Canada markets open in 46 minutes
  • S&P/TSX

    19,107.77
    -166.27 (-0.86%)
     
  • S&P 500

    4,063.04
    -89.06 (-2.14%)
     
  • DOW

    33,587.66
    -681.50 (-1.99%)
     
  • CAD/USD

    0.8250
    +0.0006 (+0.07%)
     
  • CRUDE OIL

    64.70
    -1.38 (-2.09%)
     
  • BTC-CAD

    60,644.87
    -8,045.20 (-11.71%)
     
  • CMC Crypto 200

    1,353.60
    -210.23 (-13.44%)
     
  • GOLD FUTURES

    1,814.40
    -8.40 (-0.46%)
     
  • RUSSELL 2000

    2,135.14
    -71.85 (-3.26%)
     
  • 10-Yr Bond

    1.6920
    -0.0030 (-0.18%)
     
  • NASDAQ futures

    13,072.00
    +73.50 (+0.57%)
     
  • VOLATILITY

    25.40
    +3.56 (+16.30%)
     
  • FTSE

    6,910.83
    -93.80 (-1.34%)
     
  • NIKKEI 225

    27,448.01
    -699.50 (-2.49%)
     
  • CAD/EUR

    0.6821
    -0.0003 (-0.04%)
     

Purpose Investments Inc. Announces Reversal of Intent to Terminate Purpose Canadian Financial Income Fund

  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
  • Oops!
    Something went wrong.
    Please try again later.

TORONTO, July 21, 2020 (GLOBE NEWSWIRE) -- Purpose Investments Inc. (“Purpose Investments” or “Purpose”) is pleased to announce today that, notwithstanding its press release on June 24 regarding the termination of Purpose Canadian Financial Income Fund (TSX ticker: BNC) (the “Fund”), it will continue to run the Fund according to its current strategy indefinitely.

Given the current investment climate, Purpose believes the Fund’s strategy provides an optimal means of exposure to the Canadian financial sector, which should enable it to grow the Fund’s assets under management. The Fund provides broadly diversified exposure to Canada’s six largest banks and four largest insurers, combined with enhanced yield-generating properties due to its strategy of partially overwriting the portfolio with covered calls.

About Purpose Investments
Purpose Investments is an asset management company with more than $9-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.

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.