Toronto, December 19, 2018 – Purpose Investments Inc. (“Purpose”) today announced the final annual capital gains distributions for its exchange-traded funds and closed-end funds (“Funds”) with a December 15, 2018 tax year end. The distributions represent capital gains realized during the year. They will not be paid in cash, but instead will be reinvested in additional units. The resulting units will immediately be consolidated so that the number of units held by each investor will not change.
Unitholders of record at close of business on December 27, 2018, will receive the 2018 capital gains distributions.
Details of the per unit distribution amounts are as follows:
|Purpose Mutual Fund Trusts||Ticker Symbol||Final Annual Capital Gains Distribution Per Unit|
|Purpose Marijuana Opportunities Fund – ETF Units||MJJ||$ 3.66|
|Purpose US Dividend Fund Non-Currency Hedged – ETF Units||PUD.B1||$ 2.50|
|Closed-End Funds||Ticker Symbol||Final Annual Capital Gains Distribution Per Unit|
|U.S. Banks Income & Growth Fund – Class T||PUB.UN||$ 0.45|
|U.S. Banks Income & Growth Fund – Class A2||Unlisted||$ 0.46|
|Canadian Investment Grade Preferred Share Fund – Class T||RIGP.UN||$ 0.11|
|Canadian Investment Grade Preferred Share Fund – Class A||Unlisted||$ 0.11|
(1) PUD.B realized capital gains in 2018 from rebalancing U.S. equities as USD appreciated against the CAD.
Purpose expects to announce the final annual capital gains distribution amounts for Purpose High Interest Savings ETF, Purpose US Cash ETF, Purpose Gold Bullion Fund and Purpose Silver Bullion Trust on or about December 31, 2018, if necessary.
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. 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 $6.7 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
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.
This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. This press release is not for dissemination in the United States or for distribution to US news wire services.