TORONTO, April 09, 2026 (GLOBE NEWSWIRE) -- Purpose Investments Inc. (“Purpose”) today announced its decision to terminate Purpose U.S. Preferred Share Fund (the “Fund”) at the close of business on or about June 9, 2026 (the “Termination Date”). The termination will be made in accordance with applicable securities and regulatory requirements, as well as the declaration of trust of the Fund.
The Fund currently offers ETF units and ETF non-currency hedged units (together, “ETF Units”). The Fund also offers Series A units, Series A non-currency hedged units, Series F units and Series F non-currency hedged units (collectively, “Mutual Fund Units” and, together with the ETF Units, “Units”). Effective as of the market close on the date hereof, Units of the Fund will no longer be available for purchase, including any purchases made through a pre-authorized purchase plan.
It is anticipated that ETF units (Cboe Canada: RPU) and U.S. dollar-denominated ETF non-currency hedged units (Cboe Canada: RPU.B) will be voluntarily delisted from the Cboe Canada Inc. (“CBOE”) at the close of business on or about June 4, 2026 (the “Delisting Date”). The decision to close the Fund was driven primarily by the Fund’s relatively low assets under management, which has made it difficult to efficiently manage the Fund in accordance with its intended investment objectives. As a result, in the view of Purpose, the termination is in the best interest of unitholders.
Holders of Mutual Fund Units will have the option to redeem their Units at net asset value on or prior to the Termination Date. There will be no fees or redemption charges applicable to such redemptions. Holders of ETF Units may continue to trade and sell such units on CBOE until the Delisting Date.
All Units not redeemed prior to 4:00 p.m. (EDT) on the Termination Date will be automatically redeemed at net asset value, with proceeds either deposited into the unitholder’s account or a cheque mailed directly to the unitholder or to their dealer, nominee, or intermediary, as applicable.
If required, a final distribution for the Fund will occur on or about the Termination Date.
Unitholders of record as of the date hereof will be sent a written notice regarding the termination of the Fund.
There may be tax implications for unitholders with respect to any disposition of Units. We strongly urge unitholders to contact their financial advisor to discuss the financial and tax implications associated with a redemption of Units and the termination of the Fund.
About Purpose Investments Inc.
Purpose Investments Inc. is an asset management company with more than $30 billion in assets under management. Purpose has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose 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.
Forward-looking Information
Purpose cautions the reader not to place undue reliance upon any such 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 “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “on pace”, “anticipates” or “does not anticipate”, “believes” and similar expressions or statements 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 they 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 may cause the actual results, level of activity, performance or achievements of Purpose to be materially different from those expressed or implied by such forward-looking information. Such 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 that Purpose believes to be reasonable at 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 such 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.
