TORONTO, June 24, 2019 (GLOBE NEWSWIRE) -- Purpose Investments Inc. (“Purpose Investments” or “Purpose”) today announced that Neuberger Berman Breton Hill ULC (“NBBH”) has been appointed as sub-advisor of Purpose Emerging Markets Dividend Fund (“the Fund”). This change will take effect on or about July 2, 2019.
The change in sub-advisor is being undertaken to enhance the value to unitholders. In Purpose Emerging Market Dividend Fund, the new sub-advisor will use a multi-factor approach, which will consist primarily of long emerging markets equities as well as options strategies on regional ETF’s and single name equities, where deemed appropriate for alpha generation.
At the same time as the change in sub-advisor, the management fees for ETF shares and Series F shares of the Fund will be reduced from 0.90% to 0.80%. The management fee Series A mutual fund shares will be reduced from 1.90% to 1.80%.
The change represents a deepening of the relationship with our partners at NBBH. In addition to Purpose Emerging Markets Dividend Fund (ETF ticker: REM), NBBH also manages Purpose Core Dividend Fund (ETF ticker: PDF), Purpose Premium Yield Fund (ETF ticker: PYF), Purpose Enhanced Premium Yield Fund (ETF ticker: PAYF) and Purpose Multi-Strategy Market Neutral Fund (ETF ticker: PMM), among others.
About Purpose Investments
Purpose Investments is an asset management company with more than $6.5-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:
Purpose Investments Inc.
Tel: (877) 789-1517
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.