Purpose Investments Inc. (“Purpose”) announced the completion today of the merger of Purpose Structured Equity Yield Portfolio (“PSY”) and Purpose Structured Equity Yield Portfolio II (“PSY II”) (the “Merger”). Following the Merger, the continuing fund (Purpose Structured Equity Yield Portfolio II) was renamed “Purpose Structured Equity Yield Portfolio” (the “Continuing Fund”).
The Merger was implemented in order to more effectively and efficiently manage the fund portfolios as well as to reduce costs for the benefit of shareholders.
The Continuing Fund provides investors with (i) the opportunity for long-term capital appreciation, (ii) stable, monthly distributions, and (iii) less downside risk than a direct investment in the broad equity markets by investing, directly or indirectly, in a broad portfolio of North American and global equity securities and partially hedging the portfolio’s downside risk.
“This merger was designed to streamline our popular family of structured funds, which also includes Purpose Structured Equity Yield Plus Portfolio and Purpose Structured Equity Growth Fund, to the benefit of investors,” says Vlad Tasevski, Chief Operating Officer and Head of Product at Purpose. “We are confident that Purpose Structured Equity Yield Portfolio will continue to provide investors with a unique way to have long-term portfolio stability while generating attractive yield.”
About Purpose Investments Inc.
Purpose is an asset management company with more than $14 billion in assets under management. Purpose has an unrelenting focus on client-centric innovation, offering a range of managed and quantitative investment products. Purpose is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent, technology-driven financial services platform that is reshaping the industry by connecting and creating opportunities across asset management, wealth management and small business financial services.
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Purpose cautions the reader not to place undue reliance upon any such forward-looking statements contained herein, which speak only as of the date they are made. Generally, but not always, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “on pace”, “anticipates”, or “does not anticipate”, “believes”, “is confident”, and similar expressions or state that certain actions, events or results “may”, “could”, “would”, “should”, “might”, or “will” be taken, occur or be achieved.
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