Friday September 6th, 2013
Purpose Investments Inc. (“Purpose”) is pleased to announce that the Purpose Monthly Income Fund (the “Fund”), has completed the initial public offering of its exchange traded series of shares (“ETF Shares”). The ETF Shares of the Fund will commence trading on the Toronto Stock Exchange today under the ticker symbol PIN.
Today’s launch is part of Purpose’s first series of open-ended funds for Canadian investors. The Fund is a separate class of shares of Purpose Fund Corp. (the “Corporation”) (a corporate class) and the ETF Shares are a series of such class. Each corporate class is a separate investment fund having specific investment objectives and is specifically referable to a separate portfolio of investments.
The Fund will initially offer ETF Shares and three mutual fund series namely, Class A, Class F and Class I shares, which will allow investors to access the funds based on their preferred investment style.
The Fund seeks to (i) maximize total return, consisting of dividend income and capital appreciation by tactically investing in a broad range of asset classes which may include equity, fixed income and inflation sensitive securities and cash; and (ii) to provide shareholders with stable monthly cash distributions.