Toronto, November, 28 2018 – Purpose Investments, Inc. (“Purpose”) is pleased to announce the launch of two new series of Purpose Premium Yield Fund (the “Fund”) to give investors more ways to access the innovative alternative strategy. In addition to the original currency-hedged series of the Fund (TSX: PYF), Purpose is now offering a non-currency hedged series (TSX: PYF.B) and a US dollar series (TSX: PYF.U). Purpose has completed the initial public offering of non-currency hedged series (TSX: PYF.B) and a US dollar series (TSX: PYF.U) and they will commence trading on the Toronto Stock Exchange today under the ticker symbol “PYF.B” and “PYF.U” respectively. All of the series of the Fund are also available in mutual fund versions.
“Purpose Premium Yield Fund is a powerful income-generating tool to help investors build resilient portfolios. The actively managed options strategy can serve a variety of functions in a portfolio, including as an alternative to fixed income and as a complementary piece to an equity allocation to enhance diversification. Providing more ways for investors to access the Fund is just another example of the enhancements we’re doing at Purpose to make innovative investment strategies more widely available,” said Som Seif, CEO of Purpose Investments.
The Fund offers low correlation to traditional equity and bond markets while providing investors a tax-efficient yield generated through volatility premiums. Purpose Premium Yield Fund is accessible and affordable with a low management fee of 0.60%.
About Purpose’s family of alternative products
Purpose has been at the forefront of innovation in the alternative investments space since 2013, offering them through widely available prospectus-based products since. In addition to Purpose Premium Yield Fund, alternatives with Purpose also include the winner of the 2018 Canadian Hedge Fund Award for Best 1 Year Return in the market neutral category, Purpose Multi-Strategy Market Neutral Fund (ETF ticker PMM), hedged-equity strategies Purpose Tactical Hedged Equity Fund (ETF ticker PHE) and Purpose International Tactical Hedged Equity Fund (ETF ticker PRA), as well Purpose Diversified Real Asset Fund (ETF ticker PRA).
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