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:
Purpose Investments Inc.
Tel: (877) 789-1517