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CASH

Horizons High Interest Savings ETF

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$50.03
$0.00
0.00%
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$50.0000
$-0.1341
-0.27%

Benchmark

Fixed Income

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QQCC

Horizons NASDAQ-100 Covered Call ETF

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$4.71
$-0.09
-1.88%
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$-0.0990
-2.05%

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Covered Call

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HRAA

Horizons ReSolve Adaptive Asset Allocation ETF

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$11.13
$0.01
0.09%
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$11.1590
$-0.0250
-0.22%

Active

Corporate Class – Alternative

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Back to Learning

How High Can The Preferred Share Market Go?

By
Jeff Lucyk
Nicolas Normandeau

This Webinar Covers:

  • Preferred Shares: Then and Now.
  • What are Limited Recourse Capital Notes?
  • The Outlook for Preferred Shares.
  • Discussing HYBR and Preferred Shares: Then and Now.
  • What are Limited Recourse Capital Notes?
  • The Outlook for Preferred Shares.
  • Discussing HYBR and its portfolio changes.

This webinar features Fiera Capital’s Nicolas Normandeau, who oversees the primary 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 January 31, 2021)

With the introduction of new debt vehicles like Limited Recourse Capital Notes — which are 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 will go through his outlook on the fixed income market and his views on preferred shares for the remainder of 2021.

Mr. Normandeau will also discuss the Horizons Active Hybrid Bond and Preferred Share ETF (TSX:HYBR), previously the Horizons Active Floating Rate Preferred Share ETF (TSX:HFP).The ETF’s investment objective was recently expanded to invest in LRCNs and hybrid corporate debt, providing investors with greater exposure to the evolving fixed income universe. 

Jeff Lucyk

Senior Vice-President, Head of Retail Sales, Horizons ETFs

Jeff Lucyk is Senior Vice-President, Head of Retail Sales for Horizons ETFs. Mr. Lucyk is responsible for managing and leading the sales team to identify new business opportunities and enhancing the growth of the firm. He was formerly the Vice-President, National Sales Manager at Norrep Investments. Mr. Lucyk graduated from Brock University with an Honours Degree in Business Administration and holds the Chartered Alternative Investment Analyst (CAIA) designation.

Nicolas Normandeau

Vice-President and Portfolio Manager, Fixed Income, Fiera Capital

Nicolas Normandeau is a member of the Integrated Fixed Income team and is a portfolio manager for the Integrated Fixed Income strategies, including the team’s Preferred Shares portfolios. Mr. Normandeau has 18 years of industry experience and has been with the firm and a predecessor since 2009. Prior experiences include positions as Wealth Management Analyst for a leading Canadian financial institution and a consulting firm. Mr. Normandeau graduated from the Université de Sherbrooke with a Bachelor of Business Administration (BBA), majoring in Finance. He later received a Master’s in Management degree (MSc) in Finance from the Université de Sherbrooke as well as the Chartered Financial Analyst (CFA) designation.

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Fixed Income

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