorities in all of the Canadian provinces and territories. The Class U units of the Harvest Premium Yield Treasury ETF will commence trading on the TSX today under the following ticker symbol: HPYT.U:TSX (“HPYT.U”).
Distribution Announcement
HPYM will pay a monthly distribution of $0.08 CAD per Class A Unit and HPYM.U will pay a monthly distribution pf $0.08 USD per unit Class U Unit and the first monthly distribution will be paid on or about March 8, 2024 to unitholders of record on February 29, 2024 with an ex-dividend date of February 28, 2024.
TBIL will pay a monthly distribution and the first distribution will be paid on or about February 9, 2024 to unitholders of record on January 31, 2024 with an ex-dividend date of January 31, 2024.
HPYT.U will pay a monthly distribution of $0.15 USD per Class U Unit and the first monthly distribution will be paid on or about March 8, 2024 to unitholders of record on February 29, 2024 with an ex-dividend date of February 28, 2024.
“Harvest is pleased to add these new ETFs to our line up of fixed income ETFs. By applying our extensive option writing expertise to HPYM, we believe HPYM can provide an attractive yield for Canadian Investors. TBIL provides a straightforward low risk income solution for Canadian investors.” said Michael Kovacs, President and CEO of Harvest. “After HPYT’s strong launch in Q4 of 2023, adding HPYT.U provides investors the ability to invest directly with US dollars.”
Investment Objectives
HPYM will seek to provide high monthly cash distributions to Unitholders by investing, on a non-levered basis, in a portfolio of exchange traded mutual funds, selected by the Manager, that provide exposure primarily to intermediate term U.S. treasury bonds and are listed on a regulated stock exchange in North America. Harvest Premium Yield 7-10 Year Treasury ETF will generally write covered call options on up to 100% of the portfolio securities. The level of covered call option writing may vary based on market volatility and other factors.
TBIL will seek to provide interest income through exposure to Government of Canada Treasury Bills with remaining maturities generally less than 3 months.
HPYT will seek to provide high monthly cash distributions to Unitholders by investing, on a non-levered basis, in a portfolio of exchange traded mutual funds, selected by the Manager, that provide exposure primarily to longer-dated U.S. treasury bonds and are listed on a regulated stock exchange in North America. Harvest Premium Yield Treasury ETF will generally write covered call options on up to 100% of the portfolio securities. The level of covered call option writing may vary based on market volatility and other factors.
For additional information: Please visit www.harvestportfolios.com, e-mail info@harvestetfs.com or call toll free 1-866-998-8298.
Investment Dealers can access and download certain regulatory documents relating to HPYM, HPYM.U, TBIL and HPYT.U such as the ETF Facts and prospectus via the Harvest website at https://harvestportfolios.com.
About Harvest Portfolios Group Inc.
Founded in 2009, Harvest is an independent Canadian Investment Fund Manager managing $3.8 billion as at December 31, 2023 in assets for Canadian Investors. Harvest Fixed Income ETFs provide investors the opportunity to invest in intermediate to long-duration US Treasury bonds, and short-term treasury bills (T-Bills) of the Government of Canada. These are among the safest long-term and short-term bonds, as they are backed by the full faith and credit of the US and Canadian, Governments, respectively. To provide investors access to intermediate to longer-duration US Treasury bonds, we assembled two separate portfolios of US Treasury ETFs, one targeting exposure to intermediate duration US Treasury bonds and the other targeting exposure to long duration US Treasury bonds. Moreover, we employ an active covered call options strategy with up to 100% write level on each portfolio to generate high income for unitholders. For Investors looking for exposure to low duration bonds and low-risk monthly cash flow, we offer a money market ETF that invests directly in the Government of Canada T-Bills.
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For Additional Information:
Website: https://harvestportfolios.com
E-mail: info@harvestetfs.com
Toll free: 1-866-998-8298
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