Spain Brazil Russia France Germany China Korea Japan

Artificial Intelligence driven Marketing Communications

May 22, 2020 7:39 AM ET

Purpose Investments Inc. Announces Termination of Purpose Pension Portfolio Fund


iCrowd Newswire - May 22, 2020

– Purpose Investments Inc. (“Purpose”) announced today that it will terminate Purpose Pension Portfolio Fund (the “Fund”) and will redeem all of its issued and outstanding Series A shares, Series A USD shares, Series F shares, Series F USD shares and Series PHP shares (collectively, the “Shares”) in accordance with the terms of the Fund’s constating documents. It is anticipated that the termination will occur on or about July 20, 2020 (the “Termination Date”).

The decision to close the Fund was driven primarily by the Fund’s relatively low assets under management and the costs associated with maintaining a fund of this size. Such factors have made it difficult to efficiently manage the Fund in accordance with its intended investment objective. As a result, the termination, in the view of Purpose, is in the best interests of Shareholders.

Shares of the Fund are not currently available for purchase, including purchases made through a pre-authorized purchase plan.

The redemption price payable for the Shares will be an amount equal to the net asset value per Share of the applicable series on the Termination Date.

As stated above, the effective date of termination of the Fund is expected to be on or about July 20, 2020. If you still hold a position in the Fund at 4:00 pm EST on the Termination Date, your position will be liquidated, with the proceeds either deposited into your account or a cheque mailed directly to you or to your dealer, nominee or intermediary, depending on your account registration. If you hold Shares of the Fund, there may be tax implications to any disposition of your holdings. We strongly urge you to contact your financial advisor to discuss the financial and tax implications associated with a redemption of Shares and the termination of the Fund in your particular circumstances.

About Purpose Investments
Purpose Investments is an asset management company with more than $8-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:
Matt Padanyi
Purpose Investments Inc.
Tel: (877) 789-1517
Email: [email protected]



Contact Information:

Matt Padanyi
Purpose Investments Inc.
Tel: (877) 789-1517
Email: [email protected]








Tags:    Wire, Disclosure Newswire, United States, English