Toronto-based Harvest Portfolios Group Inc. announced on Friday that it has made changes to the risk ratings of certain Harvest ETFs and that it will terminate an ETF.
The risk rating for Harvest U.S. Bank Leaders Income ETF an Harvest Global Resource Leaders ETF will increase to “high” from “medium to high.”
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Meanwhile, the risk rating for Harvest European Leaders Income ETF will increase to “medium to high” from “medium.”
Altough no changes have been made to these ETFs’ investment objectives or strategies, Harvest will terminate Harvest European Leaders Income ETF effective at the close of business on March 21. Effective Jan. 25, no further direct subscriptions for fund units will be accepted.
The last date on which a redemption may be placed with Harvest is expected to be the termination date of March 21. The ETF is expected to be delisted from the Toronto Stock Exchange at the close of business on or about that date. All units still held by investors will then be redeemed.