What's Next For Preferred Shares?

By Horizons ETF by Mirae

This webinar features Fiera Capital’s Nicolas Normandeau who oversees the portfolio management of the Horizons Active Preferred Share ETF (TSX: HPR), currently the largest actively managed preferred share ETF listed in Canada by assets under management (Source: Morningstar, as at June 30, 2021).

With the introduction of new debt vehicles like Limited Recourse Capital Notes —increasingly replacing preferred shares as the instrument of choice — the fixed income market has changed considerably.

Hybrid securities such as preferred shares, hybrid bonds and LRCNs, which pay out a floating rate of yield, are benefitting from the upward pressure on interest rates. Mr. Normandeau goes through his outlook on the fixed income market and his views on preferred shares for the remainder of 2021 and beyond. This webinar covers: - Preferred Shares: Then and Now - What are Limited Recourse Capital Notes? - The Outlook for Preferred Shares - Portfolio Positioning in the face of COVID-19 and Volatility

What's Next For Preferred Shares?

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