Examples of Harvest ETF in a sentence
MMJ uses the Alternative Harvest ETF (ticker symbol MJ) as its investment benchmark for the MMJ portfolio as it is a highly liquid portfolio trading in the North American market (where most of MMJ’s holdings are based).
The Harvest ETFs are reporting issuers under the Securities Act (Ontario) and are governed by the laws of Ontario by virtue of the provisions of the Declaration of Trust.Each Unit of a Harvest ETF entitles the owner to one vote at meetings of Unitholders.
In addition, each Harvest ETF has the authority to distribute, allocate and designate any capital gains of the Harvest ETF to a Unitholder who has redeemed Units during a year in an amount equal to the Unitholder’s share, at the time of redemption, of the Harvest ETF’s capital gains for the year.
IAS 32 “Financial Instruments: Presentation” requires that units of the Harvest ETF, which are considered puttable instruments, be classified as either financial liabilities or equity instruments and presented at redemption amount.
In accordance with the objectives outlined in Note 1 and the risk management policies in Note 4, the Harvest ETF endeavours to invest the subscriptions received in appropriate investments while maintaining sufficient liquidity to meet redemptions.
As a result, the Harvest ETF units contain multiple contractual obligations and are presented as financial liabilities as they do not meet the criteria for classification as equity.
The Harvest ETF maintains sufficient cash on hand to fund anticipated redemptions.
Credit risk The Harvest ETF is exposed to credit risk, which is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation.
In addition, higher traffic volume from PLUS has also contributed to the improvement in PBT.
Liquidity risk Liquidity risk is the risk that the Harvest ETF will encounter difficulty in meeting obligations associated with financial liabilities.