Purpose Investments Inc. announced today a revision to the March 2023 distribution for Purpose US Cash Fund (ETF ticker: PSU.U). The press release on March 20, 2023, reported a distribution of US $0.4065 per unit. However, in lockstep with the Federal Reserve’s decision to increase the interest rate by a quarter-point on March 22, 2023, the yield on the fund increased as well, resulting in a higher distribution amount of US $0.4120 per unit. The ex-distribution date, record date, and payable dates for the distribution remain unchanged.
The following table reflects the revised distribution per unit:
About Purpose Investments
Purpose Investments is an asset management company with over $15 billion in assets 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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