Purpose Investments announced the launch of its first two exchange-traded funds (ETFs): Purpose Core Dividend Fund and Purpose Tactical Hedged Equity Fund. These funds began trading Tuesday on the Toronto Stock Exchange under the ticker symbols PDF and PHE, respectively.
These are the first of five funds expected to launch this week. The others include the following:
- Purpose Total Return Bond Fund (PBD);
- Purpose Diversified Real Asset Fund (PRA); and
- Purpose Monthly Income Fund (PIN).
Each will initially offer ETF shares and three mutual fund series, which will allow investors to access the funds based on their preferred investment style.
“Over the past year, we built Purpose from a blank slate and focused our efforts on tackling the issues that investors really care about,” says Som Seif, founder and CEO. “In our mind, there were five areas that we needed to address with our products: smart investment strategies, low fees, transparency, ease of use and tax efficiency.”
A version of this story originally appeared on Advisor.ca.
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