Fixed-income fund offers exposure to investment-grade corporate debt with an eye on specific ESG factors
Harvest Portfolios Group has announced a new investment-grade bond ETF that incorporates an ESG screening process.
Pursuant to a prospectus dated January 7 filed with securities regulators across Canada, Harvest has completed its initial offering of Class A Units of the Harvest US Investment Grade Bond Plus ETF. The ETF is trading on the TSX under the symbol HUIB.
HUIB aims to provide unitholders with monthly cash distributions and the opportunity for capital appreciation. It invests primarily in investment-grade corporate debt that’s denominated in U.S. dollars, or issued by companies that do substantial business or are based in the U.S.
Harvest has retained Amundi Canada to sub-advise HUIB. Amundi Canada will engage its U.S. affiliate, Amundi Pioneer Institutional Asset Management, to perform day-to-day investment management of the ETF.
“We are pleased to partner with Amundi Canada to launch the Harvest US Investment Grade Bond Plus ETF with specific ESG factors that help provide the corporate quality investors are seeking today,” said Harvest President and CEO Michael Kovacs.
According to the company website, HUIB is “actively managed by US Investment Grade Credit specialists with a global ESG screening process in place.” The fund is said to focus on credit analysis with a BBB+ average portfolio rating.