Purpose Announces Corrections to Risk Ratings for Certain Funds

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Purpose Investments Inc.
Purpose Investments Inc.

TORONTO, Sept. 06, 2024 (GLOBE NEWSWIRE) -- Purpose Investments Inc. (“Purpose”) today announced changes to the risk ratings for 16 public investment funds under its management (collectively, the “Funds”). These changed risk ratings have been determined in accordance with the standardized risk classification methodology mandated by the Canadian Securities Administrators. In the course of internal reviews, Purpose noted that the Funds have been inadvertently reporting incorrect risk ratings. Effective immediately, the new risk ratings of the Funds are set out in the table below.

The following Funds have a risk rating increase:

Fund Name

Ticker Symbol

Current Risk Rating

New Risk Rating

Purpose Global Bond Class

TSX: IGB

Low

Low to Medium

Purpose Enhanced Premium Yield Fund

TSX: PAYF

Low to Medium

Medium

Purpose Best Ideas Fund

TSX: PBI, PBI.B

Medium

Medium to High

Purpose Core Dividend Fund

TSX: PDF

Low to Medium

Medium

StoneCastle Equity Growth Fund

-

Medium to High

High

StoneCastle Income Growth Fund

-

Low to Medium

Medium

Purpose Core Equity Income Fund

CBOE: RDE

Low to Medium

Medium

Purpose Enhanced Dividend Fund

TSX: PDIV

Low to Medium

Medium

Purpose International Dividend Fund

TSX: PID

Low to Medium

Medium

Purpose Emerging Markets Dividend Fund

CBOE: REM

Low to Medium

Medium

Amazon (AMZN) Yield Shares Purpose ETF

CBOE: YAMZ

Medium

Medium to High

Tesla (TSLA) Yield Shares Purpose ETF

CBOE: YTSL

Medium to High

High

Alphabet (GOOGL) Yield Shares Purpose ETF

CBOE: YGOG

Medium

Medium to High

Apple (AAPL) Yield Shares Purpose ETF

CBOE: APLY

Medium

Medium to High


The following Funds have a risk rating decrease:

Fund Name

Ticker Symbol

Current Risk Rating

New Risk Rating

Longevity Pension Fund

-

Low to Medium

Low

Purpose Gold Bullion Fund

TSX: KILO, KILO.B, KILO.U

Medium to High

Medium


There is no change to the investment objectives, strategies, or management of the Funds associated with the new risk ratings. The above changes will be reflected in the Funds’ prospectuses (where applicable), fund facts documents, and/or ETF facts documents, which will be available on the SEDAR+ website (www.sedarplus.ca).

Purpose has reviewed and updated its internal communication protocols to ensure all practices are sound.

About Purpose Investments Inc.

Purpose Investments is an asset management company with approximately $20 billion in assets 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 Unlimited, an independent technology-driven financial services company.