Wednesday September 4th, 2013
Purpose Investments Inc. (“Purpose”) is pleased to announce that the Purpose Total Return Bond 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 PBD.
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 achieve a positive total return in diverse market environments over time by tactically allocating its assets among a broad range of fixed income securities, including government debt, investment grade corporate debt and high yield debt.