Purpose Investments Announces Fund Name Change and Appointment of New Sub-Advisor
TORONTO, Nov. 23, 2018 (GLOBE NEWSWIRE) —
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Purpose Investments, Inc. (“Purpose”) is very pleased to announce that Purpose Tactical Investment Grade Bond Fund (“the Fund”) (TSX: BND) will change its name and investment sub-advisor, effective December 3, 2018. There will be no change to the ETF ticker symbol.
Effective December 3, 2018, the Purpose Tactical Investment Grade Bond Fund will be known as Purpose Global Bond Fund. The investment sub-advisor will change from Neuberger Berman Breton Hill ULC to Neuberger Berman Investment Advisers LLC.
The name change coincides with broadening and enhancing the Fund’s investment strategy to expand focus of the Fund’s investments from North American investment-grade bonds to investments in global investment-grade fixed income securities.
“The biggest challenge facing investors and advisors in today’s rising-interest-rate environment is how to manage interest rate risk and credit risk in their fixed-income portfolios,” said Som Seif, President and Chief Executive Officer of Purpose Investments. “Passively holding bonds over the past 30 years has been extremely rewarding. However, today, the reward relative to the risk of a ‘buy and hold’ passive bond portfolio is no longer as attractive. With Purpose Global Bond Fund, we focus on maximizing the yield and managing the duration and credit risks by utilizing an active, fundamental approach to global fixed-income securities and combine that with attractive fees. The result should be a better reward per unit of risk in a bond portfolio.”
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:
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.