Purpose adds new ETF share classes for Premium Yield Fund

Nov 29th, 2018 | By | Category: ETF and Index News

Purpose Investments has launched two new ETF share classes for the Purpose Premium Yield Fund on Toronto Stock Exchange.

Som Seif Purpose Investments

Som Seif, CEO of Purpose Investments.

The actively managed fund seeks to provide high monthly income as well as modest long-term capital appreciation.

It does this by pursuing various options strategies within the North American equities universe such as cash-covered put options and covered calls.

In addition to the original CAD-denominated, currency-hedged version of the fund (Ticker: PYF CN), Purpose is now offering a non-currency hedged share class (PYF.B CN) and a US dollar-denominated share class (PYF.U CN).

According to Purpose, the fund offers low correlation to traditional equity and bond markets while providing investors a tax-efficient yield generated through volatility premiums.

“The Purpose Premium Yield Fund is a powerful income-generating tool to help investors build resilient portfolios,” said Som Seif, CEO of Purpose Investments. “The actively managed options strategy can serve a variety of functions in a portfolio, including as an alternative to fixed income and as a complementary piece an equity allocation to enhance diversification.”

Seif continued, “Providing more ways for investors to access the fund is just another example of the enhancements we’re doing at Purpose to make innovative investment strategies more widely available.”

The fund is offered with a management fee of 0.60%.

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