Purpose Investments launches new funds

Purpose Investments announced the first two of its funds, the Core Dividend Fund and the Tactical Hedged Equity Fund, have completed the initial public offerings of their exchange traded series of shares. These funds will began trading on the TSX today under the ticker symbols PDF and PHE, respectively.

Read: Seif launches Purpose Investments

These are the first of five funds expected to launch this week. The others include:

· Purpose Total Return Bond Fund (PBD) · Purpose Diversified Real Asset Fund (PRA) · Purpose Monthly Income Fund (PIN)

Each will initially offer ETF Shares and three mutual fund series (Class A, Class F and Class I shares), which will allow investors to access the funds based on their preferred investment style.

The funds will be managed by Breton Hill Capital, an alternative asset management firm that’s led by a team from Diversified Global Asset Management, says National Bank’s Pat Chiefalo, along with research assistants Daniel Strauss and Ling Zhang, in a recent report.

Read: Som Seif leaving BlackRock

“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.”

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