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Posted by Purpose Investments on Dec 1st, 2023

Purpose Investments Inc. Announces Increases to Annual Distribution Yield Targets for Purpose Global Bond Fund, Purpose Global Bond Class, and Purpose Global Flexible Credit Fund

Purpose Investments Inc. (“Purpose”) is pleased to announce that it has elected to increase the annual distribution target on the Purpose Global Bond Fund (TSX: BND) and Purpose Global Bond Class (TSX: IGB) from 4.65% to 5.15%. In addition, the annual distribution target for Purpose Global Flexible Credit Bond Fund (TSX: FLX) will also increase from 5.50% to 6.25%. The new monthly distribution amounts are shown in the table below and will be effective as of December 2023.

Fund Name


New Monthly Distribution per Share/Unit

Purpose Global Bond Fund – ETF Units


$ 0.0712

Purpose Global Bond Class – ETF Series


$ 0.0729

Purpose Global Flexible Credit Fund – ETF Units


$ 0.0355

Purpose Global Flexible Credit Fund – ETF Non-Currency Hedged Units


$ 0.0421

Purpose Global Flexible Credit Fund – ETF Non-Currency Hedged USD Units


$ 0.0294

Based on the funds’ continued capital allocation in the new bond issue market coupled with the current interest rate environment, Purpose is able to increase the monthly distribution rates for the above-mentioned funds.

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 Financial, an independent technology-driven financial services company.

About Neuberger Berman

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies – including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds – on behalf of institutions, advisors and individual investors globally. The firm manages $439 billion in client assets as of September 30, 2023.

For further information, please contact:
Keera Hart

Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. 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.

Funds mentioned in this story