A preliminary prospectus for Global Advantaged Telecom & Utilities Income Fund has been filed with Canadian securities regulators, Harvest Portfolios Group Inc. says.

The fund has been established to provide investors with exposure to an actively managed portfolio comprised primarily of equities of global telecom issuers and global utilities issuers, says Harvest Portfolios Group Inc., the closed end fund’s manager.

Avenue Investment Management Inc., the fund’s investment manager, will be responsible for the execution of the fund’s overall investment strategy, including managing the composition of the portfolio.

The fund proposes to issue units at a price of $12.00 per unit. Each unit consists of one transferable trust unit and one trust unit purchase warrant. The units will separate into trust units and warrants upon the earlier of the closing of the over-allotment option and the 30th day following the closing of the offering. Each warrant entitles the holder to purchase one trust unit at the subscription price of $12.00 per trust unit before 17:00 ET on March 30, 2012.

The fund’s investment objectives are to provide unithholders with tax-advantaged monthly distributions; and capital appreciation.

The fund’s initial distribution target is $0.06 per trust unit per month ($0.72 per year representing an annual cash distribution of 6% based on the $12.00 per unit issue price).

The syndicate of agents is being co-led by BMO Capital Markets and CIBC, and includes Scotia Capital Inc., HSBC Securities (Canada) Inc., National Bank Financial Inc., Canaccord Genuity Corp., Desjardins Securities Inc., Dundee Securities Corporation, Raymond James Ltd., Wellington West Capital Markets Inc., Industrial Alliance Securities Inc., Mackie Research Capital Corporation and Macquarie Private Wealth Inc.

IE