Oakville, Ont.-based Harvest Portfolios Group Inc. announced on Monday that it has converted four of its closed-end funds into exchange-traded funds (ETF).
> Brand Leaders Plus Income Fund, which is now Brand Leaders Plus Income ETF
> Healthcare Leaders Income Fund, which is now Healthcare Leaders Income ETF
> U.S. Buyback Leaders Fund, which is now U.S. Buyback Leaders ETF
> Energy Leaders Plus Income Fund, which is now Energy Leaders Plus Income ETF
The conversions of the funds were completed following the filing of a final prospectus with regulatory authorities and the receipt of approval from the funds’ unitholders. The new ETFs are currently trading on the Toronto Stock Exchange.
“Harvest Portfolios … believes that the conversions will benefit existing unitholders of the funds because, as ETFs, the funds will offer greater market liquidity and efficient trading as well as participation in potential benefits from economies of scale through the continuous offering of units,” the firm’s press release states.
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