Skip to main content

Purpose Investments Inc. Announces Increases to Annual Distribution Yield Targets for Purpose Global Bond Fund, Purpose Global Bond Class, and Purpose Global Flexible Credit Fund

Written by Customer Service on . Posted in Dividend Reports And Estimates.

TORONTO, Nov. 30, 2023 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”) is pleased to announce that it has elected to increase the annual distribution target on the Purpose Global Bond Fund (TSX: BND) and Purpose Global Bond Class (TSX: IGB) from 4.65% to 5.15%. In addition, the annual distribution target for Purpose Global Flexible Credit Bond Fund (TSX: FLX) will also increase from 5.50% to 6.25%. The new monthly distribution amounts are shown in the table below and will be effective as of December 2023.

Fund NameTickerNew Monthly
Distribution per
Share/Unit
Purpose Global Bond Fund – ETF UnitsBND$0.0712
Purpose Global Bond Class – ETF SeriesIGB$0.0729
Purpose Global Flexible Credit Fund – ETF UnitsFLX$0.0355
Purpose Global Flexible Credit Fund – ETF Non-Currency Hedged UnitsFLX.B$0.0421
Purpose Global Flexible Credit Fund – ETF Non-Currency Hedged USD UnitsFLX.U$0.0294

Based on the funds’ continued capital allocation in the new bond issue market coupled with the current interest rate environment, Purpose is able to increase the monthly distribution rates for the above-mentioned funds.

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.

About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies – including equity, fixed income, quantitative and multi-asset class, private equity, real estate and hedge funds – on behalf of institutions, advisors and individual investors globally. The firm manages $439 billion in client assets as of September 30, 2023.

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. 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.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.