Purpose Investments Inc. Announces 2023 Estimated Annual Income and Capital Gains Distributions
TORONTO, Nov. 29, 2023 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) today announced the estimated annual distributions of income and capital gains for its open-end exchange-traded funds and closed-end funds (the “Funds”) for the 2023 tax year. The estimated distributions represent estimated income and capital gains realized by the Funds during the year.
Please note that these are estimated amounts only, as of November 29, 2023. Circumstances may arise which would cause these estimates to change before the Funds’ tax year end on December 15, 2023 or December 31, 2023, as applicable.
Estimated Annual Capital Gain Distributions
Details of the per unit estimated distribution amounts are as follows:
Closed-End Funds
| Big Banc Split Corp. | Ticker Symbol | Exchange | Estimated Annual Capital Gains Distribution Per Share | Distribution Type (Cash or Notional) | |
| Big Banc Split Corp – Class A Shares | BNK | TSX | $0.3100 | Cash Distribution | |
Purpose expects to announce the final 2023 annual capital gain distributions for Big Banc Split Corp. on or about January 23, 2024, if necessary. No capital gain distribution on Big Banc Split Corp – Preferred Shares (TSX: BNK.PR.A) is expected.
Purpose Mutual Fund Trusts
| Fund Name | Ticker Symbol | Exchange | Estimated Annual Capital Gains Distribution Per Unit | Distribution Type (Cash or Notional) | |
| Purpose Ether Yield ETF – ETF Units | ETHY | TSX | $0.0725 | Cash Distribution | |
| Purpose Ether Yield ETF – ETF Non-Currency Hedged Units | ETHY.B | TSX | $0.0900 | Cash Distribution | |
| Purpose Ether Yield ETF – ETF Non-Currency Hedged USD Units | ETHY.U | TSX | USD $ 0.0700 | Cash Distribution | |
| Apple (AAPL) Yield Shares Purpose ETF – ETF Units | APLY | Cboe Canada | $1.4900 | Notional Distribution | |
| Amazon (AMZN) Yield Shares Purpose ETF – ETF Units | YAMZ | Cboe Canada | $3.6800 | Notional Distribution | |
| Tesla (TSLA) Yield Shares Purpose ETF – ETF Units | YTSL | Cboe Canada | $3.9300 | Notional Distribution | |
| Berkshire Hathaway (BRK) Yield Shares Purpose ETF – ETF Units | BRKY | Cboe Canada | $2.2600 | Notional Distribution | |
| Alphabet (GOOGL) Yield Shares Purpose ETF – ETF Units | YGOG | Cboe Canada | $4.7500 | Notional Distribution | |
Estimated Annual Distributions of Income
| Purpose Mutual Fund Trusts | Ticker Symbol | Exchange | Estimated Annual Income Distribution Per Unit | Distribution Type (Cash or Notional) | |
| Purpose Global Bond Fund – ETF Units | BND | TSX | $0.1100 | Cash Distribution | |
| Purpose Global Flexible Credit Fund – ETF Units | FLX | TSX | $0.0770 | Cash Distribution | |
| Purpose Global Flexible Credit Fund – ETF Non-Currency Hedged Units | FLX.B | TSX | $0.0900 | Cash Distribution | |
| Purpose Global Flexible Credit Fund – ETF Non-Currency Hedged USD Units | FLX.U | TSX | USD $ 0.0635 | Cash Distribution | |
| Purpose Energy Transition Fund – ETF Units | CLMT | TSX | $0.1500 | Cash Distribution | |
Purpose expects to announce the final year-end distribution amounts for Purpose Mutual Fund Trusts with December 15, 2023, tax year-end on or about December 20, 2023. The respective unitholders of record on December 29, 2023, will receive the 2023 annual distributions on January 5, 2024. The ex-dividend date for the 2023 annual distributions for these ETFs (Purpose Mutual Fund Trusts) will be December 28, 2023.
Purpose expects to announce the final year-end distributions for Purpose High Interest Savings Fund – ETF Units, Purpose US Cash Fund – ETF Units, Purpose Cash Management Fund – ETF Units, Purpose USD Cash Management Fund – ETF Units, and Black Diamond Impact Core Equity Fund – ETF Units on or about December 29, 2023, if necessary.
Purpose expects to announce the final annual capital gain distributions for Purpose Fund Corp. and Big Banc Split Corp. on or about January 23, 2024, if necessary.
Purpose confirms that as of November 29, 2023, the following Funds are not expected to have annual capital gains distributions for the 2023 tax year:
Open-End Funds
Purpose Fund Corp. Funds:
- Purpose Total Return Bond Fund
- Purpose Core Dividend Fund
- Purpose Tactical Hedged Equity Fund
- Purpose Tactical Hedged Equity Fund – Non-Currency Hedged
- Purpose Premium Money Market Fund
- Purpose Real Estate Income Fund
- Purpose Best Ideas Fund
- Purpose Best Ideas Fund – Non-Currency Hedged
- Purpose Monthly Income Fund
- Purpose Premium Yield Fund
- Purpose Premium Yield Fund – Non-Currency Hedged
- Purpose Conservative Income Fund
- Purpose Diversified Real Asset Fund
- Purpose International Tactical Hedged Equity Fund
- Purpose Enhanced Dividend Fund
- Purpose Canadian Financial Income Fund
- Purpose Canadian Income Growth Fund
- Purpose Canadian Equity Growth Fund
- Purpose Core Equity Income Fund
- Purpose Tactical Asset Allocation Fund
- Purpose Tactical Thematic Fund
- Purpose Structured Equity Yield Plus Fund
Purpose Mutual Funds Limited Funds:
- Purpose Global Innovators Fund
- Purpose Global Bond Class
- Purpose Enhanced Premium Yield Fund
- Purpose Global Resource Fund
- Purpose Special Opportunities Fund
- Purpose Structured Equity Yield Fund
- Purpose Structured Equity Growth Fund
Purpose Mutual Fund Trusts:
- Purpose Bitcoin ETF
- Purpose Bitcoin Yield ETF
- Purpose Ether ETF
- Purpose High Interest Savings Fund
- Purpose US Cash Fund
- Purpose Cash Management Fund
- Purpose USD Cash Management Fund
- Purpose International Dividend Fund
- Purpose Emerging Markets Dividend Fund
- Purpose Multi-Strategy Market Neutral Fund
- Purpose Gold Bullion Fund
- Purpose Silver Bullion Fund
- Purpose Credit Opportunities Fund
- Purpose Canadian Preferred Share Fund
- Purpose US Preferred Share Fund
- Purpose US Preferred Share Fund- Non-Currency Hedged
- Purpose Strategic Yield Fund
- Purpose Multi-Asset Income Fund
- Purpose Marijuana Opportunities Fund
- Black Diamond Global Enhanced Income Fund
- Black Diamond Global Equity Fund
- Black Diamond Impact Core Equity Fund
- Longevity Pension Fund
- Purpose Active Conservative Fund
- Purpose Active Balanced Fund
- Purpose Active Growth Fund
Please note that these are estimated amounts only, as of November 29, 2023. Circumstances may arise which would cause these estimates to change before the Funds’ tax year end on December 15, 2023 or December 31, 2023, as applicable.
About Purpose Investments
Purpose Investments is an asset management company with more than $18 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 Financial, 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. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. 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.
