Harvest Announces Listing of Harvest ESG Equity Income Index ETF (HESG)
Harvest Portfolios Group Inc. (Harvest) announced the completion of the initial offering of Class A Units of the Harvest ESG Equity Income Index ETF under a prospectus filed with securities regulatory authorities in all Canadian provinces and territories on August 30, 2022.
HESG provides Canadian investors with a portfolio of equities chosen through a structured ESG process that generates high monthly income through Harvest's active and flexible covered call strategy.
The ETF will begin with a target yield of 7.0%. The first monthly distribution will be paid on November 9, 2022, with a record date of October 31, 2022.
HESG tracks the Solactive ESG US Equity Index TR, which employs SRI and ESG criteria, before choosing the 30 largest companies in its ESG universe by market capitalisation.
The ETF invests in large-cap leaders from a wide range of subsectors that have been selected and evaluated using the index's ESG and SRI approach.
Michael Kovacs, President and CEO of Harvest, said:
"ESG investments are increasingly popular among Canadian investors who want their portfolios to match their values. HESG fills a key gap in the Canadian market by generating steady monthly income with a high initial target yield from an ESG portfolio.”
Source: Business Wire