Limited Duration Investment Grade Preferred Securities Fund Receives Approval for Normal Course Issuer Bid

Limited Duration Investment Grade Preferred Securities Fund (the “Fund”) (TSX: PFD.UN) has received approval for a normal course issuer bid to purchase up to 277,842 Class A Units (the “Units”) of the Fund, representing approximately 10% of the public float of 2,778,426 Units. The Fund may purchase up to 55,568 Units in any 30 day period which is 2% of the 2,778,426 issued and outstanding Units as at June 16, 2016.

The Units may be purchased for cancellation from June 29, 2016 to June 28, 2017 through the facilities of the Toronto Stock Exchange or Canadian alternative trading systems and may only be purchased at a price per Unit which is less than the last published net asset value per Unit. Purpose Investments Inc., the Manager of the Fund, believes that such purchases are in the best interest of the Fund and are a desirable use of its available funds.

On June 24, 2015, the Company announced that it was making a normal course issuer bid, which commenced June 29, 2015, to purchase up to 346,941 Class A Units through the facilities of the TSX or Canadian alternative trading systems. The Company repurchased 131,400 Class A Units at a weighted average price of $21.41 per unit under the bid, which expires on June 28, 2016.

The Class A Units of the Fund are listed for trading on the Toronto Stock Exchange under the symbol PFD.UN.

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