Purpose Investments Inc. (“Purpose”) today announced the estimated annual capital gains distributions for its open-end exchange-traded funds and closed-end funds (“the Funds”) for the 2019 tax year end. The estimated distributions represent estimated capital gains realized by the Funds during the year.
The estimated annual capital gain distribution for Purpose Emerging Markets Dividend Fund will be paid in cash. The estimated annual capital gain distribution for U.S. Banks Income & Growth Fund will not be paid in cash, but will be reinvested in additional units and reported as taxable with the resulting units immediately consolidated so that the number of units held by each investor will not change.
Details of the per unit distribution amounts are as follows:
| Purpose Mutual Fund Trusts | Ticker Symbol / Fund Code | Estimated Annual Capital Gains Distribution Per Unit |
| Purpose Emerging Markets Dividend Fund – ETF Series | REM | $ 1.3000 |
| Purpose Emerging Markets Dividend Fund – Series A | PFC4100 | $ 1.2400 |
| Purpose Emerging Markets Dividend Fund – Series F | PFC4101 | $ 2.0600 |
| Closed-End Funds | Ticker Symbol | Estimated Annual Capital Gains Distribution Per Unit |
| U.S. Banks Income & Growth Fund – Class T | PUB.UN | $ 0.1700 |
Purpose confirms that the following Funds are not expected to have annual capital gains distributions for the 2019 tax year:
Open-End Funds
Purpose Fund Corp. Funds:
- Purpose Core Dividend Fund
- Purpose Tactical Hedged Equity Fund
- Purpose Total Return Bond Fund
- Purpose Duration Hedged Real Estate Fund
- Purpose Monthly Income Fund
- Purpose Premium Yield Fund
- Purpose Canadian Financial Income Fund
- Purpose Conservative Income Fund
- Purpose Best Ideas Fund
- Purpose Diversified Real Asset Fund
- Purpose International Tactical Hedged Equity Fund
- Purpose Enhanced Dividend Fund
- Purpose Behavioural Opportunities Fund
- Purpose Core Equity Income Fund
- Purpose Tactical Asset Allocation Fund
- Purpose Pension Portfolio Fund
- Purpose Canadian Equity Growth Fund
- Purpose Canadian Income Growth Fund
- Purpose Premium Money Market Fund
Purpose Mutual Funds Limited Funds:
- Purpose Global Innovators Fund
- Purpose Global Bond Class
- Purpose Enhanced Premium Yield Fund
- Purpose Global Resource Fund
- Purpose Special Opportunities Fund
- Purpose Structured Equity Yield Portfolio
Purpose Mutual Fund Trusts
- Purpose International Dividend Fund
- Purpose US Dividend Fund
- Purpose Global Bond Fund
- Purpose High Interest Savings ETF
- Purpose US Cash ETF
- Purpose Multi-Strategy Market Neutral Fund
- Purpose Silver Bullion Fund
- Purpose Energy Credit Fund
- Purpose Floating Rate Income Fund
- Purpose Canadian Preferred Share Fund
- Purpose US Preferred Share Fund
- Purpose Strategic Yield Fund
- Purpose Multi-Asset Income Fund
- Purpose Marijuana Opportunities Fund
- Purpose Gold Bullion Fund
- Purpose Credit Opportunities Fund
- Purpose Money Market Fund
Closed-End Funds:
- Investment Grade Managed Duration Income Fund
- Canadian Investment Grade Preferred Share Fund
- June 2021 Investment Grade Bond Pool
OM Funds:
Purpose Specialty Lending Trust
Please note that these are estimated amounts only, as of November 26, 2019. Circumstances may arise which would cause these estimates to change before the Funds’ tax year end on December 15, 2019 or December 31, 2019, as applicable.
Purpose expects to announce the final monthly, quarterly and annual cash distributions on all Funds on or about December 18, 2019. Purpose expects to announce the final annual capital gains distribution amounts on all Funds on or about December 18, 2019 except for Purpose High Interest Savings ETF, Purpose US Cash ETF, Purpose Gold Bullion Fund and Purpose Silver Bullion Fund which will be announced on or about December 31, 2019.
For Purpose Fund Corp. and Purpose Mutual Funds Limited, which are mutual fund corporations, final annual capital gains distributions will be announced on or about January 20, 2020, if necessary. As of November 26, 2019, the mutual fund corporations have no expected annual capital gains distributions. All annual capital gains distributions are considered notional distributions and are automatically reinvested in the funds at the time of the distribution.
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: info@purposeinvest.com
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.