TORONTO, March 07, 2019 (GLOBE NEWSWIRE) -- Purpose Investments Inc. (“Purpose Investments” or “Purpose”) will hold a special meeting of the shareholders of Purpose MLP & Infrastructure Income Fund (the “Fund”) on April 11, 2019. The purpose of the meeting is to consider and vote on a proposal to change the investment objectives of the Fund.

Purpose Investments has developed a strategy designed to generate a comparable yield to the existing Fund with significantly less volatility in net asset value. Purpose believes this is a superior solution for investors seeking alternative sources of yield with limited correlation to equity and fixed income benchmarks. The new strategy aims to generate a return principally through selling cash-covered put options of a broadly diversified portfolio derived from a universe of stocks defined by a disciplined process.

If the proposed changes are approved by shareholders, the Fund name will be changed and the management fees will be significantly reduced.

In order to maintain the tax efficiency of the existing portfolio, Purpose will be unwinding the current swap structure immediately and moving its master limited partnership (“MLP”) exposure to a broad MLP ETF with easily managed liquidity.

Specific details of the new strategy will be contained in the meeting materials, which will be mailed to shareholders and made available on SEDAR at www.sedar.com and posted on Purpose’s website at www.purposeinvest.com. The record date for determination of shareholders entitled to receive meeting materials is March 8, 2019.

About Purpose Investments

Purpose Investments is an asset management company with more than $6 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 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 funds. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

This press release is for information purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. This press release is not for dissemination in the United States or for distribution to US news wire services.