Oakville, Ont.-based Harvest Portfolios Group Inc. has completed the initial offering of Class A units of Harvest Banks & Buildings Leaders Income ETF, pursuant to a prospectus dated Jan. 26.
The units began trading on the Toronto Stock Exchange on Thursday under the ticker symbol HCBB.
The fund’s investment objectives are to create monthly income and maximize total returns by investing mainly in a portfolio of banking issuers, other financial issuers and real estate related to companies and real estate investment trusts listed on a recognized stock exchange in North America.
“We want to provide our Canadian investors with convenient and lower cost access to our running income strategy,” says Michael Kovacs, president and CEO of Harvest, in a statement. “The new ETF is based on the Harvest Banks & Buildings Income mutual fund, a popular strategy designed in 2009, for investors seeking income and potential capital appreciation.”