OAKVILLE, ON, Jan. 15, 2019 /CNW/ - Harvest Portfolios Group
Inc. ("Harvest") is pleased to announce the completion of the
initial offering of Class A Units of the Harvest Global Gold Giants
Index ETF pursuant to a prospectus dated January 07, 2019, filed with the securities
regulatory authorities in all of the Canadian provinces and
territories. The Class A Units of the Harvest Global Gold Giants
Index ETF will commence trading on the Toronto Stock Exchange
("TSX") today under the following ticker symbol: HGGG:TSX.
The Harvest Global Gold Giants Index ETF ("HGGG") seeks to
replicate, to the extent reasonably possible and before fees and
expenses, the performance of the Solactive Global Gold Giants Index
TR. The Harvest Global Gold Giants Index ETF primarily invests
in large gold mining issuers that are listed on a regulated stock
exchange in North America,
Australia or in certain European
countries.
HGGG is a new defensive focused ETF that invests in global gold
companies and is targeted at advisors and investors who are
concerned that we are in the late stage of an economic cycle and
that the US dollar may weaken.
"As we move into late innings in a strong US economy and hot US
growth, opportunities may arise to be more defensive in one's
investment portfolio", explains Michael
Kovacs, President and CEO of Harvest. "We have been watching
the gold market for some time, especially gold market shares. They
have been in a bear market since 2012 which is why we see
considerable value in them now. HGGG will invest in the largest
global gold producers to benefit from margin expansion as gold
prices increase. We believe these companies are profitable at
current gold prices and have a positive earnings and price
correlation as the metal rises in value. HGGG allows an investor to
diversify across top industry names and reduce single stock risk
that has become more evident in recent markets".
HGGG will track 20 equally weighted positions of the Solactive
Global Gold Giants Index TR. "The gold market and gold mining
producers have been in a long decline lasting almost 7 years
bringing values down considerably from the highs of 2011/12, the
Gold Giants have been able to take advantage of these prices to
acquire or partner with smaller producers to expand their reserves
and production. Large acquisitions such as Randgold by Barrick in
late 2018 is another example of industry consolidation which is an
indication of a market bottom." notes Kovacs. "This is a truly
unique ETF as other products are either focused on holding bullion,
or a combination of various market caps and bullion. Some ETFs have
as many as 150 holdings. HGGG will only hold the top 20 and the
largest market leaders of the industry based on market
capitalization. With a competitive management fee of 40 basis
points (0.40%), HGGG provides a very affordable way to access
investment in this mandate."
Founded in 2009, Harvest Portfolios Group Inc. is a Canadian
Investment Fund Manager which offers an innovative suite of
exchange traded funds, mutual funds and publicly-listed structured
products designed to satisfy the long-term growth and income needs
of investors. We pride ourselves in creating trusted
investment solutions that meet the expectations of our
investors.
You will usually pay brokerage fees to your dealer if you
purchase or sell units of the Fund(s) on the TSX. If the units are
purchased or sold on the TSX, investors may pay more than the
current net asset value when buying units of the Fund(s) and may
receive less than the current net asset value when selling them.
There are ongoing fees and expenses associated with owning units 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 fund. You can find more detailed
information about the fund in these documents.
SOURCE Harvest Portfolios Group Inc.