TORONTO, Oct. 13, 2023 (GLOBE NEWSWIRE) -- Purpose Investments Inc. (“Purpose”), the manager of Purpose Premium Money Market Fund (the “Fund”), announced today that it has changed the sub-advisor to the Fund.
Effective October 13, 2023, Neuberger Berman Canada ULC (formerly Neuberger Berman Breton Hill ULC) (“Neuberger Berman”) was removed as the sub-advisor to the Fund. The decision to remove Neuberger Berman as the sub-advisor to the Fund was a mutual decision by Neuberger Berman and Purpose. As of the date hereof, Purpose, the current portfolio manager, will be the sole investment advisor in respect of the Fund. This decision is aimed at optimizing trading and operational efficiency while harnessing the full spectrum of capabilities that Purpose has to provide in an advisory capacity to the Fund.
The investment objective, underlying investments and expected yield of the Fund remain unchanged. The Fund will continue to deposit its assets primarily in high-interest deposit accounts with Schedule I Canadian Banks for the foreseeable future.
About Purpose Investments
Purpose Investments is an asset management company with more than $17 billion 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 Unlimited, an independent technology-driven financial services company.
For further information, please contact:
Keera Hart
Keera.Hart@kaiserpartners.com
905-580-1257
Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. The prospectus contains important detailed information about the investment fund. Please read the prospectus before investing. There is no assurance that any fund will achieve its investment objective, and its net asset value, yield, and investment return will fluctuate from time to time with market conditions. Investment 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.
