Purpose Investments Announces Unitholder Approval of Proposal to Expand the Investment Objectives of Purpose High Interest Savings Fund

TORONTO, April 21, 2023 (GLOBE NEWSWIRE) -- Purpose Investments Inc. (“Purpose”) is pleased to announce that unitholders of the Purpose High Interest Savings Fund (the “Fund”), the world’s first high-interest savings ETF, have approved a proposal to expand the Fund’s investment objectives to provide the Fund with the ability to also invest in high-quality money market securities.

Purpose does not anticipate any immediate change to the holdings of the Fund and plans to continue to operate the Fund as it has since its inception. The Fund will continue to deposit its assets in high interest deposit accounts with Schedule I Canadian Banks for the foreseeable future. The ability to invest in high-quality money market securities and/or funds is only expected to be used if necessary to ensure the Fund continues to provide unitholders with attractive yields.

While there will be no change to the underlying holdings of the Fund in the near term, Purpose believes that the expansion of the Fund’s investment objectives will provide unitholders with several benefits, including providing the Fund with the flexibility to diversify its portfolio holdings with high-quality short-term fixed-income investments, if needed in the long term which should benefit the Fund and its Unitholders through market cycles.

For further information, please contact us by calling toll-free at 1-877-789-1517 or by emailing us at info@purposeinvest.com.

About Purpose Investments

Purpose is an asset management company with approximately $16 billion in assets under management. Purpose has an unrelenting focus on client-centric innovation and offers a range of outcome-focused 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 more information, please visit www.purposeinvest.com.

For further information, please contact:

Keera Hart
Keera.Hart@kaiserpartners.com 
905-580-1257

Commissions, trailing commissions, management fees and expenses may all 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. Investment fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer.

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