Purpose Investments has launched three actively managed ETFs on the Toronto Stock Exchange. The funds represent ETF units of existing mutual fund strategies offered by the firm.
Som Seif, president and CEO of Purpose Investments.
Som Seif, president and CEO of Purpose Investments, commented, “From the very start, our mission at Purpose has always been driven by the desire to create investment products with a specific purpose and role to play, to aid in the construction of the most resilient portfolios. We’re as committed to this goal as we were when I founded the company five years ago.
“Offering ETF securities for these three funds will further expand access and choice for investors seeking active, innovative strategies with a focus on risk management – characteristics we believe are essential in helping Canadians achieve their long-term financial goals.”
The Purpose Strategic Yield Fund (SYLD CN) invests primarily in high yield fixed income securities of corporate issuers located in Canada or the US.
The fund applies extensive bottom-up fundamental analysis while seeking to invest across North American credit markets. The strategy is designed to work well in bear bond markets, through active management of credit risk and minimizing of interest-rate exposure.
The fund has a management fee of 80bps.
The Purpose Multi-Asset Income Fund (PINC CN) aims to provide investors with a high level of income and moderate long-term capital growth. It invests primarily in a mix of income-producing securities, including dividend-paying equities, preferred shares, real estate investment trusts, convertible securities, investment grade fixed income securities, floating rate debt, asset-backed securities, and mortgage-backed securities.
The fund is a diversified high-income strategy which applies a systematic, tactical model to allocate across various global asset classes and a bottom-up, sector-specialist approach for security selection.
It aims to generate income in both volatile and rising-interest-rate environments by sourcing income from both traditional equity and fixed-income assets, as well as alternative sources, such as preferred shares and option-income strategies.
The fund has a management fee of 85bps.
The Purpose Global Innovators Fund (PINV CN) seeks to provide shareholders with long-term capital growth through the strategic sector rotation of global positions in equity, debt and derivative securities.
The fund uses a top-down macro approach, combined with bottom-up security selection, to identify businesses with potentially disruptive technologies or processes.
This strategy can complement an investors’ equity holdings, providing higher-growth opportunities with lower beta to the broad equity markets.
The fund has a management fee of 100bps.