Purpose launches fund designed for downside protection

By Maddie Johnson | April 14, 2020 | Last updated on April 14, 2020
1 min read
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Toronto-based Purpose Investments Inc. announced the launch of the Purpose Structured Equity Yield Portfolio II on Tuesday.

The new fund offers a diverse portfolio that aims to generate high income with a low correlation to broad equity markets, a release said. 

It’s designed to replicate the outcome of several structured notes using an actively managed derivatives-based strategy, coupling downside protection with a tax-efficient yield. 

“Given the recent turbulence in the markets, we want to give investors the ability to access a product with the appropriate levels of contingent downside protection for the current environment,” said Som Seif, founder and CEO of Purpose Investments.

The new offering is available now as Series F and Series A mutual funds. 

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Maddie Johnson

Maddie is a freelance writer and editor who has been reporting for Advisor.ca since 2019.