Toronto, December 20, 2023 – Purpose Investments Inc. (“Purpose”) today announced the final annual distributions of income and capital gains for its open-end exchange-traded funds structured as mutual fund trusts (the “Funds”) with a December 15, 2023 tax year-end. The distributions represent income earned and capital gains realized by the Funds during the year.
Details of the per unit distribution amounts are as follows:
Final Annual Distributions of Income
Final Annual Capital Gains Distributions
The annual capital gains distributions for the funds listed in table above will be paid as notional distributions. With a notional distribution, the units issued from the distribution are immediately consolidated with the units held prior to the distribution. The number of units held after the distribution is therefore identical to the number of units held before the distribution.
The notional capital gain distributions will be applied to ETF holders of record as at the close of business on December 22, 2023. The ex-distribution date for the notional capital gain distributions will be December 21, 2023.
The actual breakdown of taxable amounts of reinvested and cash distributions for 2023, including tax factor allocations, will be reported to the brokers through CDS Clearing and Depository Services Inc. in early 2024.
As an update to the press release issued on November 29, 2023, Purpose confirms that Purpose Ether Yield ETF and Apple (AAPL) Yield Shares Purpose ETF will not declare a special annual distribution in 2023.
Purpose expects to announce the final year-end distributions for Purpose High Interest Savings Fund – ETF Units, Purpose US Cash Fund – ETF Units, Purpose Cash Management Fund – ETF Units, Purpose USD Cash Management Fund – ETF Units, and Black Diamond Impact Core Equity Fund – ETF Units on or about December 29, 2023, if necessary.
Purpose expects to announce the final annual capital gain distributions for Purpose Fund Corp. and Big Banc Split Corp. on or about January 23, 2024, if necessary. Shareholders of record on January 29, 2024 will receive the annual capital gains distributions on February 1, 2024, and such capital gains will be applicable for the 2023 tax year. The final year-end capital gains distributions for these funds will be paid in cash. Purpose confirms that Purpose Mutual Funds Limited funds will not declare annual capital gain distributions for the 2023 tax year.
About Purpose Investments
Purpose Investments is an asset management company with more than $18 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 Unlimited, an independent technology-driven financial services company.
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Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.