Purpose Global Bond Class ETF Surpasses $225 Million in Assets Under Management

TORONTO, May 26, 2021 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) is happy to announce that the Purpose Global Bond Class ETF (“IGB” or the “ETF”) has surpassed CAD 225 million in assets under management (“AUM”). As at May 25, 2021, the ETF had CAD 229.6 million AUM.

IGB seeks to provide shareholders with exposure to a diversified portfolio of corporate, government or other bonds, and debt instruments or debt-like securities, of investment grade and noninvestment grade North American and/or international issuers.

As noted in IGB’s prospectus, if the ETF experiences a significant increase in its net asset value, Purpose may, in its sole discretion, if it determines it to be in the best interests of shareholders, decide to suspend subscriptions for additional shares if considered necessary or desirable to permit the ETF to achieve, or continue to achieve, its investment objectives.

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“Purpose Global Bond Class ETF has proven its value over the course of its life, and we’re thrilled to be able to step back at this point to reflect on its success,” said Greg Taylor, CIO of Purpose Investments.

In light of the ETF’s healthy growth, at this time Purpose has determined that it will suspend the subscription of new shares for IGB at such time as the ETF’s AUM exceeds $250 million in order to allow the ETF to continue to achieve its investment objectives. Purpose may, in the future, determine to permit subscriptions for additional shares of the ETF.

A suspension of subscriptions for shares of the ETF will not (a) affect the ability of shareholders to sell their ETF shares in the secondary market at a price reflective of the net asset value per ETF share or (b) redeem their mutual fund shares at the net asset value per share, assuming normal market conditions. However, during the period of time in which subscriptions are suspended, ETF shares of IGB may trade at a premium or substantial premium to the net asset value per ETF share of IGB.

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Any suspension of subscriptions or subsequent resumption of subscriptions will be announced by press release and noted on Purpose’s website.

For additional information on IGB, please see the prospectus.

About Purpose Investments Inc.

Purpose is an asset management company with more than $11 billion in assets under management. Purpose has an unrelenting focus on client-centric innovation, offering a range of managed and quantitative investment products. Purpose is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent, technology-driven financial services platform which is reshaping the industry by connecting and creating opportunities across asset management, wealth management and small business financial services.

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For further information please contact:
Keera Hart

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.

Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Purpose cautions the reader not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. Generally, but not always, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “on pace”, “anticipates”, or “does not anticipate”, “believes”, and similar expressions or state that certain actions, events or results “may”, “could”, “would”, “should”, “might”, or “will” be taken, occur or be achieved.

Forward-looking statements are based on information available to management at the time they are made, management’s current plans, estimates, assumptions, judgments and expectations. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Purpose to be materially different from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: general business, economic, competitive, geopolitical, technological and social uncertainties. Although the forward-looking information contained in this press release is based on assumptions that Purpose believes to be reasonable at the date such statements are made, there can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. Purpose does not undertake to update or revise any forward-looking information, except in accordance with applicable securities laws.

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