Purpose Investment Partners Inc. (“Purpose”) today announced the launch of a new USD ETF series for its award-winning credit fund, Purpose Credit Opportunities Fund (the “Fund”), which will begin trading today on the Toronto Stock Exchange under the ticker CROP.U.
The Fund seeks to maximize total returns for unitholders, consisting of both distributions and capital appreciation. To achieve its investment objectives, the Fund invests, directly or indirectly, primarily in debt and equity securities of non-investment grade rated, publicly traded issuers.
Purpose Credit Opportunities Fund, a four-time Canadian Hedge Fund Awards winner (2021, 2020, 2019, and 2018) in the Credit Focused category for various measurement periods, is actively managed by Sandy Liang, Head of Fixed Income at Purpose. Liang, a Morningstar 5-Star fund manager, is a Wall Street veteran with over 30 years of credit investment management experience.
Built on the success of its Series A, Series F, and ETF offerings, Purpose is excited to offer a USD ETF option to investors who wish to invest using U.S. currency.
“The U.S. Federal Reserve is on track to increase interest rates faster than other major countries, making the U.S. dollar attractive to investors,” said Liang. “The Fund’s Canadian investor base is becoming more diversified, and the international investor segment is growing, many of whom view the U.S. dollar as the world’s currency reserve. So, we are excited to make this award-winning strategy available to all.”
The Fund has had a successful track record since its inception in 2013 and combines active, bottom-up credit research with risk management using various hedging tools to generate income while reducing volatility. At Purpose, we want to empower investors with the insights and expertise to make informed investment decisions. For more information on the Fund, please visit: purposeinvest.com/funds/purpose-credit-opportunities-fund.
About Purpose Investments Inc.
Purpose Investments is an asset management company with over $13 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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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.