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Press

Purpose Investments to Cap Purchases for its Successful Purpose Premium Money Market Fund

Purpose Investments, Inc. (“Purpose”) is pleased to announce that it will place a cap on new purchases for Purpose Premium Money Market Fund (“the Fund”). The Fund has attracted a significant amount of assets and reached our internal asset goals much more quickly than expected. This cap will go into effect upon the Fund reaching $350-million in assets under management. The Fund currently has approximately $320-million in assets under management.

As an innovative money market product that provides an exceptional yield, the Fund has seen significant inflows in recent months. To preserve the effectiveness for existing shareholders, Purpose will close the Fund to new purchases once it reaches $350-million in assets under management. Existing client accounts will not be impacted by the cap, up to a hard cap of $400-million.

Purpose offers an industry-leading suite of innovative cash solutions to help investors build resilient portfolios, manage their short-term liquidity needs and reach their long-term financial goals.

For Canadian cash needs, Purpose High Interest Savings ETF (ETF ticker PSA) currently has a net yield of 2.15%. It provides daily liquidity and a monthly interest distribution. It recently surpassed $1-billion in assets under management and continues to draw attention as the rate rises alongside benchmark interest rates.

For US cash needs, Purpose US Cash Fund (ETF ticker PSU.U) currently has a net yield of 2.08%. It provides daily liquidity and a monthly interest distribution.

The innovative features of Purpose’s best-in-class cash solutions are also available within our active fixed-income lineup to help investors overcome the challenges of the market in a rising-interest-rate environment.

Purpose Managed Duration Investment Grade Bond Fund (“IGB”) is available as an exchange-traded fund (ETF ticker IGB) and as a mutual fund. IGB currently pays a monthly distribution of 3.00% per annum in form of return on capital and/or capital gains. It is actively managed by Sandy Liang, the award-winning head of credit strategies and fixed income at Purpose Investments. IGB has a unique and alternative approach focusing on managing duration and credit risks, which are major obstacles for investors in today’s fixed-income environment.

 

About Purpose Investments

Purpose Investments is an asset management company with approximately $6.3 billion under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.

 

For further information please contact:

Matt Padanyi

Purpose Investments Inc.
Tel: (877) 789-1517
Email: info@purposeinvest.com

This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. This press release is not for dissemination in the United States or for distribution to US news wire services.
Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Purpose Investments Inc. Announces October Distributions

Purpose Investments Inc. is pleased to announce the following distributions for the month of October 2018. The ex-distribution date for all ETFs is October 26, 2018, with the exception of Purpose High Interest Savings ETF and Purpose US Cash ETF, which have an ex-distribution date of October 31, 2018. The ex-distribution date for all closed-end funds is October 30, 2018.

Open-End Funds Ticker Symbol Distribution per share/unit Record Date Payable Date Distribution Frequency
Purpose Core Dividend Fund – ETF Series PDF $ 0.08501 10/29/2018 11/07/2018 Monthly
Purpose Enhanced Dividend Fund – ETF Series PDIV $ 0.05221 10/29/2018 11/07/2018 Monthly
Purpose Total Return Bond Fund – ETF Series PBD $ 0.05861 10/29/2018 11/07/2018 Monthly
Purpose Duration Hedged Real Estate Fund – ETF Series PHR $ 0.08001 10/29/2018 11/07/2018 Monthly
Purpose Monthly Income Fund – ETF Series PIN $ 0.08301 10/29/2018 11/07/2018 Monthly
Purpose Premium Yield Fund – ETF Series PYF $ 0.08301 10/29/2018 11/07/2018 Monthly
Purpose Canadian Financial Income Fund – ETF Series BNC $ 0.08501 10/29/2018 11/07/2018 Monthly
Purpose Conservative Income Fund – ETF Series PRP $ 0.05401 10/29/2018 11/07/2018 Monthly
Purpose International Dividend Fund – ETF Units PID $ 0.0780 10/29/2018 11/07/2018 Monthly
Purpose US Dividend Fund – ETF Units PUD $ 0.0650 10/29/2018 11/07/2018 Monthly
Purpose US Dividend Fund Non-Currency Hedged – ETF Units PUD.B $ 0.0760 10/29/2018 11/07/2018 Monthly
Purpose Tactical Investment Grade Bond Fund – ETF Units BND $ 0.0630 10/29/2018 11/07/2018 Monthly
Purpose Short Duration Tactical Bond Fund – ETF Units SBND $ 0.0600 10/29/2018 11/07/2018 Monthly
Purpose High Interest Savings ETF PSA $ 0.0862 10/31/2018 11/07/2018 Monthly
Purpose US Cash ETF PSU.U US$ 0.1865 10/31/2018 11/07/2018 Monthly
Purpose Strategic Yield Fund – ETF Units SYLD $ 0.0970 10/29/2018 11/07/2018 Monthly
Purpose Multi-Asset Income Fund – ETF Units PINC $ 0.0840 10/29/2018 11/07/2018 Monthly
Purpose Managed Duration Investment Grade Bond Fund – ETF Units IGB $ 0.05001 10/29/2018 11/07/2018 Monthly
Purpose Canadian Preferred Share Fund – ETF Units RPS $ 0.0950 10/29/2018 11/07/2018 Monthly
Purpose Core Equity Income Fund – ETF Series RDE $ 0.06661 10/29/2018 11/07/2018 Monthly
Purpose US Preferred Share Fund – ETF Units RPU $ 0.0940 10/29/2018 11/07/2018 Monthly
Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units2 RPU.B / RPU.U $ 0.0940 10/29/2018 11/07/2018 Monthly
Purpose Emerging Markets Dividend Fund – ETF Units REM $ 0.0403 10/29/2018 11/07/2018 Monthly
Purpose Energy Credit Fund – ETF Units PCF $ 0.0350 10/29/2018 11/07/2018 Monthly
Purpose Energy Credit Fund – Non-Currency Hedged – ETF Units PCF.U US$ 0.0359 10/29/2018 11/07/2018 Monthly
Purpose Floating Rate Income Fund – ETF Units FLOT $ 0.0312 10/29/2018 11/07/2018 Monthly
Purpose Floating Rate Income Fund – Non-Currency Hedged USD – ETF Units FLOT.U US$ 0.0371 10/29/2018 11/07/2018 Monthly
Purpose Floating Rate Income Fund – Non-Currency Hedged – ETF Units FLOT.B $ 0.0352 10/29/2018 11/07/2018 Monthly
Purpose Global Financials Income Fund – ETF Units PFG $ 0.0468 10/29/2018 11/07/2018 Monthly
 

 

Closed-End Funds Ticker Symbol Distribution

per share/unit

Record Date Payable Date Distribution Frequency
Investment Grade Managed Duration Income Fund – Class T PFU.UN $ 0.0417 10/31/2018 11/15/2018 Monthly
U.S. Banks Income & Growth Fund – Class T PUB.UN $ 0.0417 10/31/2018 11/15/2018 Monthly
U.S. Banks Income & Growth Fund – Class A2 unlisted $ 0.0417 10/31/2018 11/15/2018 Monthly
Canadian Investment Grade Preferred Share Fund (P2L) – Class T RIGP.UN $ 0.1146 10/31/2018 11/15/2018 Monthly
Canadian Investment Grade Preferred Share Fund (P2L) – Class A unlisted $ 0.1146 10/31/2018 11/15/2018 Monthly
  1. Dividend is designated as an “eligible” Canadian dividend for purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.
  2. Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units have both a CAD and USD purchase option. Distribution per unit is declared in CAD, however, the USD purchase option (RPU.U) distribution will be made in the USD equivalent. Conversion into USD will use the end-of-day foreign exchange rate prevailing on the ex-distribution date.

About Purpose Investments Inc.

 

Purpose Investments is an asset management company with approximately $6.3 billion under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.

 

For further information please contact:

Matt Padanyi

Purpose Investments Inc.
Tel: (877) 789-1517
Email: info@purposeinvest.com

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Purpose Investments Inc. Wins Twice for Best Returns at the 2018 Canadian Hedge Fund Awards

Purpose Investments Inc. (“Purpose”), is very pleased to announce the recognition of two of its alternative funds at the 2018 Canadian Hedge Fund Awards, which was held the evening of October 16 at a gala dinner with 145 guests in attendance in downtown Toronto. The awards are judged strictly on one-year performance, from June 2017 through June 2018.

Purpose Credit Opportunities Fund (“the Fund”) won the award for Best 1 Year Return in the Credit Focused category. The Fund is actively managed by our partner Sandy Liang, who leads credit strategies and fixed income at Purpose Investments. Purpose Credit Opportunities Fund posted an annualized return over the judging period of 12.29%, well ahead of the 4.43% annualized return of the HFRI Credit Index. The Fund combines active, bottom-up credit research with risk management through the use of various hedging tools to generate income while reducing volatility without the use of leverage. It is available for accredited investors through an offering memorandum in Series A (LGQ780) and Series F (LGQ781) through FundServ. Since its inception on June 30, 2014, Purpose Credit Opportunities Fund (Series F) has generated an annualized return of 10.67%.

Purpose Multi-Strategy Market Neutral Fund (“PMM”) won the award for Best 1 Year Return in the Market Neutral category. PMM is managed in partnership with Neuberger Berman Breton Hill LLC, who have more than 20 years of experience running market neutral strategies for institutional clients. Since the founding of Purpose, the partnership with Neuberger Berman Breton Hill has been crucial to developing and making unique risk-managed and alternative investment prospectus-based products available to all investors. Purpose Multi-Strategy Market Neutral Fund posted an annualized return over the judging period of 10.77%, ahead of the 4.98% annualized return of the HFRI Equity Market Neutral Index. PMM employs classic hedge fund investment strategies such as long/short equity, and momentum and carry themes within currencies and commodities. It is available in ETF shares on the Toronto Stock Exchange under the ticker symbol “PMM.” It is also available in mutual fund Series A (PFC1400) and Series F (PFC1401) through FundServ. Since its inception on October 10, 2014, Purpose Multi-Strategy Market Neutral Fund (ETF Class) has generated an annualized return of 5.06%.

“We set out five years ago to help change this industry for alternative investments and these awards validate our goal,” said Som Seif, President & CEO of Purpose Investments Inc. “What we’re doing as a company is extremely important, bringing innovation to the investing world. Winning these awards proves our products can compete with and beat the competition. All of our funds are powerful tools to help all types of investors build resilient portfolios to meet their long-term financial goals.”

About Purpose’s family of alternative products

Purpose has been at the forefront of innovation in the alternative investments space, offering them through widely available prospectus-based products since 2013. In addition to the Canadian Hedge Fund Award winners, alternatives with Purpose also include the option-writing strategy, Purpose Premium Yield Fund (ETF ticker PYF), the hedged equity strategies Purpose Tactical Hedged Equity Fund (ETF ticker PHE) and Purpose International Tactical Hedged Equity Fund (ETF ticker PHW), as well Purpose Diversified Real Asset Fund (ETF ticker PRA).

About the Annual Canadian Hedge Fund Awards

The Annual Canadian Hedge Fund Awards were first held in 2008 and have a two-fold objective. First, the awards celebrate the talent and accomplishments of Canada’s hedge fund industry, and second, they draw attention to Canada’s hedge funds by raising the awareness of that expertise in the media and among the wider investment community.

About Purpose Investments

Purpose Investments is an asset management company with approximately $6.3 billion under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.

For further information please contact:

Matt Padanyi

Purpose Investments Inc.
Tel: (877) 789-1517
Email: info@purposeinvest.com

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. This press release is not for dissemination in the United States or for distribution to US news wire services.

Purpose Investments Inc. Confirms the Automatic Conversion of Class A2 Units into Class T Units of Investment Grade Managed Duration Income Fund

Purpose Investments Inc., the manager of Investment Grade Managed Duration Income Fund (the “Fund”), announced today that the Class A2 units of the Fund were automatically converted in accordance with their terms into Class T units effective October 4, 2018. The exchange ratio used for the conversion is 1.034668 Class T units for each Class A2 unit converted. The Class T units are exchange traded under ticker symbol PFU.UN on the Aequitas NEO Exchange. No fractional Class T units or cash in lieu thereof will be issued or paid under the automatic conversion. Unitholder holdings will be updated by the Canadian Depository for Securities Limited and their participant dealers.

About Purpose Investments

Purpose Investments is an asset management company with approximately $6.1 billion under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.

 

For further information please contact:

Matt Padanyi

Purpose Investments Inc.
Tel: (877) 789-1517
Email: info@purposeinvest.com

 

This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. This press release is not for dissemination in the United States or for distribution to US news wire services.
Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Purpose Investments Inc. Announces Name Change for Canadian Investment Grade Preferred Share Fund

Subsequent to the August 30, 2018 press release issued by S&P Global Ratings (“S&P”), Purpose Investments Inc. (“Purpose” or the “Manager”) announces the decision to remove “P2L” from the name and all material related to the Canadian Investment Grade Preferred Share Fund P2L (RIGP.UN) (“the Fund”), which is currently listed on the Aequitas NEO Exchange. The new Fund name will be Canadian Investment Grade Preferred Share Fund. There will be no change to the ticker symbol and CUSIP.  The name change is effective as of September 24, 2018.

The name change does not represent a change in the Fund’s investment strategy, the Fund will continue to be managed in similar manner as before and the Manager does not anticipate a change in the overall credit quality of the portfolio.

“Purpose is a firm focused on innovation and the best possible outcomes for investors,” said Som Seif, President and CEO of Purpose Investments. “As such, we believe retaining the flexibility to hold high-quality securities, irrespective of which agency rates them, is the best course of action. We have not altered the investment strategy of the Fund in any way, and we have no plans to do so. We also continue to believe that the Fund represents a compelling opportunity for investors to diversify their income and lower overall portfolio volatility.”

About Canadian Investment Grade Preferred Share Fund

Canadian Investment Grade Preferred Share Fund’s investment objectives are to (i) provide holders of units (“Unitholders”) with monthly cash distributions; and (ii) maximize the total return to Unitholders over time by investing in an actively managed portfolio comprised primarily of preferred shares of Canadian issuers. A minimum of 80% of the total assets of the Fund will be invested in investment grade securities. The Fund uses the Unit Traded Fund structure, which has been developed to accomplish two goals, namely (a) to enable the Fund to invest virtually all of the gross proceeds from the offering in the portfolio, and (b) to encourage the Fund’s Class T units to trade in the market at a price not less than 98.50% of their net asset value (“NAV”) throughout the life of the Fund.

About Purpose Investments

Purpose Investments is an asset management company with approximately $6.1 billion under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.

For further information please contact:

Nancy Turner
Purpose Investments Inc.
Tel: (877) 789-1517
Email: info@purposeinvest.com

This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. This press release is not for dissemination in the United States or for distribution to U.S. news wire services.

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Purpose Investments Inc. Announces September Distributions

Purpose Investments Inc. is pleased to announce the following distributions for the month of September 2018. The ex-distribution date for all ETFs is September 25, 2018, with the exception of the Purpose High Interest Savings ETF and the Purpose US Cash ETF, which have an ex-distribution date of September 28, 2018. The ex-distribution date for all Closed End Funds is September 27, 2018.

Open-End Funds Ticker Symbol Distribution per share/unit Record Date Payable Date Distribution Frequency
Purpose Core Dividend Fund – ETF Series PDF $ 0.08501 09/26/2018 10/05/2018 Monthly
Purpose Enhanced Dividend Fund – ETF Series PDIV $ 0.05221 09/26/2018 10/05/2018 Monthly
Purpose Total Return Bond Fund – ETF Series PBD $ 0.05861 09/26/2018 10/05/2018 Monthly
Purpose Duration Hedged Real Estate Fund – ETF Series PHR $ 0.08001 09/26/2018 10/05/2018 Monthly
Purpose Monthly Income Fund – ETF Series PIN $ 0.08301 09/26/2018 10/05/2018 Monthly
Purpose Premium Yield Fund – ETF Series PYF $ 0.08301 09/26/2018 10/05/2018 Monthly
Purpose Canadian Financial Income Fund – ETF Series BNC $ 0.08501 09/26/2018 10/05/2018 Monthly
Purpose Conservative Income Fund – ETF Series PRP $ 0.05401 09/26/2018 10/05/2018 Monthly
Purpose International Tactical Hedged Equity Fund – ETF Series PHW $ 0.10001 09/26/2018 10/05/2018 Quarterly
Purpose Diversified Real Asset Fund – ETF Series PRA $ 0.07501 09/26/2018 10/05/2018 Quarterly
Purpose International Dividend Fund – ETF Units PID $ 0.0780 09/26/2018 10/05/2018 Monthly
Purpose US Dividend Fund – ETF Units PUD $ 0.0650 09/26/2018 10/05/2018 Monthly
Purpose US Dividend Fund Non-Currency Hedged – ETF Units PUD.B $ 0.0760 09/26/2018 10/05/2018 Monthly
Purpose Tactical Investment Grade Bond Fund – ETF Units BND $ 0.0630 09/26/2018 10/05/2018 Monthly
Purpose Short Duration Tactical Bond Fund – ETF Units SBND $ 0.0600 09/26/2018 10/05/2018 Monthly
Purpose High Interest Savings ETF PSA $ 0.0730 09/28/2018 10/05/2018 Monthly
Purpose US Cash ETF PSU.U US$ 0.1400 09/28/2018 10/05/2018 Monthly
Purpose Strategic Yield Fund – ETF Units SYLD $ 0.0970 09/26/2018 10/05/2018 Monthly
Purpose Multi-Asset Income Fund – ETF Units PINC $ 0.0840 09/26/2018 10/05/2018 Monthly
Purpose Managed Duration Investment Grade Bond Fund – ETF Units IGB $ 0.05501 09/26/2018 10/05/2018 Monthly
Purpose Canadian Preferred Share Fund – ETF Units RPS $ 0.0950 09/26/2018 10/05/2018 Monthly
Purpose Core Equity Income Fund – ETF Series RDE $ 0.06871 09/26/2018 10/05/2018 Monthly
Purpose US Preferred Share Fund – ETF Units RPU $ 0.0940 09/26/2018 10/05/2018 Monthly
Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units2 RPU.B / RPU.U $ 0.0940 09/26/2018 10/05/2018 Monthly
Purpose Emerging Markets Dividend Fund – ETF Units REM $ 0.0403 09/26/2018 10/05/2018 Monthly
Purpose Energy Credit Fund – ETF Units PCF $ 0.0350 09/26/2018 10/05/2018 Monthly
Purpose Energy Credit Fund – Non-Currency Hedged – ETF Units PCF.U US$ 0.0359 09/26/2018 10/05/2018 Monthly
Purpose Floating Rate Income Fund – ETF Units FLOT $ 0.0312 09/26/2018 10/05/2018 Monthly
Purpose Floating Rate Income Fund – Non-Currency Hedged USD – ETF Units FLOT.U US$ 0.0371 09/26/2018 10/05/2018 Monthly
Purpose Floating Rate Income Fund – Non-Currency Hedged – ETF Units FLOT.B $ 0.0352 09/26/2018 10/05/2018 Monthly
Purpose Global Financials Income Fund – ETF Units PFG $ 0.0468 09/26/2018 10/05/2018 Monthly
Purpose Marijuana Opportunities Fund – ETF Units MJJ $ 0.070 09/26/2018 10/05/2018 Quarterly
 

 

Closed-End Funds Ticker Symbol Distribution

per share/unit

Record Date Payable Date Distribution Frequency
Investment Grade Managed Duration Income Fund – Class T PFU.UN $ 0.0417 09/28/2018 10/15/2018 Monthly
Investment Grade Managed Duration Income Fund – Class A2 unlisted $ 0.0417 09/28/2018 10/15/2018 Monthly
U.S. Banks Income & Growth Fund – Class T PUB.UN $ 0.0417 09/28/2018 10/15/2018 Monthly
U.S. Banks Income & Growth Fund – Class A2 unlisted $ 0.0417 09/28/2018 10/15/2018 Monthly
Canadian Investment Grade Preferred Share Fund (P2L) – Class T RIGP.UN $ 0.1146 09/28/2018 10/15/2018 Monthly
Canadian Investment Grade Preferred Share Fund (P2L) – Class A unlisted $ 0.1146 09/28/2018 10/15/2018 Monthly
June 2021 Investment Grade Bond Pool – Class T RBP.UN $ 0.0887 09/28/2018 10/15/2018 Quarterly
June 2021 Investment Grade Bond Pool – Class A Unlisted $ 0.0775 09/28/2018 10/15/2018 Quarterly
Purpose Specialty Lending Trust – Class A Unlisted $ 0.2000 09/28/2018 10/15/2018 Quarterly
Purpose Specialty Lending Trust – Class F Unlisted $ 0.2000 09/28/2018 10/15/2018 Quarterly
Purpose Specialty Lending Trust – Class U Unlisted US$ 0.2000 09/28/2018 10/15/2018 Quarterly
  • Dividend is designated as an “eligible” Canadian dividend for purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.
  • Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units have both a CAD and USD purchase option. Distribution per unit is declared in CAD, however, the USD purchase option (RPU.U) distribution will be made in the USD equivalent. Conversion into USD will use the end-of-day foreign exchange rate prevailing on the ex-distribution date.

 

About Purpose Investments Inc.

 

Purpose Investments is an asset management company with approximately $6.1 billion under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.

 

 

For further information please contact:

Nancy Turner

Purpose Investments Inc.
Tel: (877) 789-1517
Email: info@purposeinvest.com

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Purpose Investments Inc. Announces Exchange Ratios for Mergers

Purpose Investments Inc. (the “Manager”) announced today the exchange ratios (each an “Exchange Ratio” and collectively, the “Exchange Ratios”) for the previously announced mergers of each terminating fund (each a “Terminating Fund” and collectively the “Terminating Funds”) into the corresponding continuing fund (each a “Continuing Fund” and collectively, the “Continuing Funds”) shown opposite its name as shown in the chart below (each a “Merger” and collectively the “Mergers”).

Pursuant to the Mergers, each holder of units or shares, as applicable, of a Terminating Fund will automatically receive units or shares, as applicable, of its corresponding Continuing Fund given the stated Exchange Ratio for each unit or share, as applicable, of the Terminating Fund held on the effective date of the Merger (close of business on August 24, 2018). No fractional mutual fund or ETF units or shares, as applicable, of a Continuing Fund or cash in lieu thereof will be issued or paid under a Merger.

TERMINATING FUND Class / Series Fundserv / Ticker CONTINUING FUND Class / Series Fundserv/ Ticker Exchange Ratio
Redwood Unconstrained Bond Fund A RAM127 Purpose Floating Rate Income Fund A PFC3300 0.883326
Redwood Unconstrained Bond Fund F RAM128 Purpose Floating Rate Income Fund F PFC3301 0.915692
Redwood Unconstrained Bond Fund A USD RAM130 Purpose Floating Rate Income Fund A non-currency hedged (USD) PFC3380 1.167717
Redwood Unconstrained Bond Fund F USD RAM131 Purpose Floating Rate Income Fund F non-currency hedged (USD) PFC3381 1.180092
Redwood Unconstrained Bond Class A RAM125 Purpose Floating Rate Income Fund A PFC3300 0.957613
Redwood Unconstrained Bond Class F RAM126 Purpose Floating Rate Income Fund F PFC3301 0.974917
Redwood Unconstrained Bond Class X RAM123 Purpose Floating Rate Income Fund A PFC3300 0.961877
Redwood Unconstrained Bond Class Y RAM124 Purpose Floating Rate Income Fund F PFC3301 1.021972
Redwood Global Infrastructure Fund A MQI.UN Purpose Diversified Real Asset Fund ETF PRA 0.497073
Limited Duration Investment Grade Preferred Securities Fund A PFD.UN Purpose U.S. Preferred Share Fund ETF RPU 0.881314
Limited Duration Investment Grade Preferred Securities Fund F not listed Purpose U.S. Preferred Share Fund ETF RPU 0.963747
Limited Duration Investment Grade Preferred Securities Fund U PFD.U Purpose U.S. Preferred Share Fund ETF non-currency hedged RPU.U 1.301973
Limited Duration Investment Grade Preferred Securities Fund V not listed Purpose U.S. Preferred Share Fund ETF non-currency hedged RPU.U 1.379099

Units of Redwood Global Infrastructure Income Fund were delisted from the Toronto Stock Exchange and units of Limited Duration Investment Grade Preferred Securities Fund were delisted from the Aequitas NEO Exchange at the close of business on August 24, 2018.

Securityholders of the Terminating Funds are not required to take any action in order to become securityholders of their corresponding Continuing Funds.

Complete details regarding the Mergers, including the tax basis of the Mergers and the matters considered at the special meetings, were outlined in the management information circular dated July 4, 2018 (the “Circular”) sent to securityholders of the Terminating Funds and the Voting Continuing Funds (as defined in the Circular) of record as of July 3, 2018, available on www.sedar.com.

About Purpose Investments

Purpose Investments is an asset management company with approximately $5.7 billion under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.

For further information please contact:

Nancy Turner
Purpose Investments Inc.
Tel: (877) 789-1517
Email: info@purposeinvest.com

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Purpose Investments Inc. Announces August Distributions

Purpose Investments Inc. is pleased to announce the following distributions for the month of August 2018. The ex-distribution date for all ETFs is August 28, 2018, with the exception of the Purpose High Interest Savings ETF and the Purpose US Cash ETF, which have an ex-distribution date of August 31, 2018. The ex-distribution date for all Closed End Funds is August 30, 2018.

Open-End Funds Ticker Symbol Distribution per share/unit Record Date Payable Date Distribution Frequency
Purpose Core Dividend Fund – ETF Series PDF $ 0.08501 08/29/2018 09/10/2018 Monthly
Purpose Enhanced Dividend Fund – ETF Series PDIV $ 0.05221 08/29/2018 09/10/2018 Monthly
Purpose Total Return Bond Fund – ETF Series PBD $ 0.05551 08/29/2018 09/10/2018 Monthly
Purpose Duration Hedged Real Estate Fund – ETF Series PHR $ 0.08001 08/29/2018 09/10/2018 Monthly
Purpose Monthly Income Fund – ETF Series PIN $ 0.08301 08/29/2018 09/10/2018 Monthly
Purpose Premium Yield Fund – ETF Series PYF $ 0.08301 08/29/2018 09/10/2018 Monthly
Purpose Canadian Financial Income Fund – ETF Series BNC $ 0.08501 08/29/2018 09/10/2018 Monthly
Purpose Conservative Income Fund – ETF Series PRP $ 0.05401 08/29/2018 09/10/2018 Monthly
Purpose International Dividend Fund – ETF Units PID $ 0.0780 08/29/2018 09/10/2018 Monthly
Purpose US Dividend Fund – ETF Units PUD $ 0.0650 08/29/2018 09/10/2018 Monthly
Purpose US Dividend Fund Non-Currency Hedged – ETF Units PUD.B $ 0.0737 08/29/2018 09/10/2018 Monthly
Purpose Tactical Investment Grade Bond Fund – ETF Units BND $ 0.0630 08/29/2018 09/10/2018 Monthly
Purpose Short Duration Tactical Bond Fund – ETF Units SBND $ 0.0600 08/29/2018 09/10/2018 Monthly
Purpose High Interest Savings ETF PSA $ 0.0878 08/31/2018 09/10/2018 Monthly
Purpose US Cash ETF PSU.U US$ 0.1606 08/31/2018 09/10/2018 Monthly
Purpose Strategic Yield Fund – ETF Units SYLD $ 0.0970 08/29/2018 09/10/2018 Monthly
Purpose Multi-Asset Income Fund – ETF Units PINC $ 0.0840 08/29/2018 09/10/2018 Monthly
Purpose Managed Duration Investment Grade Bond Fund – ETF Units IGB $ 0.05501 08/29/2018 09/10/2018 Monthly
Purpose Canadian Preferred Share Fund – ETF Units RPS $ 0.0950 08/29/2018 09/10/2018 Monthly
Purpose Core Equity Income Fund – ETF Series RDE $ 0.06941 08/29/2018 09/10/2018 Monthly
Purpose US Preferred Share Fund – ETF Units RPU $ 0.0940 08/29/2018 09/10/2018 Monthly
Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units2 RPU.B / RPU.U $ 0.0940 08/29/2018 09/10/2018 Monthly
Purpose Emerging Markets Dividend Fund – ETF Units REM $ 0.0403 08/29/2018 09/10/2018 Monthly
Purpose Energy Credit Fund – ETF Units PCF $ 0.0350 08/29/2018 09/10/2018 Monthly
Purpose Energy Credit Fund – Non-Currency Hedged – ETF Units PCF.U US$ 0.0359 08/29/2018 09/10/2018 Monthly
Purpose Floating Rate Income Fund – ETF Units FLOT $ 0.0312 08/29/2018 09/10/2018 Monthly
Purpose Floating Rate Income Fund – Non-Currency Hedged USD – ETF Units FLOT.U US$ 0.0371 08/29/2018 09/10/2018 Monthly
Purpose Floating Rate Income Fund – Non-Currency Hedged – ETF Units FLOT.B $ 0.0352 08/29/2018 09/10/2018 Monthly
Purpose Global Financials Income Fund – ETF Units PFG $ 0.0468 08/29/2018 09/10/2018 Monthly
 

 

Closed-End Funds Ticker Symbol Distribution

per share/unit

Record Date Payable Date Distribution Frequency
Investment Grade Managed Duration Income Fund – Class T PFU.UN $ 0.0417 08/31/2018 09/17/2018 Monthly
Investment Grade Managed Duration Income Fund – Class A2 unlisted $ 0.0417 08/31/2018 09/17/2018 Monthly
U.S. Banks Income & Growth Fund – Class T PUB.UN $ 0.0417 08/31/2018 09/17/2018 Monthly
U.S. Banks Income & Growth Fund – Class A unlisted $ 0.0417 08/31/2018 09/17/2018 Monthly
U.S. Banks Income & Growth Fund – Class A2 unlisted $ 0.0417 08/31/2018 09/17/2018 Monthly
Canadian Investment Grade Preferred Share Fund (P2L) – Class T RIGP.UN $ 0.1146 08/31/2018 09/17/2018 Monthly
Canadian Investment Grade Preferred Share Fund (P2L) – Class A unlisted $ 0.1146 08/31/2018 09/17/2018 Monthly

(1) Dividend is designated as an “eligible” Canadian dividend for purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation.

(2) Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units have both a CAD and USD purchase option. Distribution per unit is declared in CAD, however, the USD purchase option (RPU.U) distribution will be made in the USD equivalent. Conversion into USD will use the end-of-day foreign exchange rate prevailing on the ex-distribution date.

 

About Purpose Investments Inc.

Purpose Investments is an asset management company with approximately $5.7 billion under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.

 

For further information please contact:

Nancy Turner

Purpose Investments Inc.
Tel: (877) 789-1517
Email: info@purposeinvest.com

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Purpose Investments Inc. Announces Results of Meetings of Securityholders Relating to Fund Mergers

This press release is not for dissemination in the United States or for distribution to US news wire services.

Purpose Investments Inc. (“Purpose”) is pleased to announce that the special meetings relating to the approval of the following previously announced mergers (the “Mergers”) were held today. These Mergers are a continuation of Purpose’s efforts to enhance and improve its product lineup, and ensure investors have access to the best solutions to help drive better portfolio outcomes. Accordingly, the following Mergers will take effect on or about August 27, 2018:

TERMINATING FUND   CONTINUING FUND
Redwood Unconstrained Bond Fund Purpose Floating Rate Income Fund
Redwood Unconstrained Bond Class Purpose Floating Rate Income Fund
Redwood Global Infrastructure Income Fund Purpose Diversified Real Asset Fund
Limited Duration Investment Grade Preferred Securities Fund Purpose US Preferred Share Fund

In accordance with applicable legal requirements, securityholders of each of the Terminating Funds and of Purpose Floating Rate Income Fund (formerly Redwood Floating Rate Income Fund) and Purpose Diversified Real Asset Fund (collectively, the “Voting Funds”) were required to approve the Mergers.

At the special meetings, each of the Voting Funds approved special resolutions to authorize the Mergers.

Complete details regarding the Mergers and the matters considered at the special meetings were outlined in the management proxy circular dated July 4, 2018 sent to securityholders of the Voting Funds of record as of July 3, 2018.

About Purpose Investments

Purpose Investments is an asset management company with approximately $5.7 billion under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.

For further information please contact:

Nancy Turner
Purpose Investments Inc.
Tel: (877) 789-1517
Email: info@purposeinvest.com

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Purpose Investments Inc. Announces Conversion of Purpose Floating Rate Income Fund Into an Open-End Fund

Purpose Investments Inc. (“Purpose”) confirmed that the previously announced plan to convert Purpose Floating Rate Income Fund (TSX:FLOT.UN) (the “Fund”) from a closed-end fund to an exchange-traded mutual fund on August 7, 2018 will be completed as planned. As part of the conversion, the Fund’s Class A units and Class U units will be renamed “ETF units” and “ETF non-currency hedged USD units”, respectively, and the trading symbol for the Class A units will change from “FLOT.UN” to simply “FLOT”. A new class of units designated as “ETF non-currency hedged CAD units” also will commence trading on the Toronto Stock Exchange under the symbol “FLOT.B”, and other classes of mutual fund units will become available for purchase under the Fund’s prospectus.

Existing unitholders of the Fund are not required to take any action in respect of the changes described above. As a result of the conversion, existing unitholders automatically will become holders of ETF units or ETF non-currency hedged USD units, as applicable.

The conversion should provide holders of FLOT.UN and FLOT.U with several benefits, including:

  • A lower management fee and a lower expected management expense ratio – Effective June 15, 2018, Purpose reduced the management fee on FLOT.UN and FLOT.U to 0.85% per annum from 1.25%.
  • Efficient trading and daily liquidity – As an exchange-traded fund is in continuous distribution, FLOT’s and FLOT.U’s ETF units are expected to trade efficiently and close to its Net Asset Value at all times and the units will be redeemable daily at NAV, thereby significantly increasing the liquidity for unitholders.
  • A leading manager of fixed-income solutions – On April 17, 2018, leading asset manager Neuberger Berman Investment Advisors LLC (NB) assumed management of the Purpose Floating Rate Income Fund portfolio. NB is a private, independent, employee-owned investment manager with over US$299 billion in assets under management, as at March 31, 2018, including US$130 billion managed across the fixed-income universe. The Fund will benefit from NB’s breadth and depth of experience, resources and innovative investment solutions, which can be leveraged extensively in the ETF / mutual fund format.
  • No disposition for tax purposes – The conversion will not result in a disposition of units by holders of FLOT.UN and FLOT.U, and accordingly, any embedded gain will not be realized as a result of the conversion. This differs from the treatment that would occur on a redemption or termination of a fund, which would result in a disposition of the shares and the realization of any income for tax purposes.

About Purpose Investments Inc.

Purpose Investments is an asset management company with approximately $5.7 billion under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.

For further information please contact:

Nancy Turner
Purpose Investments Inc.
Tel: (877) 789-1517
Email: info@purposeinvest.com

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.