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Purpose Investments Inc. Announces Estimated Annual Capital Gains Distribution

By November 28, 2018 No Comments

Purpose Investments Inc. (“Purpose”) today announced the estimated annual capital gains distributions for its open-end exchange-traded funds and closed-end funds (“Funds”) for the 2018 tax year end. The estimated distributions represent capital gains realized during the year and will not be paid in cash, but will be reinvested in additional units and reported as taxable with the resulting units immediately consolidated so that the number of units held by each investor will not change.

Details of the per unit distribution amounts are as follows:

Purpose Mutual Fund Trusts Ticker Symbol Estimated Annual Capital
Gains Distribution Per Unit
Purpose Marijuana Opportunities Fund MJJ $2.7327
Closed-End Funds Ticker Symbol Estimated Annual Capital
Gains Distribution Per Unit
U.S. Banks Income & Growth Fund – Class T PUB.UN $0.1904
U.S. Banks Income & Growth Fund – Class A2 Unlisted $0.3006

Purpose confirms that the following funds are not expected to have annual capital gains distributions for the 2018 tax year:

Open-End Funds

Purpose Fund Corp.

  • Purpose Core Dividend Fund – ETF Series
  • Purpose Tactical Hedged Equity Fund – ETF Series
  • Purpose Tactical Hedged Equity Fund Non-Currency Hedged – ETF Series
  • Purpose Total Return Bond Fund – ETF Series
  • Purpose Duration Hedged Real Estate Fund – ETF Series
  • Purpose Monthly Income Fund – ETF Series
  • Purpose Premium Yield Fund – ETF Series
  • Purpose Premium Yield Fund – Non-Currency Hedged – ETF Series
  • Purpose Canadian Financial Income Fund – ETF Series
  • Purpose Conservative Income Fund – ETF Series
  • Purpose Best Ideas Fund – ETF Series
  • Purpose Best Ideas Fund Non-Currency Hedged – ETF Series
  • Purpose Enhanced US Equity Fund – ETF Series
  • Purpose Enhanced US Equity Fund Non-Currency Hedged – ETF Series
  • Purpose Diversified Real Asset Fund – ETF Series
  • Purpose International Tactical Hedged Equity Fund – ETF Series
  • Purpose Enhanced Dividend Fund – ETF Series

Purpose Fund Corp. II

  • Purpose Behavioural Opportunities Fund – ETF Series

Connected Wealth Funds Inc.

  • Purpose Core Equity Income Fund – ETF Series
  • Purpose Tactical Asset Allocation Fund – ETF Series

Purpose Mutual Funds Limited.

  • Purpose Global Innovators Fund – ETF Series
  • Purpose Managed Duration Investment Grade Bond Fund – ETF Series

Purpose Mutual Fund Trusts

  • Purpose International Dividend Fund – ETF Units
  • Purpose US Dividend Fund – ETF Units
  • Purpose US Dividend Fund Non-Currency Hedged – ETF Units
  • Purpose Global Bond Fund – ETF Units
  • Purpose Short Duration Tactical Bond Fund – ETF Units
  • Purpose High Interest Savings ETF
  • Purpose US Cash ETF
  • Purpose Multi Strategy Market Neutral Fund – ETF Units
  • Purpose Silver Bullion Trust – ETF Units
  • Purpose Silver Bullion Trust – Non-Currency Hedged – ETF Units
  • Purpose Energy Credit Fund – ETF Units
  • Purpose Energy Credit Fund – Non-Currency Hedged – ETF Units
  • Purpose Floating Rate Income Fund – ETF Units
  • Purpose Floating Rate Income Fund – Non-Currency Hedged USD – ETF Units
  • Purpose Floating Rate Income Fund – Non-Currency Hedged – ETF Units
  • Purpose Global Financials Income Fund – ETF Units
  • Purpose Canadian Preferred Share Fund – ETF Units
  • Purpose US Preferred Share Fund – ETF Units
  • Purpose US Preferred Share Fund – Non-Currency Hedged – ETF Units
  • Purpose Emerging Markets Dividend Fund – ETF Units
  • Purpose Strategic Yield Fund – ETF Units
  • Purpose Multi-Asset Income Fund – ETF Units
  • Purpose Gold Bullion Fund – ETF Units
  • Purpose Gold Bullion Fund – Non-Currency Hedged USD – ETF Units
  • Purpose Gold Bullion Fund – Non-Currency Hedged – ETF Units

Closed-End Funds

  • Investment Grade Managed Duration Income Fund – Class T
  • Canadian Investment Grade Preferred Share Fund – Class T
  • Canadian Investment Grade Preferred Share Fund – Class A
  • June 2021 Investment Grade Bond Pool – Class T
  • June 2021 Investment Grade Bond Pool – Class A
  • Purpose Specialty Lending Trust – Class A
  • Purpose Specialty Lending Trust – Class F
  • Purpose Specialty Lending Trust – Class U

Please note that these are estimated amounts only, as of November 27, 2018. Circumstances may arise which would cause these estimates to change before the Funds’ tax year end on December 15, 2018 or December 31, 2018, as applicable.

Purpose expects to announce the final monthly, quarterly and annual cash distributions on all Funds on December 14, 2018. Purpose expects to announce the final annual capital gains distribution amounts on all Funds on or about December 19, 2018 except for Purpose High Interest Savings ETF, Purpose US Cash ETF and Purpose Silver Bullion Trust which will be announced on or about December 31, 2018.

For Purpose Fund Corp., Purpose Fund Corp. II, Purpose Mutual Funds Limited., and Connected Wealth Funds Inc., which are mutual fund corporations, final annual capital gains distributions will be announced on or about January 15, 2019, if necessary. As of November 27, 2018, the mutual fund corporations have no expected annual capital gains distributions. All annual capital gains distributions are considered notional distributions and are automatically reinvested in the funds at the time of the distribution.

About Purpose Investments

Purpose Investments is an asset management company with approximately $6.5 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:
Matt Padanyi
Purpose Investments Inc.
Tel: (877) 789-1517
Email: info@purposeinvest.com

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.