TORONTO, Sept. 07, 2017 (GLOBE NEWSWIRE) -- Limited Duration Investment Grade Preferred Securities Fund (the “Fund”) (TSX:PFD.U) has received approval for a normal course issuer bid to purchase up to 9,322 Class U Units (the “Units”) of the Fund, representing approximately 10% of the public float of 93,227 Units.  The Fund may purchase up to 1,864 Units in any 30 day period which is 2% of the 93,227 issued and outstanding Units as at August 31, 2017.

The Units may be purchased for cancellation from September 12, 2017 to September 11, 2018 through the facilities of the Toronto Stock Exchange or Canadian alternative trading systems and may only be purchased at a price per Unit which is less than the last published net asset value per Unit. Purpose Investments Inc., the Manager of the Fund, believes that such purchases are in the best interest of the Fund and are a desirable use of its available funds.

On August 31, 2016, the Fund announced that it was making a normal course issuer bid, which commenced September 2, 2016, to purchase up to 16,043 Class U Units through the facilities of the TSX or Canadian alternative trading systems. The Fund repurchased 9,700 Class U Units at a weighted average price of US$24.11 per unit under the bid, which expired on September 1, 2017. The units were repurchased through the facilities of the TSX or Canadian alternative trading systems.

The Class U Units of the Fund are listed for trading on the Toronto Stock Exchange under the symbol PFD.U.

About Purpose Investments Inc.

Purpose Investments is an asset management firm inspired by the belief that all investors should have access to great investment products along with low fees.  Purpose believes in focusing first on managing risk and creating value that is currently missing from the marketplace, thus empowering all Canadians to be better investors.  Purpose has over $3.4 billion in assets under management and currently offers 35 exchange traded funds and mutual funds and 7 closed-end funds across multiple asset classes and both traditional and alternative investment strategies.

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.

For further information please contact:

Nancy Turner
Purpose Investments Inc.
Tel: (877) 789-1517
Email: info@purposeinvest.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.