Limited Duration Investment Grade Preferred Securities Fund Receives Approval for Normal Course Issuer Bid on Class U Units

TORONTO, ONTARIO--(Marketwired - Aug. 28, 2015) - Limited Duration Investment Grade Preferred Securities Fund (the "Fund") (TSX:PFD.U) has received approval for a normal course issuer bid to purchase up to 20,837 Class U Units (the "Units") of the Fund, representing approximately 10% of the public float of 208,376 Units. The Fund may purchase up to 4,167 Units in any 30 day period which is 2% of the 208,376 issued and outstanding Units as at August 25, 2015.

The Units may be purchased for cancellation from September 2, 2015 to September 1, 2016 through the facilities of the Toronto Stock Exchange or other eligible alternative markets and may only be purchased at a price per Unit not exceeding the last published net asset value per Unit. Purpose Investments Inc., the Manager of the Fund, believes that such purchases are in the best interest of the Fund and are a desirable use of its available funds.

On August 28, 2014, the Company announced that it was making a normal course issuer bid, which commenced September 2, 2014, to purchase up to 31,109 Class U Units through the facilities of the TSX or other eligible alternative markets. The Company repurchased 15,300 Class U Units at a weighted average price of US$23.52 per unit under the bid, which expires on September 1, 2015.

Purpose Investments Inc. is a Canadian asset management firm committed to enabling all investors to have access to great investment products at reasonable fees. The Class U Units of the Fund are listed for trading on the Toronto Stock Exchange under the symbol PFD.U.