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Purpose Investments Inc. Announces Name Change, Adds New Mutual Fund Classes to Purpose US Cash Fund

Purpose Investments Inc.
·2 min read

TORONTO, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Purpose Investments Inc. (“Purpose”) is pleased to announce Purpose US Cash ETF will be renamed Purpose US Cash Fund (TSX: PSU.U) (“the Fund”) and new mutual fund classes will be opened to provide improved access for investors. There will be no change to the Fund’s ETF ticker symbol. The name change will be effective on or about November 16, 2020. The new mutual fund classes will be open to investors on or about November 27, 2020.

The new mutual fund classes are as follows:

Name

Class

Fundserv Code

Management Fee

Purpose US Cash Fund

Class A

PFC7700

0.45%

Purpose US Cash Fund

Class F

PFC7701

0.20%

The name change does not represent a change in the Fund’s investment strategy.

About Purpose US Cash Fund
Purpose US Cash Fund’s investment objectives are to maximize US dollar monthly income for shareholders while preserving capital and liquidity by investing primarily in high interest deposit accounts and high-quality money market securities denominated in US dollars and generally with term to maturity not exceeding one year. To achieve its investment objectives, the Fund will invest primarily US dollar denominated high interest deposit accounts with one or more Canadian chartered banks and/or Canadian Credit Unions. The Fund can also invest in US dollar denominated high-quality, short-term (one year or less) debt securities, including treasury bills and promissory notes issued or guaranteed by foreign or Canadian governments or their agencies, bankers acceptances, asset-backed commercial paper and US dollar denominated commercial paper issued by foreign or Canadian chartered banks, loan companies, trust companies and corporations and US dollar denominated Canadian money market funds. Investments made by the Fund will be in the top two ratings categories of any of the designated rating organizations (as defined in NI 81-102).

About Purpose Investments Inc.
Purpose Investments Inc. is an asset management company with more than $9 billion in assets 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.