Fund news and updates

Fund news and updates

Harvest’s unhedged ETFs, Auspice closes oil ETF, TSX makes ETF history


* Harvest launches Class B Units of three ETFs. Harvest Portfolios Group Inc. launched Class B Unhedged Units of three ETFs that target lower overall volatility by writing covered call options on up to 33% of the portfolio securities, based on market volatility and other factors.

* Harvest Healthcare Leaders Income ETF (TSX: HHL.B)
* Harvest Brand Leaders Plus Income ETF (TSX: HBF.B)
* Harvest Tech Achievers Growth & Income ETF (TSX: HTA.B)

“We want to give investors as much flexibility as possible when investing in our core Equity Income Strategies. With the new Class B Unhedged Units, one can choose the underlying ETF in hedged, unhedged or USD.” said Michael Kovacs, President and CEO of Harvest.

* Auspice shuts down crude oil ETF. Auspice Capital Advisors Ltd. announced on March 12 that it will be closing its Canadian Crude Oil Index ETF (TSX: CCX) effective May 22, 2020.

“While the CCX was the top performing ETF in 2019 and has played an innovative role as the only way for investors to trade the price of Canadian heavy-oil along with creating financial liquidity for the market, the current economic and political environment has made it uneconomic for the CCX to persist,” said Tim Pickering, CIO and founder of Auspice.

* Marking the 30th anniversary of world’s first ETF. Toronto Stock Exchange on March 9 celebrated the 30th anniversary of the launch of the world’s first exchange traded fund (ETF). Listed on the TSX in 1990, the Toronto 35 Index Participation Units (TIPs) was the world’s first exchange-traded, index-linked product and served as the prototype for the modern-day ETF. Over the years, the original TIPs product has evolved into what is known today as the iShares S&P/TSX 60 Index ETF (TSX: XIU), the largest Canadian-domiciled ETF with over $9.2 billion in assets under management, and among the top five most actively traded ETFs on TSX. In total, to Jan. 31, Canada’s ETF market has grown to 766 funds offered by 37 sponsors with $211 billion in assets under management. Globally, the ETF market has grown to US$6.37 trillion in assets under management as of Jan. 31.

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