Blog Hero Image

Posted by Purpose Investments on Apr 21st, 2023

Purpose Investments Announces Unitholder Approval of Proposal to Expand the Investment Objectives of Purpose High Interest Savings Fund

Purpose Investments Inc. (“Purpose”) is pleased to announce that unitholders of the Purpose High Interest Savings Fund (the “Fund”), the world’s first high-interest savings ETF, have approved a proposal to expand the Fund’s investment objectives to provide the Fund with the ability to also invest in high-quality money market securities.

Purpose does not anticipate any immediate change to the holdings of the Fund and plans to continue to operate the Fund as it has since its inception. The Fund will continue to deposit its assets in high interest deposit accounts with Schedule I Canadian Banks for the foreseeable future. The ability to invest in high-quality money market securities and/or funds is only expected to be used if necessary to ensure the Fund continues to provide unitholders with attractive yields.

While there will be no change to the underlying holdings of the Fund in the near term, Purpose believes that the expansion of the Fund’s investment objectives will provide unitholders with several benefits, including providing the Fund with the flexibility to diversify its portfolio holdings with high-quality short-term fixed-income investments, if needed in the long term which should benefit the Fund and its Unitholders through market cycles.

For further information, please contact us by calling toll-free at 1-877-789-1517 or by emailing us at

About Purpose Investments

Purpose is an asset management company with approximately $16 billion in assets under management. Purpose has an unrelenting focus on client-centric innovation and offers a range of outcome-focused products. Purpose is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company. For more information, please visit

For further information, please contact:
Keera Hart

Commissions, trailing commissions, management fees and expenses may all be associated with investment fund investments. The prospectus contains important detailed information about the investment fund. Please read the prospectus before investing. There is no assurance that any fund will achieve its investment objective, and its net asset value, yield, and investment return will fluctuate from time to time with market conditions. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated. Investment fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer.

Certain statements on this site may be forward-looking. Forward-looking statements (“FLS”) are statements that are predictive in nature, depend on or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” intend,” “plan,” “believe,” “estimate” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions. Although the FLS contained in this document are based upon what Purpose believes to be reasonable assumptions, Purpose cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on the FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed, that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.

Fund mentioned in this story