Interest money

Purpose Investments Announces Merger of Purpose Money Market Fund and Purpose High Interest Savings ETF and Renaming of Purpose High Interest Savings ETF

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TORONTO, Nov. 22, 2022 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) today announced its proposal to merge Purpose Money Market Fund (“PMT”) and Purpose High Interest Savings ETF (to be renamed Purpose High Interest Savings ETF). Fund) (“PSA”) (the “Merger”) on or about January 27, 2023 (the “Effective Date”). These funds are designed to provide investors with monthly income while preserving capital and liquidity by investing in high interest deposit accounts. The merger is being implemented in order to more efficiently and effectively manage fund portfolios as well as reduce costs for the benefit of unitholders.

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The Merger will be implemented on a tax-deferred basis. After the Merger, PSA will continue to offer an opportunity for capital and liquidity preservation and monthly distributions.

As a result of the Merger, holders of Class A Units and Class F Units of the Fund will become holders of Class A Units and Class F Units, respectively, of PSA on the Effective Date. The name change from PSA to Purpose High Interest Savings Fund is expected to take effect on or around January 13, 2023.

About Purpose Investments Inc.

Purpose Investments is an asset management company with over $13 billion in assets under management. Purpose Investments has a relentless focus on client-centric innovation, offering a range of managed and quantitative investment products. Purpose Investments is led by renowned entrepreneur Som Seif and is a division of Purpose Unlimited, an independent, technology-driven financial services platform that is reshaping the industry by connecting and creating opportunities in asset management, asset management wealth management and small business financial services.

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For more information, please contact:
Keera Hart
[email protected]

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. The prospectus contains important detailed information about the investment fund. Please read the prospectus before investing. There can be no assurance that a fund will achieve its investment objective, and its net asset value, yield and investment return will fluctuate from time to time depending on market conditions. Investment funds are not guaranteed, their values ​​change frequently and past performance may not be repeated. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer.

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Forward-looking information

Purpose cautions readers not to place undue reliance on the forward-looking statements contained herein, 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 “anticipates”, “expects” or “does not expect”, “is expected”, “budget”, “planned”, “estimates”, “plans”, “intends”, “at the pace”, “anticipates” or “does not anticipate”, “believes” and similar expressions or indicates 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 the statements 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 could cause the actual results, level of activity, performance or achievements of Purpose to differ materially from those expressed or implied by such forward-looking information. These 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 Purpose believes to be reasonable as of 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 this 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.