Purpose Investments expands ETF line-up

May 15th, 2014 | By | Category: Equities

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Purpose Investments, a Toronto-based asset manager, has launched three new exchange-traded funds on the Toronto Stock Exchange.

Purpose Investments expands ETF line-up

Purpose Investments has expanded its ETF line-up with the launch of three more products on the Toronto Stock Exchange.
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The three ETFs – Purpose Best Ideas Fund (PBI), Purpose Duration Hedged Real Estate Fund (PHR), and non-currency hedged Purpose Tactical Hedged Equity Fund (PHE.B) – offer a mix of equity-based exposures.

The Purpose Best Ideas Fund invests in a portfolio of equities listed on major North American exchanges that are the top holdings of a select group of 20 world-class value and activist investment managers, including Warren Buffet, Carl Icahn, Nelson Peltz and George Soros. It has a management fee of 0.65%.

The Purpose Duration Hedged Real Estate Fund seeks to provide shareholders with long-term capital appreciation by investing in a portfolio of real estate-focused equity securities listed on major North American exchanges. The fund is designed to guard against the risk of rising interest rates associated with real estate equity securities by tactically hedging the duration of the portfolio. It has a management fee of 0.65%.

The Purpose Tactical Hedged Equity Fund (Non Currency Hedged) aims to achieve equity market returns with substantially less market risk and protect against significant equity downside by dynamically hedging market exposure. It has a management fee of 0.80%.

Som Seif, President and Chief Executive Officer of Purpose Investments, said: “With the launch of our first funds late last year, Purpose has been built with the goal of delivering the best investment products with attractive management fees and to make them available broadly to both large institutional and retail investors in Canada. We are excited about our new funds because they will provide access to very important strategies that are not available today in the market.”

He added: “These new funds feature innovative approaches to equity investing, including the ability to mirror the high conviction picks of an elite group of investment managers and to invest in real estate securities while guarding against rising interest rates.”

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