Purpose Investments, Inc. (“Purpose”) is pleased to announce the launch of Purpose Gold Bullion Fund (“the Fund”), a low-cost way for investors to access physical gold through an exchange-traded fund. The Fund is offered in three ETF versions: Canadian dollar hedged (KILO), Canadian dollar non-hedged (KILO.B) and US dollar denominated (KILO.U). It is also available as an F-class mutual fund on Fundserv (PFC3701). Purpose has completed the initial public offering of ETF shares and the Fund will commence trading on the Toronto Stock Exchange today under the ticker symbol “KILO.”
Purpose Gold Bullion Fund provides investors unique access to physical gold bullion in a low-cost, liquid and transparent fund. With a management fee of 0.20%, the Fund is much more affordable than many other options available to investors. For investors currently holding gold bullion as a long-term asset, switching to KILO can reduce costs significantly.
In addition to providing a low-cost option for gold investors, the Fund also provides access to fully allocated physical gold. The Fund’s assets are held on a segregated basis in the treasury vault of the Royal Canadian Mint (“the Mint”) to reduce counterparty risks to investors. Unlike many banks and other financial institutions, the Mint is fully backed by the Canadian government.
Investors in the Fund are able to receive in-kind redemptions of their physical gold directly from the Mint. Purpose Gold Bullion Fund offers a minimum redemption of one kilogram, which is one tenth of the redemption requirements of other physical gold bullion funds.
“Purpose Gold Bullion Fund is launching at an appropriate time as equity markets are showing increased levels of volatility following years of stability and outsized returns. Gold has historically acted as a safe haven during periods of extreme volatility and can serve as an important diversifier in a resilient portfolio, offering low correlation to riskier assets,” said Som Seif President and CEO of Purpose Investments Inc.
About Purpose Investments
Purpose Investments is an asset management company with approximately $6.3 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.
For further information please contact:
Purpose Investments Inc.
Tel: (877) 789-1517