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Major Milestone Achieved: Transition to T+1 Settlement in Canadian and U.S. Securities Markets
TORONTO, May 21, 2024 (GLOBE NEWSWIRE) -- Purpose Investments Inc. (“Purpose Investments” or “Purpose”) is pleased to announce its participation in a significant advancement to the operational framework of the Canadian and U.S. securities markets: the transition from a T+2 to T+1 settlement cycle.
In conjunction with Canadian and U.S. security markets, Purpose will shorten its settlement cycles for several funds to T+1 from T+2, effective May 27, 2024. The decision to transition to T+1 settlements comes as part of Purpose’s ongoing efforts to stay on the leading edge of evolving market trends and regulatory requirements. By reducing settlement times by one business day, Purpose aims to streamline operations and ensure a quicker and smoother experience for clients buying and selling stocks.
The list of Purpose ETFs below will be transitioning to a T+1 settlement schedule. U.K., E.U. and Asian markets have yet to commit to T+1 Settlement but are in discussions to convert to T+1 no earlier than 2025.
| Ticker | CUSIP | CUSIP Name |
| YGOG | 02080B104 | Alphabet (GOOGL) Yield Shares Purpose ETF |
| YAMZ | 02314T103 | Amazon (AMZN) Yield Shares Purpose ETF |
| APLY | 03783G101 | Apple (AAPL) Yield Shares Purpose ETF |
| BRKY | 08465C104 | Berkshire Hathaway (BRK) Yield Shares Purpose ETF |
| MSFY | 59516H105 | Microsoft (MSFT) Yield Shares Purpose ETF |
| YNVD | 654938109 | NVIDIA (NVDA) Yield Shares Purpose ETF |
| YTSL | 88161X107 | Tesla (TSLA) Yield Shares Purpose ETF |
| PABF | 74639A101 | Purpose Active Balanced Fund |
| PACF | 74639B109 | Purpose Active Conservative Fund |
| PAGF | 74639C107 | Purpose Active Growth Fund |
| PBI | 74640J109 | Purpose Best Ideas Fund |
| PBI.B | 74640J208 | Purpose Best Ideas Fund - Non-Currency Hedged |
| BTCY | 74642T105 | Purpose Bitcoin Yield ETF |
| BTCY.B | 74642T204 | Purpose Bitcoin Yield ETF - Non-Currency Hedged |
| BTCY.U | 74642T303 | Purpose Bitcoin Yield ETF - Non-Currency Hedged USD |
| BNC | 74641F106 | Purpose Canadian Financial Income Fund |
| RPS | 74642D100 | Purpose Canadian Preferred Share Fund |
| PRP | 74641W109 | Purpose Conservative Income Fund |
| | 74639Y109 | Purpose Core Dividend Fund |
| RDE | 74642L102 | Purpose Core Equity Income Fund |
| CROP | 74643L101 | Purpose Credit Opportunities Fund |
| CROP.U | 74643L200 | Purpose Credit Opportunities Fund - Non-Currency Hedged USD |
| PRA | 74639Y406 | Purpose Diversified Real Asset Fund |
| PDIV | 74640V102 | Purpose Enhanced Dividend Fund |
| PAYF | 74642M100 | Purpose Enhanced Premium Yield Fund |
| ETHY | 74642R109 | Purpose Ether Yield ETF |
| ETHY.B | 74642R208 | Purpose Ether Yield ETF - Non-Currency Hedged |
| ETHY.U | 74642R307 | Purpose Ether Yield ETF - Non-Currency Hedged USD |
| IGB | 74642H101 | Purpose Global Bond Class |
| BND | 74641B105 | Purpose Global Bond Fund |
| FLX | 74643C101 | Purpose Global Flexible Credit Fund |
| FLX.B | 74643C200 | Purpose Global Flexible Credit Fund - Non-Currency Hedged |
| FLX.U | 74643C309 | Purpose Global Flexible Credit Fund - Non-Currency Hedged USD |
| PINV | 74641A107 | Purpose Global Innovators Fund |
| KILO | 74642E306 | Purpose Gold Bullion Fund |
| KILO.B | 74642E108 | Purpose Gold Bullion Fund - Non-Currency Hedged |
| KILO.U | 74642E207 | Purpose Gold Bullion Fund - Non-Currency Hedged USD |
| MJJ | 74641T106 | Purpose Marijuana Opportunities Fund |
| PIN | 74639Y307 | Purpose Monthly Income Fund |
| PINC | 74641M101 | Purpose Multi-Asset Income Fund |
| PMM | 74640H103 | Purpose Multi-Strategy Market Neutral Fund |
| PYF | 74641L103 | Purpose Premium Yield Fund |
| PYF.B | 74641L202 | Purpose Premium Yield Fund - Non-Currency Hedged |
| PYF.U | 74641L301 | Purpose Premium Yield Fund - Non-Currency Hedged USD |
| PHR | 74640L104 | Purpose Real Estate Income Fund |
| SBT | 74641C103 | Purpose Silver Bullion Fund |
| SBT.B | 74641C202 | Purpose Silver Bullion Fund - Non-Currency Hedged |
| SYLD | 74641N109 | Purpose Strategic Yield Fund |
| RTA | 74642G103 | Purpose Tactical Asset Allocation Fund |
| PHE | 74639Y208 | Purpose Tactical Hedged Equity Fund |
| PHE.B | 74640M102 | Purpose Tactical Hedged Equity Fund - Non-Currency Hedged |
| RTT | 74640U104 | Purpose Tactical Thematic Fund |
| PBD | 74639Y505 | Purpose Total Return Bond Fund |
| PUD | 74640K106 | Purpose U.S. Dividend Fund |
| PUD.B | 74640K205 | Purpose U.S. Dividend Fund - Non-Currency Hedged |
| RPU | 74641R100 | Purpose U.S. Preferred Share Fund |
| RPU.B | 74641R308 | Purpose U.S. Preferred Share Fund - Non-Currency Hedged |
| RPU.U | 74641R209 | Purpose U.S. Preferred Share Fund - Non-Currency Hedged USD |
Purpose’s Canadian-listed ETFs holding international assets, Purpose Emerging Markets Fund, Purpose International Dividend Fund and Purpose International Tactical Hedged Equity Fund will continue their existing T+2 settlement cycle until further notice.