Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc.
Australian REIT Income Fund

Australian REIT Income Fund

October 01, 2014 16:54 ET

Harvest Portfolios Group Inc. to Assume Responsibilities as Investment Advisor in Respect of the Fund's Currency Hedging for the Australian REIT Income Fund

OAKVILLE, ONTARIO--(Marketwired - Oct. 1, 2014) -


Harvest Portfolios Group Inc. (the "Manager"), the manager of the Australian REIT Income Fund (TSX:HRR.UN) (the "Fund"), announced today that on or around December 31, 2014 (the "Effective Date") the Manager will replace Avenue Investment Management Inc. as the Investment Advisor for the currency hedging strategy of the Fund. Avenue continues to act as the portfolio manager for a number of funds in the Harvest family of funds.

Paul MacDonald, who is registered as an advising representative of the Manager, has in-depth knowledge and understanding of the Fund's daily operations and currency hedging needs and will be responsible for providing investment advice for the currency hedging strategy. Macquarie Private Portfolio Management Limited continues to be the portfolio manager of the Fund.

The independent review committee of the Fund has provided a positive recommendation that bringing the investment advisory services for the currency hedging strategy of the Fund in-house provides a fair and reasonable result for the Fund.

For more information on funds managed by Harvest Portfolios Group Inc., please visit our website at www.harvestportfolios.com.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Fund. The forward-looking statements are not historical facts but reflect the Fund's and Harvest Portfolios Group Inc.'s (the "Manager"), current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including, but not limited to, market factors. Although the Fund and the Manager believe that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Fund and the Manager undertake no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

Contact Information